Muscat, August 31, 2020: Oman Arab Bank continues to enhance its presence in the local banking industry as one of the best-certified e-payment solutions providers. The Bank has heavily invested in building an advanced digital infrastructure, capable of keeping pace with the rapid technological changes that influence the growth of businesses while enriching the digital business environment. Based on this concept, OAB’s advanced e-payment gateway has emerged as one of the best e-channels for digital payments in the Omani market.

Commenting on the features of this innovative technology, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “Our e-payment gateway is the only one in the market that provides direct connectivity for all types of local and international bank cards, in addition to competitive service fees and 24/7 advanced technical support. This single-integration point allows our customers to easily make transactions and accept payments from anywhere in the world. Moreover, our team supervising the gateway is always ready to facilitate the activation process for new customers, and support them in all their banking requirements.”

“Currently, the global market is witnessing rapid developments in the sphere of doing business, with e-commerce emerging as one of the most promising sectors. Due to changes in government services, cash transactions have declined in favour of online payments. This reinforces the need to establish more reliable digital banking solutions that enable real-time payment and seamless cash flow services. This is an extremely useful service for business owners, and especially SMEs, since it prevents payment delays. As one of the most advanced local financial institutions, we see it as our responsibility to provide advanced solutions and accelerate digital transformation in both the public and private sector,” Rashad added.

For several years now Oman Arab Bank has been on the path to promote growth through innovation. Its transformation strategy is based on strategic pillars, the most important being enabling innovation across various business activities. This is possible through the development and implementation of advanced, state-of-the-art technologies. The Bank has proven the effectiveness of its vision by successfully activating new digital channels and solutions during the COVID-19 crisis, generating widespread acclaim. OAB continues to maintain its position as one of the most prominent providers of digital services in the local banking sector.

OAB 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 55 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking and corporate banking clients.

Muscat, August 23, 2020: Oman Arab Bank opened its new branch in the Wilayat Al Khaborah recently. The branch is conveniently located next to the Public Prosecution Office and hosts a large parking area. Opened to reinforce OAB’s strategy, the new branch enhances the customer experience and offers only the best in banking solutions.

Commenting on the opening of the new branch, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “We are proud to see an increase in customers that joined the Bank from Al Khaborah. The relocation and revamping of this branch are in line with our strategic objective, which focuses on providing our customers with a comprehensive and integrated banking experience that exceeds their expectations, every step of the way.”

The new Al Khaborah branch features an enhanced brand identity, with a refreshed look and feel in line with all other transformed branches. Its contemporary design is accompanied by various exciting features and systems, which have been introduced as part of the Bank’s transformation strategy. Every aspect of the Al Khaborah branch, from the waiting area to the different sections of the branch, are aimed at delivering an exceptional, integrated experience for our customers. Special features such as screens that promote OAB’s latest products and services, private advisory spaces with moving monitors, and digital signature pads and ID card readers, all allow for a more personalised experience at our advisory stations.

Similar to the previous branches, the design inspiration is based on the ‘Omani Skyline’. White for local architecture, brown to signify desert sands and grey for the mountains. Blue glass overhangs complete the look and feel by reflecting the sky. Each distinctive design blends seamlessly, enriching the customer experience and offering an unmatched quality of service.

The new branch also features a dedicated reception desk, Majlis, and RM offices for “Elite” customers to provide them with an exclusive, private and memorable banking experience. The objective is to bring together distinct designs and meet the Bank’s transformational goals, which revolves around enriching customer experience based on the high-level of offered services.

“The Al Khaborah branch will serve our customers from its new location. Access to OAB’s digital banking channels, including the website, mobile app and WhatsApp platform, further allow our customers to choose their preferred option of banking with us, without compromising on the level of services and experience,” Rashad added.

OAB 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 and corporate banking clients.

Muscat, August 17, 2020: Oman Arab Bank is working extensively to enhance the presence of Omanis across all job levels, to enable them to lead the bank’s march during the current period. This is in line with OAB’s efforts to enhance its market share in the local banking sector, by focusing on attracting national talents and developing the capabilities of the team through several carefully-designed programmes.

Adil Al Rahbi, Head of the Human Resources Division, confirms that Omanisation has always been a strategic approach at Oman Arab Bank. Several interim plans have been developed to ensure the highest rates of Omanisation at every job level. This is achieved through the provision of high-level qualification and training programmes, designed by the Human Resources Division, in cooperation with renowned local and international educational and training firms. These programmes target a majority of employees regardless of their job level and allows for a flexible implementation of the Division’s long-term succession plan.

Adil stated, “Our strategy’s initial launch, several years ago, was focused on setting a clear path for the Omanisation process in various job designations, with talent management being identified as one of the four key pillars. Talent management is a relatively new concept in the business management world and includes developing a work environment that is appealing to highly qualified people. Conditions, requirements and adequate funding have to be in place to maintain the workforce and consistently enhance employee knowledge, and to prepare them to take on more influential positions and responsibilities going forward. This strategy, coupled with the succession plan adopted by the Bank, has been highly effective in bringing us to where we are today, proud to have achieved an Omanisation percentage of approximately 96% throughout various levels of the Bank. I believe that this milestone will enrich the bank’s future growth plans due to the presence of a highly-experienced and capable national workforce.”

The talent management strategy of Oman Arab Bank is based on its senior management’s firm belief that the presence of Omani talent is capable of enhancing the sustainable development of the national economy. OAB’s Human Resources Division, in cooperation with several renowned local and international consulting and training firms, adapted this approach through a set of highly efficient training programmes designed specifically to meet the Bank’s need for qualified nationals at the highest levels.

