OAB’s approach to corporate governance
Framework and Approach to corporate governance and responsibility

The Board is committed to maintaining the highest standards of corporate governance. The Board believes that corporate governance is about having a set of values and behaviors that govern the Bank’s everyday activities - values and behaviors that ensure transparency, fair dealing and protection of the interest of the Bank’s stakeholders namely customers, shareholders, employees and the community. In line with this belief, the Board’s approach is to consider corporate governance within the broader framework of corporate responsibility and regulatory oversight. The business case for good governance is compelling. A bank’s level of governance and responsibility has emerged as a significant indicator of its overall health as a business. The genuine commitment to good governance is fundamental to the sustainability of the Bank’s business and its performance,

In pursuing its commitment to best practice governance standards, the Board will continue to:

1. Review and improve our governance practices;
2. Monitor global developments in best corporate governance practice.
3. Contribute wherever we can to local debates on what represents best corporate governance practice.

Our Governance Standards – Principles and Processes
We believe that the best approach is to be guided by the principles and practices that are in our stakeholders’
interests. However, as a minimum we ensure full compliance with legal requirements, in particular to the
letter and sprit of the local governance practices issued by the Capital Market Authority (CMA), guidelines
issued by the Central Bank of Oman and the Corporate Governance regulations issued by the Ministry of
Commerce and Industry for closed joint stock companies.

For further information about corporate governance please go back  to Oman Arab Bank annual report.