Muscat, June 14, 2020: In light of the Supreme Committee’s recent decision to lift the lockdown in most of the Sultanate’s Wilayats, Oman Arab Bank has announced the reopening of all its 60 branches and offices according to its normal operating hours.

Highlighting the importance of this decision, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “OAB is always committed to offering seamless, high-quality services to our customers, therefore we have decided to adapt to the current situation and gradually return to work, in accordance with the directives of the Supreme Committee. The Bank’s branches, which had been closed during the previous period to ensure the safety of customers and employees, will be resuming work as per normal working hours. We have implemented various precautionary measures and preventive guidelines, as requested by the concerned authorities, to ensure that the highest of safety standards are maintained for our customers and employees.”

During the onset of the pandemic, Oman Arab Bank launched an internal integrated programme to mitigate the risks of infection. ‘Wiqaya’, which was directly supervised by OAB’s Human Resources Division, saw a successful reduction of employees at the workplace as well as the activation of remote working procedures. The Retail Banking Division worked tirelessly through the Bank’s digital platforms to meet customer needs, and minimising their need to visit a branch.

 

The ‘Wiqaya’ programme was designed to be highly flexible, adaptable to changes where and when required.  The programme helped the Bank successfully overcoming this unprecedented period, from the onset of the pandemic until today. The next phase is largely dependent on awareness and individual responsibility, together with constant monitoring and supervision by the management team.

Rashad added, “Despite having all our branches resume work, as well as the implementation of all precautionary safety measures, we are continuing our efforts to enhance awareness and encourage customers to benefit from one of the best digital infrastructures in the local banking sector, available at Oman Arab Bank. The future depends extensively on advanced technological solutions and we began investing in this field several years ago. This enables us to provide the latest innovative and optimal solutions to our customers, and limits the need for direct personal interaction at this crucial time. It is clear that we are on the right path to achieve our vision for the future, especially in regards to the banking sector in general.”

Oman Arab Bank has a rich and proud history as one of the first financial institutions established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

Muscat, May 21, 2020: Kargeen Restaurant continues its commitment to give throughout the holy month of Ramadan, in collaboration with Oman Arab Bank, Carrefour and other participating brands, by providing Iftar meals to frontline workers combatting the Novel Coronavirus (COVID-19) pandemic.

Commenting on the Bank’s initiative, Hilal Al Siyabi, Head of Corporate Communications at Oman Arab Bank, said “We are proud of everyone who has participated to overcome this global pandemic, and especially those who are working on the frontlines and are putting themselves at risk for the sake of our health and safety. Our involvement in this initiative, which was launched by Kargeen Restaurant, is a small way to support those heroes who have left their homes during the holy month to contribute towards mitigating the risks of the current situation”.

Feras Al Farsi, Head of Social Sustainability at Oman Arab Bank, added “The Bank continues to make partnerships in the community to provide support for the frontline workers who are risking their lives every day.  Over the past few weeks, we have been involved in several endeavours aimed at supporting those who are keeping Oman safe and healthy. On behalf of all the staff at Oman Arab Bank, I would like to extend my thanks and appreciation to each and every frontline worker for their hard work and dedication to Oman, its citizens and residents”.

Through this initiative over 1,000 meals have been distributed to frontline workers, with the initiative scheduled to continue until the end of Ramadan.

Expressing his thanks to all associations that supported and donated to the initiative, Jalil Al Asfoor, CEO of Jalil Al Asfoor Enterprises and Kargeen Restaurant, said “As we specialise in the F&B industry, this initiative is the best of what we can offer as a token of gratitude to all individuals working on the frontline, combatting this pandemic. On behalf of Kargeen Restaurant, I thank all the sponsors and partners that were influential in helping achieve the objective of this initiative. This is a testament to the fact that together we can make a difference”.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

Muscat, May 12, 2020: Oman Arab Bank (OAB) recently announced the names of the 133 winners of its March monthly Hasaad Savings Scheme draw. These winners included 95 winners of the monthly branch draws of OMR 1,000 each, OMR 100 for ten winners from the Bank’s Children’s draw for those under the age of 18 and 20 from the Bank’s Youth Holders who are between the age of 18 and 27 of OMR 100 each, OMR 500 for 5 winners from the Bank’s Salary draw. This month also included the first quarterly ‘Big Prize’ draw, which saw one of the bank’s customers win OMR 25,000 and two winners of the monthly Elite Draw of OMR 10,000 each.

