Muscat, 16 September 2019: Under the umbrella of its innovation pillar, Oman Arab Bank (OAB) hosted its first ever Innovation Hub earlier in the year with over 320 students, FinTechs and employees participating to create an innovative proof of concept. Following the 24-hour pressure-cooker event, ten student participants had gone on to join OAB as interns. These bright students have now graduated from the Bank’s intensive six-month innovation internship programme.
They were each handed their certificates at a dedicated graduation ceremony, organised by the Bank on Sunday, 15 September, at Fraser Suites Hotel and presided over by CEO, Rashad Al Musafir. Also in attendance at the event were Leen Khattar Al Atassi, Head of Innovation, together with other senior members of management and staff at OAB.
Commenting on the performance of the graduates, Rashad Al Musafir said, “It has been a pleasure to have each of these ten interns with us over these past six months. They are all truly impressive individuals who have proven themselves to be hardworking and dedicated. They have consistently surprised us with their innovative concepts and ideas as well as their ability to think outside of the box, by coming up with clever solutions to persistent problems. I can say with confidence that each of these interns have graduated from the programme having experienced significant transformation at both a professional and personal level and most definitely have very bright futures ahead of them.”
Earlier this year, OAB held the first edition of its Innovation Hub, a 24-hr hackathon where over 300 participants including students, local and global FinTech companies and OAB’s employees competed to create innovative prototypes in a sandbox environment around current industry themes. Following the OAB Innovation Hub, ten students were selected to join OAB’s Innovation Programme, which included a six-month internship and one-to-one mentoring for the students.
As part of its innovation road map, OAB is currently in the process of setting up a first-of-its-kind Innovation Lab in Oman. When completed the OAB Innovation Lab will provide access to one-to-one mentoring, specialised workshops, and industry experts for local students, OAB staff as well as local, regional, and international FinTech companies.
“The first Innovation Hub was only the beginning. With next year’s event set to be even larger and with our Innovation Lab on the verge of being completed, OAB is well on its way towards establishing itself as the centre for innovation and innovative thinking in the Sultanate,” added Leen Al Atassi.
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.