Oman Arab Bank (OAB) has participated in the syndicated term loan facility along with Omani and Emirati banks to secure a syndicated loan of OMR 577 million for Hafeet Rail Company. This loan will fund the construction of the first railway line linking the Sultanate of Oman and the United Arab Emirates.

This railway project is one of the most strategic initiatives currently underway, aimed at significantly boosting economic growth and enhancing commercial and logistical activities between the two countries. Through its involvement in this financing, OAB reaffirms its commitment to supporting major development projects across Oman, offering innovative banking services and solutions that contribute to the growth of various sectors and align with the economic diversification goals outlined in Oman Vision 2040.

Sulaiman Al Hinai, Chief Wholesale Banking Officer of OAB, stated: “We are proud to have contributed to the successful arrangement of the OMR 577 million syndicated loan for Hafeet Rail. This loan supports one of the largest and most vital strategic projects in Oman, with total investments exceeding OMR 961 million. The trust placed in this project by local, regional, and international banks is a testament to the strength of Oman’s economy.”

Al Hinai emphasized that the railway line is the first of its kind between Oman and the UAE, reflecting the ambitious strategic visions of both nations to enhance trade and economic integration within the region and achieve sustainable growth. The project will also play a key role in strengthening social cohesion and fostering closer relations between the two countries.

He added: “At OAB, we are proud to be involved in this consortium, which underscores our position as a leading financial institution with a strong financial foundation, excellent credit rating, and vast experience in financing major strategic projects in various sectors across Oman.

Over the past decades, OAB’s banking and commercial financing portfolio has encompassed numerous flagship projects in sectors such as energy, infrastructure, real estate, tourism, healthcare, and more. Recently, the bank has expanded its portfolio to include new strategic projects in the oil and sustainable cities sectors, further supporting the nation’s growth and sustainable development objectives in line with Oman Vision 2040.”

As part of its strategy to enhance services by employing the latest financial technologies, Oman Arab Bank (OAB) has signed a partnership agreement with Oman Computer Network Services (OCNS), the authorized agent in the Sultanate of Oman for Diebold Nixdorf (DN). This agreement aims to enhance the bank’s network of ATMs and cash deposit machines with DN devices, which represent the new generation of advanced financial solutions, enabling easy and secure self-service banking transactions through a fully digital interface.

The agreement was signed by Khalid Al-Amri, Chief Retail Banking Officer at OAB, and Ahmed Youssef, Country Manager of OCNS.

Mr. Al-Amri said: “OAB is a pioneer in adopting advanced technological solutions that enrich banking services and enhance the prestigious position the bank holds in the Omani banking sector. We are proud of this partnership with OCNS, through which the bank is launching the new generation of self-service ATMs. Under this agreement, OAB’s ATM network will initially be expanded with 57 devices from the DN series, which enable customers to perform a wide range of services instantly, independently, easily, and securely.”

The launch of these advanced financial solutions by OAB reaffirms its continued success in upgrading its technological infrastructure, enhancing its leadership in driving the growth of the banking and financial sector in the Sultanate of Oman, and providing innovative and reliable solutions to its customers. The bank continues to develop its services across electronic channels and platforms, offering a wide range of innovative solutions and services to various customer segments, including institutions in the public and private sectors, entrepreneurs, and individuals.

Al-Amri added: “OAB is committed to continuously developing its services and offering new solutions that meet customer expectations, providing them with the best banking experiences.”

Ahmed Youssef, Director of OCNS, said: “DN devices represent a significant leap in the development of financial solutions, as they rely on the latest technologies, such as big data and the Internet of Things. These devices are designed to keep pace with advancements in the financial services sector and the significant expansion of electronic systems in banking. DN devices are widely adopted in the Middle East and globally due to their success in providing a personalized and advanced banking experience for consumers, while ensuring the highest levels of efficiency and security.”

Muscat: Oman Arab Bank (OAB) recently celebrated the opening of its newest branch in the Wilayat of Saham, under the patronage of His Excellency Dr. Sheikh Sultan bin Abdullah bin Saleh Al-Battashi, Wali of Wilayat Saham, and in the presence of several officials from government institutions, members of the executive management of OAB, and bank customers.