Commenting on the recent draw results, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “In light of the current challenges and market closure since mid-March, we have noticed an increase in the amount of savings of our valued customers, which in turn, has led to a rise in their chances of winning prizes of Hasaad Savings scheme draw. This reaffirms the need to enhance finances and focus more on savings to ensure a better future for all their family members, as well as enhancing their financial ability to deal with emergencies, such as the COVID-19 pandemic, currently impacting not only the Sultanate but the world as well.  We are proud that Hasaad Savings Scheme has contributed to the creating of a savings culture among the various segments of the society, over the past years, which has proven its worth during these difficult times. ”

As a part of the scheme, 95 lucky winners, with a minimum of one winner in each branch, will receive a prize of OMR 500 monthly, reaching OMR 1,000 each quarter. There will be 10 winners of OMR 100 each for the Children’s account holders, aged 18 and below; 20 winners of OMR 100 each for Youth account holders, aged between 18 and 27 and two winners of OMR 10,000 each as part of the monthly Elite Draw. The latter Elite draw, however, will see its monthly draw replaced by a Grand Prize draw of OMR 50,000 for one lucky Elite customer, which will occur twice a year, in June and December. In addition to these monthly draws, the Bank will also be conducting a special ‘Big Prize’ draw of OMR 25,000 for one winner across its branch network at the end of every quarter.

A new introduction this year is the Salary Transfer draw, which provides 5 winners with a prize of OMR 500 each month, as well as a guaranteed gift to children and youth (up to 27 years old), once a year, respectively. Moreover, OAB is the only Bank that will be providing a guaranteed gift to its youth customers.

“The March draw marks the end of the first quarter of the year. I would like to extend my congratulations to all the lucky winners and look forward to seeing the largest number of winners in the upcoming nine monthly draws. I encourage each and every one of our valued customers to continue saving, so as to maximise their chances of winning amazing prizes and wish them all the very best of luck for 2020.” Rashad added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

• Customers can choose the association and the amount and donate with a single press of a button

Muscat, May 4, 2020:In line with its efforts to enhance its digital offerings and on the occasion of the holy month of Ramadan, Oman Arab Bank has launched a special platform dedicated to providing donations through the OAB app. Customers who wish to donate can select their preferred association and the amount, and donate through their mobile phones.

Commenting on the importance of launching the new digital platform, Hilal Al Siyabi, Head of Corporate Communications at Oman Arab Bank, said “We have decided to launch this initiative to offer our customers an opportunity to donate money utilising a quick and easy solution. We host several charitable associations on this platform and all that our customers have to do is select the relevant association they want to support and the process will be completed in a few seconds”.

“We currently have a number associations and civil society organisations from various fields, including Dar Al Atta’a, Al Noor Association for the Blind, Association of Early Intervention for Children with Disability, Environment Society of Oman, Takaful Social Account (related to the Ministry of Social Development) and the COVID-19 account from the Ministry of Health. Attendance is open to all organisations working in the social sector and we are in contact with most of them, so as to provide them with an opportunity to be a part of this advanced platform,” Hilal added.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

Muscat, April 21, 2020: Today, Oman Arab Bank announced that it has received the approval of the Central Bank of Oman on the proposed merger with Alizz Islamic Bank. The negotiation of this project began late last year.

The merger which is expected to be complete before the end of this year will result in the transformation of Alizz Islamic Bank SAOG into a closed joint-stock company SAOC. It will see the transfer of its full ownership to Oman Arab Bank as a subsidiary specialising in Islamic banking, alongside the transfer of assets, rights and obligations of Al Yusr Islamic Banking, a window of Oman Arab Bank, to Alizz Islamic Bank SAOC. Moreover, Oman Arab Bank will be transformed into a public joint-stock company.

Rashad Al Musafir, CEO of OAB, confirmed that the proposal received the approval of the Central Bank of Oman and that it is set to start moving forward to obtaining the go-ahead from the Capital Market Authority and other relevant regulatory bodies. He also indicated the confidence of the Board of Directors in the future of the national economy and the need to promote local investments from the private sector, to drive growth during the upcoming period.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.