As part of its continued efforts to promote sustainable economic development
Muscat. April 30, 2019: In line with its constant endeavour to support any initiative that encourages the growth and sustainability of the Sultanate’s economy, Oman Arab Bank (OAB) has sponsored the Al Roya Economic Award 2019. The awards ceremony, now in its 8th edition, was held last Thursday.
Commenting on the sponsorship, Hilal al Siyabi, Head of Corporate Communication at OAB said, “Over the past eight years, Al Roya Economic Award has been one of the most prominent initiatives aimed at encouraging entrepreneurs to boost their performance and in turn having a positive effect on the economy. As one of the first banks to be established in Oman, we always look for opportunities to support initiatives such as these whose objectives are in line with those of the Banks; objectives that are centred around supporting the social and economic development in the Sultanate.”
This year’s awards were spread across ten categories, including the National Achievement Cup, which was presented to the One Million Date Palm Project, a project supervised by the Diwan of Royal Court. The Portal ‘Abshir’, from the Public Authority for Consumer Protection, has awarded the Best Government Project Award. The Best Private Sector Project for Large Companies went to the Renaissance Village Duqm. The Best SME Award was presented to three companies – the National Natural Honey co. L.L.C, Engineer Commercial company, and AlNimr International Exhibition Organisers. The Best Foreign Investment Award was presented to Sepacic Oman. The late Mohsin Haider Darwish was presented with the Constant Donation Award. The Best Value-Added Project Award was presented to Petroleum Development Oman and the Best Economic Figure award went to Mahmood Mohamed Ali Al Jarwani. The best Company in the Insurance Sector award was given to Muscat Insurance Company S.A.O.G. Finally, the Best Student Company Award was divided between three companies – Future Support Company, Oman Recycling Company and Watad Company.
Al Siyabi added, “In line with government guidelines and the objectives of the National Program for Enhancing Economic Diversification (Tanfeedh), there is much reliance on the private sector to achieve the results desired. The Al Roya Economic Award acts as a platform that monitors the performance of companies in the private sector and subsequently rewards them for their achievements. OAB also aims to support the efforts of such companies and aims to help them enhance their contribution to the GDP by providing the best and most advanced banking services in the country that are developed to the highest international standards.”
This year’s Al Roya Economic Award is the result of a partnership between Al Roya Newspaper and Oman Chamber of Commerce and Industry. It aims to provide support to all components of the private sector. In its current edition, the award ceremony highlighted India as its country of focus.
Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across the Sultanate. OAB provides a complete range of financial products and services for personal banking, corporate and investment clients.