Muscat, December 30, 2019: In line with its transformation strategy for branches across regions in the Sultanate, Oman Arab Bank (OAB) announced the recent opening of its new flagship branch in Ibri. The customer-centric branch hosts facilities aimed at delivering enhanced bank services with the highest levels of accessibility to customers in Ibri.

The opening took place on December 25, under the patronage of HE Dr Hamad Hamdan Al Rubaiy, Shura representative in the Wilayat of Ibri, and overseen by Rashad Al Musafir, CEO of OAB, alongside the presence of other senior members of the Bank’s management and staff.

Commenting on the launch of the new branch, Rashad Al Sheikh Deputy Head of Group Retail said, “Ibri is one of the rapidly developing residential areas in A’Dhahirah Governorate, comprising of a large number of our customer base. The newly transformed branch will be a welcome addition to cater to their modern banking needs. Together with the branch’s spacious layout and distinct contemporary design, OAB will be able to further enhance customer experience through the provision of personalised levels of service.”

Similar to the previous revamped branches, the new Ibra Branch features OAB’s enhanced brand identity with a refreshed look and feel. Aesthetically, its design inspiration has been taken from the ‘Omani Skyline’, wherein the white symbolises Omani architecture, browns denote the sand deserts, grey referencing the mountains, and the blue glass overhangs representing the sky.

The sleek, modern, and streamlined look is augmented by a number of features and systems. These include a new meet and greet facility with a streamlined queuing system, private advisory spaces with moving monitors for more personal interaction, together with digital signature pads and ID card readers within the advisory station design. The main area has two tellers and six customer care advisories with a seating capacity for 35 customers.

As with each of the other flagship branches launched so far, this new branch also features a dedicated ‘Elite’ section with its own Majlis. These features will provide the bank’s VIP customers with an exclusive, private, and memorable banking experience befitting the Bank’s Elite Banking Customers.

“As our most recently transformed flagship branch, the Ibri division is a combination of the latest technological advances we have to offer together with distinct branch philosophies. In this way, we can continue raising the bar in enriching customer experience,” Al Sheikh 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.

Muscat, 24 December, 2019: In line with its corporate social responsibility strategy, Oman Arab Bank (OAB) conducted a workshop with Injaz Oman on Wednesday December 18^th.The presentation held at Knowledge Oasis explored why pricing was so important, the different pricing strategies, and business control. The lecture was organised as part of an Injaz Oman initiative, with OAB acting as an industry expert.

Injaz Oman is a non-profit organisation which hosts a range of educational programmes, targeting Oman’s youth to help them develop their entrepreneurial skills, empower them and enhance their financial knowledge and leadership abilities. The underlying aim of these programmes is to prepare the students for the labour market by providing them with skills and encouragement, and thus, in the long-term aiding in the development of Oman’s economy.

Commenting on the workshop, Hilal Al Siyabi, Head of Corporate Communication at OAB, said, “We are thrilled to be working with Injaz Oman on this workshop. At OAB, we understand the importance of developing and diversifying not only our knowledge-based economy but the country’s economy as a whole.”

Throughout the workshop, students learned why pricing is so important to their business and were exposed to pricing strategies, along with other relevant areas to develop students’ business knowledge. The OAB lead seminar exposed students to real-life case studies in Oman in order to give them practical knowledge that can be implemented in their own businesses.

“We aim to educate and inspire the youth of Oman by combining theoretical learning with real-life applications to aid students with the development of their businesses. By partnering with OAB, we give students the opportunity to learn from today’s challenges and provide them the tools to develop their business and contribute to Oman’s economy,” stated Azzan Al Busaidi, Operations Manager in Injaz Oman.

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

Muscat, 10 December 2019: Oman Arab Bank has received the ‘Straight Through Processing’ (STP) excellence award for 2019 from Citibank. This is the second consecutive year the company has earned this award for excellence in its efforts in conducting international payment services. Now in its 14th year, the Citi Excellent STP Award programme is one of the most prestigious awards to honour financial institutions and banks that possess state-of-the-art international payment services with highly qualified international transactions.

Commenting on the award, Mahfoudh Sultan Al Rawahi, the Head of Branches Central Operations at OAB said “We are honoured to receive this prestigious award for the second consecutive year, reaffirming OAB’s position as one of the leading banks in the Sultanate. At OAB we pride ourselves on being a consumer-centric bank, therefore, we ensure the most efficient services by adopting the best international practices, and guarantee the accuracy of our electronic payments. We believe this award stands as a testament to our dedication towards achieving the highest STP rates.”

OAB was presented this award at their head office by Mohsin Al Mahdi, Director of Correspondent Banking Group. Mahfoudh Al Rawahi received the award on behalf of OAB, alongside members of the staff from the Bank’s Central Operations departments were also in attendance.
The award was presented to OAB as a recognition of the quality and accuracy payments sent by OAB, wherein the Bank maintained an outstanding 95% modification-free rate for the bank’s remittances in USD.

“Our instant and simple transfers using STP ensure the best customer experience. OAB will continue to focus on providing the highest global standards in managing our processes, people and service delivery, for our continued success in both our remittances, alongside our retail and commercial products and services, reinforcing our position as one of the leading STP Banks within the Sultanate” Al Rawahi 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 investments clients.