One of the well-known programmes designed and implemented by Oman Arab Bank during the past years is the ‘Leadership Enhancement and Development’ (LEAD) talent programme, catered towards second and third line employees across various departments. LEAD’s aim is to prepare employees to take on greater responsibilities in the future and is conducted over a period of six months, with five training sessions and two specialised workshops each. The programme, which has completed 3 editions so far, has significantly enhanced career development opportunities for participants, reflecting positively on the strategic goal of Omanisation in middle and senior positions at OAB, which are currently at 91% and 90% respectively.

The second programme implemented by the Bank, the ‘Ta’heel’ programme, provided public service employees with opportunities to develop their capabilities and qualify them to take on more specialised tasks. This programme succeeded in transforming the career path of several Bank’s employees across various departments. Oman Arab Bank has a notable and unique career development approach, creating an opportunity for individuals to make qualitative leaps on the career ladder.

“At the Human Resources Division of Oman Arab Bank, we are aware of the responsibility entrusted to us during this pivotal stage in the Bank’s journey, following its merger with Alizz Islamic Bank, the formation of a larger banking entity with independent wings in commercial and Islamic banking, as well as OAB’s listing on the Muscat Securities Market. Therefore, we are continuously enhancing the capabilities of the team and providing them with additional skill sets to allow them to keep pace with the current scenario and work towards achieving the strategic goals for growth that have been set by the OAB management. By empowering the local workforce, we can work towards the success and fulfilment of this major initiative,” Adil 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 55 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, July 20, 2020: Oman Arab Bank opened its new branch in the Al-Khoud district in Muscat on the 1st of July. The branch was shifted from its previous location to a new one near the Office of Educational Supervision – Ministry of Education, allowing for easy access to customers. The new branch has been designed based on the Bank’s commitment to focus more on its customers and to continue providing them with the best services. OAB looks to offer advanced facilities and banking services in the heart of the capital, so as to be closer to the largest number of customers in the region.

Commenting on the opening of the new branch, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “The transformation of the Al Khoud branch and its new location is in line with the Bank’s strategy to develop and provide personalised levels of service. This also reflects our concepts and vision when it comes to future banking services and we aim to gradually expand this to all our OAB branches, in order to provide our customers with a unique banking experience”.

Similar to the other transformed branches, the new Al Khoud branch features an enhanced brand identity with a refreshed look and feel, coupled with contemporary design. The design concept has been reinforced with several features and systems that have been introduced as part of the Bank’s transformation strategy. It aims to provide exceptional integrated customer experience, beginning from the waiting area, to the movement between the various sections of the branch and until customers complete all their banking needs. Moreover, the branch includes screens that promote the various products and services offered by OAB, as well as 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 design inspiration has been taken from the ‘Omani Skyline’, with white symbolising local architecture, brown to reflect the desert sands, grey for the mountains, and the blue glass overhangs for the sky.

The new branch also features a dedicated reception desk, Majlis, and RM offices for “Elite” customers to provide them with an exclusive, private and memorable banking experience. The objective is to bring together distinct designs and meet the Bank’s transformational goals, which revolves around enriching customer experience based on the high-level of offered services.

“As one of our main branches, the revamped branch in Al Khoud will be among the largest in the Sultanate. In this way, it will contribute to serving our growing customer base in the capital and will also reaffirm our commitment to our valued customers. We aim to provide them with effective and efficient banking solutions that will set new standards for retail banking. With the integration with our advanced digital banking channels, customers can choose their preferred method for conducting transactions, either online or by visiting the branch directly,” Rashad added.

OAB 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 and corporate banking clients.

Muscat, July 6, 2020: Oman Arab Bank (OAB) saw its recent transformation into a public joint-stock company by listing its shares on the Muscat Securities Market (MSM) on July 6, 2020. This is the final step after the completion of its merger with Alizz Islamic Bank (AIB), which began nearly two years ago. The ceremony saw the attendance of Khalid bin Mohammad Al Zubair, Chairman of Oman International Development and Investment Company (OMINVEST), Abdulaziz bin Mohammed Al Balushi, Board Member of OAB, and Rashad bin Ali Al Musafir, CEO of OAB. Also in attendance was Ahmed bin Saleh Al Marhoon, Director General of Muscat Securities Market (MSM).
The total number of shares listed was 1,669,410,000 (one billion six hundred and sixty-nine million four hundred and ten thousand), at a listing price equivalent to 213 baisas per share, with a total value equivalent to OMR 355,584,330 (three hundred and fifty-five million five hundred and eighty-four thousand and three hundred and thirty).

Commenting on this development, Rashad Al Musafir stated, “We are proud to have the OAB shares listed on the MSM, following the success of our merger with AIB. The merger will see the creation of a major financial entity, comprising of both traditional and Islamic banking arms, allowing it to compete at local and regional levels. OAB’s decision to move forward with this important strategic step stems from our vision for the future of the national economy. This is built on stability and safety, thanks to the efforts of both the late His Majesty Sultan Qaboos bin Said, may his soul rest in peace, and the present leader of the Omani Renaissance, His Majesty Sultan Haitham bin Tariq. The merger is also in line with efforts by the private sector to support the acceleration of the local economy.”

Al Musafir also extended his gratitude to the regulatory and supervisory entities for their efforts in supporting this project and playing an integral role in its success. Special thanks was given to the Central Bank of Oman, Capital Market Authority, Muscat Clearing & Depository, Ministry of Commerce and Industry, OAB and AIB shareholders, who believed that this unifying decision is in the best interests of both banks.

The shareholders of OAB currently include Arab Bank (49%), Oman International Development and Investment Company (OMINVEST) (31.63%), with the remaining 19.37% owned by AIB shareholders and others. After OAB’s shares were listed on the MSM, everyone will be able to continue the trade process as usual.
OAB 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 and corporate banking clients.