OAB is the First Bank in Oman to Become an Authorised Training Employer with ICAEW

Muscat, 07 August 2019: Oman Arab Bank (OAB) has become the first bank in Oman to be recognised as an Authorised Training Employer of the Institute of Chartered Accountants in England & Wales (ICAEW), a leading international organisation that develops and supports over 150,000 chartered accountants worldwide. The partnership, which is aligned with Oman’s Vision 2040 economic strategy, will help the bank attract and retain talented individuals by offering ICAEW’s prestigious CFAB and ACA qualification at OAB’s Headquarters.

The official certification was awarded to the Bank at a special ceremony held at the Bank’s Headquarters in Ghubra on 5 August. The certificate was handed over to Rashad Al Musafir, CEO at OAB, by Michael Armstrong, ICAEW Regional Director, Middle East, Africa and South Asia. Also in attendance were members of the executive management of OAB including ICAEW Middle East Advisory Board Member and current OAB CFO, Daren Warner.

On receiving the certificate, Rashad Al Musafir said, “ICAEW is a world leader in finance and professional development. Through our collaboration, we aim to accelerate our growth and give our talented employees the opportunity to aim for ambitious targets and, most importantly, contribute to Oman’s Vision 2040 goals.”

“The value of our products and services to customers depends entirely on our ability to unlock the full potential of our staff.  Becoming an ICAEW Authorised Training Employer will help us create a high-performing and innovative organisational culture that can create unique value to our customers, employees and the wider community.”

The new partnership is part of OAB’s various talent management initiatives that are tailored to provide staff with the necessary skills to help accelerate their contribution to the country’s Vision as well as developing a knowledge-based economy.

By providing Omani nationals access to internationally recognised qualifications and training, OAB further reinforces its commitment to Omanisation, making it one of the leading banks in the Sultanate to employ, engage, and develop Omanis.

Michael Armstrong, FCA, ICAEW Regional Director said, “ICAEW works with employers worldwide to support the professional development of their teams. Our partnership with OAB stems from our commitment to equip finance talent with the broad range of technical knowledge and professional skills they need to make a great contribution to their organisation and build strong and resilient economies.”

“As an ICAEW Authorised Training Employer, OAB will be able to prepare employees for the internationally recognised ACA qualification. OAB is highly committed to staying at the forefront of the fast-paced banking industry and becoming one of our training partners will allow them to attract the best talent and develop the next generation of business leaders.”

Completing the ACA qualification through an ATE enables professionals to join an institution valued by businesses worldwide.  There are more than 5,000 employers currently training as ACA students. The qualification provides students with the combination of finance knowledge, accountancy skills and real-world business experience they need to succeed.

ICAEW Chartered Accountants are highly sought after professionals – the qualification is held by board members in 78 of the Financial Times Stock Exchange 100 Index (FTSE 100) companies.

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.