• Mohammed Mohsin Al Lawati, from LEAD 1, appointed as Deputy CFO
• Mohamed Abdullrauf, from LEAD 2, appointed as Head of Deposits – Retail

Muscat, 25 November 2019: Oman Arab Bank (OAB) has announced the promotions of two LEAD Graduates, Mohammed Mohsin Al Lawati and Mohamed Abdullrauf, to the positions of Deputy CFO and Head of Deposits – Retail respectively. These promotions are in line with the Bank’s focus on talent management and succession planning, a key pillar of the Bank’s operational strategy.

Commenting on the new appointments, Rashad Al Musafir, Chief Executive Officer of OAB said, “Our LEAD programme has been the backbone of our succession planning efforts within OAB with all LEAD graduates being fast tracked to positions of greater responsibility within the Bank. Mohammed Al Lawati, from the first edition of LEAD, and Mohamed Abdullrauf, from the second edition of LEAD, are two candidates who have proven themselves to be capable leaders dedicated towards achieving the goals of the organisation. Furthermore, these appointments are a reflection of our commitment towards training Omani nationals and using their talent and expertise to build a strong and dynamic senior management team at the Bank. I look forward to working with them as we continue to strengthen OAB’s position within Oman.”

Mohammed Al Lawati holds a Bachelor’s degree in Accountancy and Finance from the University of Stirling and has accumulated over 11 years of experience in Financial Control, Management Reporting and Budgeting. He has hands-on experience in leading firm-wide initiatives and managing stakeholders across levels. He joined OAB in 2015, and has since worked closely with the CFO on all Financial and Reporting matters. Mohammed Al Lawati was also a graduate of the Bank’s inaugural LEAD programme.

Commenting on his appointment, Mohammed Al Lawati said, “It’s an absolute honour to be appointed as the Deputy CFO at OAB. I would like to express my sincere gratitude to the CFO, CEO and the Executive Management for giving me this opportunity. I look forward to leveraging the experience I have accumulated over the years, together with the skills and knowledge from the LEAD 1 programme, to build on the solid foundations already in place at OAB and ensure the Bank continues to stay ahead of the curve.”

Promoted alongside Mohammed Al Lawati, is Mohamed Abdullrauf from the LEAD 2 programme. He has over eight years of experience in the finance sector and holds a Bachelor’s degree in Marketing. He joined OAB in 2011 and has since worked closely with his own team as well as the corporate team to achieve the Bank’s targets and goals. He has a clear, logical and practical approach to problem-solving and a drive to see things through to completion, even under extremely demanding environments and against tight timelines.

“Customer deposits is a segment of the Bank that has shown significant growth potential. I look forward to working with the team to further develop the Banks business and ensure continued success for OAB within this segment in Oman,” said Mohamed Abdullrauf. “I would like to thank the OAB management for giving me this opportunity and look forward to working with them to take OAB from strength-to-strength in the coming years ahead.”

Oman Arab Bank is proud to have achieved the highest Omanisation percentage within the banking sector, nearing 96 per cent. It also 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, 12 November, 2019: Oman Tourism Development Company (OMRAN), the Sultanate’s executive arm for tourism development recently signed a term financing agreement with Oman Arab Bank (OAB). Under the agreement, OAB will finance OMRAN with a long-term debt for the W Muscat.

This agreement is in line with the objective of supporting the Government’s economic diversification efforts and increased focus on developing the country’s tourism sector, while establishing strong synergies and partnerships to aid the Sultanate’s economic agenda.

The agreement was signed by Peter Walichnowski, the CEO of OMRAN and Rashad Al Musafir, the CEO of OAB at the W Muscat. The signing ceremony was attended by several senior executives from both entities.

Commenting on the new agreement, Peter Walichnowski, CEO of OMRAN said, “Now that the W Hotel has completed construction and officially opened, we can put in place long term debt that will be financed from hotel operations. The involvement of the private sector allows Government funds to be released and used to create new tourism projects that support the 2040 National Tourism Strategy”

“We are extremely pleased to finalise the financing of this W Hotel with OAB. It stands as a testament to how strategic partnerships with private sector companies can enhance Oman’s development and growth.” Walichnowski added.

Rashad Al Musafir stated, “OAB recognises Oman’s potential for growth, especially with regards to tourism, and the need to further diversify the country’s economy. Subsequently, we are committed to supporting the various arms of the government in facilitating their various developments, in turn assist them in any way possible towards achieving Oman’s 2040 National Tourism Strategy goals. This is why we are delighted to be collaborating with OMRAN, a company that has a proven track record of delivering and managing sustainable tourism assets such as the W Muscat.”

The Bank is also installing a State-of-the-art ATM machine within the hotel premises.
OMRAN is the largest hotel investment company in the Sultanate with a portfolio featuring as many as 24 internationally and locally branded hotels and resorts. Through anchor projects and strategic development partnerships with leading regional and international developers, the company expands the capacity of tourism sector and creates new lifestyle and travel experiences.

About Oman Tourism Development Company (OMRAN)

Growth Through Tourism

OMRAN creates sustainable and authentic tourism assets, lifestyle communities and destinations that drive economic growth and contribute to the diversification of the economy.

We achieve our mandate by acting alone or as a catalyst in bringing together the strength of Government with the entrepreneurship of the private sector.

We work with all stakeholders, partners, SMEs and local communities to ensure a positive physical, social, economic contribution to both the environment and people’s lives while respecting the traditional culture and environmental values of Oman.

We are inspired by Oman’s beauty, peace and hospitality.

www.OMRAN.om

About Oman Arab Bank (OAB)

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.

www.oman-arabbank.com/