Muscat, July 13th 2016 – Oman Arab Bank (OAB) announced the appointment of banking and finance expert Rashad bin Ali Al-Musafir as Deputy Chief Executive Officer, effective August 14th 2016. An experienced banker and seasoned professional, Al Mussafir will work closely with the Bank’s Chief Executive Officer, Amin Al Husseini and his leadership team, to realize the Bank’s strategic ambitions .
On the occasion, Rashad bin Mohammad Al Zubair, Chairman of the Board, Oman Arab Bank, commented, “Oman Arab Bank has always been committed to hiring and developing talented Omani professionals across all functions and departments especially senior leadership roles. We are pleased to welcome Rashad Al Musafir on board to our growing team and we are confident that his management experience will prove invaluable in further strengthening the Bank and enhancing customer service.”
Amin Rasheed Al Husseini added, “I am delighted to welcome Rashad Al Musafir to Oman Arab Bank and look forward to working hand-in-hand with him to ensure we continue to provide innovative banking solutions to our valued customers. His established track record and in-depth experience will prove invaluable in further strengthening the Bank’s franchise and improving shareholder value in addition to his ability to manage risks in challenging conditions while delivering growth with the guidance and support of its shareholders; Ominvest and the Arab Bank Group.”
Rashad bin Ali Al-Musafir, said, “I am excited to join Oman Arab Bank and be part of a great institution that has a long standing history in providing customers in the Sultanate with a unique and far-reaching banking proposition. I am looking forward to working together with the executive management team to continue taking the Bank from strength to strength .
With 20 years of industry experience and knowledge in running and managing high-profile profitable operations, Rashad joins OAB from Bank Sohar where he worked for almost 10 years in various leadership positions the most recent once being Acting Chief Executive Officer, Chief Financial Officer and Acting Head of Compliance. Prior to that, Rashad worked with Al Madina Gulf Insurance, Oman International Bank and the Central Bank of Oman. A Cleared Certified Public Accountant (CPA); he holds a Bachelor of Arts in Economics and Finance from Boston University and completed the reputable Harvard Business School General Management Program.
OAB was established in 1984 following the acquisition of Arab Bank’s branches in the Sultanate. For over 30 years, Oman Arab Bank (OAB) has been an active contributor to the Sultanate’s ongoing growth and development by offering customers and organizations of all sizes innovative solutions complemented by local and international expertise. Today, OAB provides a comprehensive suite of products and services in Retail banking, Corporate and Project Finance, Investment Banking, Trade Finance and most recently, Islamic Banking. The Bank has provided financing for setting up major projects in Oman that have a wider economic impact including power generation, water desalination, aviation and infrastructure to name but a few.
The Bank’s principal shareholders are Oman International Development and Investment Company SAOG (51%) and Arab Bank PLC (49%).