The branch has been equipped with the latest modern facilities and advanced technological infrastructure in line with the bank’s digital transformation strategy to provide customers with an exceptional financial experience.

In a pioneering move by OAB, the Saham branch is designed to be fully prepared to welcome and serve customers with disabilities, thereby achieving full accessibility for this segment of clients. The bank aims to extend this service to all its branches across various governorates.

The opening of the new branch in Saham comes after its relocation to a distinguished site in the center of the wilayat. Its design features a contemporary and unique identity that reflects the brand’s details of OAB. The design integrates modern facilities for welcoming and serving customers with the goal of digital transformation, which focuses on providing an enriching customer experience and enhancing satisfaction levels with the services offered. The branch includes a reception area and dedicated offices for Elite account holders, providing the bank’s Elite customers with a premium and distinguished experience while maintaining the privacy of their transactions.

Khalid Al-Amri, Chief Retail Banking Officer at OAB, said: “Some ideas may seem like a difficult dream to implement until someone believes in them and adopts them to turn them into a beautiful reality. The OAB branch in Wilayat Saham is an example of this, as it offers a comprehensive experience of modern banking services that rely on technology and meet the needs of all segments of society, allowing various customer segments to easily complete their transactions.”

The branch has been prepared to be disability-friendly, facilitating easy access to the services provided by the bank. This includes the provision of all necessary facilities, starting with a ramp designed to assist individuals with mobility disabilities from the entrance of the branch, as well as a designated pathway and waiting area for them. Additionally, there is a counter staffed by a trained employee who can communicate in sign language, along with assistive systems such as an ATM and a site map in Braille to help visually impaired individuals navigate the available services. An auditory device is also available to clearly transmit sound for individuals with hearing impairments.

Al-Amri added: “The new OAB branch in Saham represents a modern banking environment with full services and facilities aimed at providing the best services to our individual and corporate clients, enriching their banking experience through the digital transformation of services. With the opening of this branch, OAB continues its ongoing development of services and facilitates access to them, whether through the growing network of branches or the modern digital services and advanced self-service ATMs.”

Through its expansion plan, OAB aims to be close to its customers, currently operating 50 branches in various regions and governorates. The bank’s network of ATMs is spread across vital locations throughout the Sultanate of Oman, consisting of 147 advanced machines that allow for the completion of many services. Additionally, the bank continuously expands its services through digital channels that enable customers to complete transactions quickly and easily, saving them time and effort.

Muscat: Oman Arab Bank (OAB) has signed a cooperation agreement with the “Badir” Fund for development of small and medium enterprises (SMEs), which is managed by the Arab Fund for Economic and Social Development in Kuwait (AFESD).

The partnership between the bank and the Badir Fund, both of which have extensive experience in developing small and medium enterprises, aims to support entrepreneurs in the Sultanate of Oman by enhancing their projects and expanding their business scope.

The agreement was signed by Sulaiman Al-Harthy, Chief Executive Officer of OAB, and Bader Mohammed Al-Saad, Director General and Chairman of the Board of the Badir Fund.

Al-Harthy, CEO of OAB, said: “The entrepreneurship sector in Oman continues to thrive amidst the ongoing momentum of economic growth and the significant support this sector receives at all levels. OAB takes pride in its contributions towards creating an encouraging environment for the growth of the private sector and entrepreneurship projects, in line with the objectives of Oman Vision 2040, which relies on the private sector to lead growth and expand economic diversification sectors. The bank’s initiatives have provided substantial support for the growth of SMEs, particularly the ‘Tumouhi’ program, which offers innovative and broad services and products for these enterprises”.

Mr. Al-Harthy expressed his delight in collaborating with the “Badir” Fund, noting that this partnership will undoubtedly enhance the support provided by the bank to SMEs. He also highlighted that the agreement represents a new impetus for maintaining the momentum of growth and development in the entrepreneurship sector, contributing to expanding the horizons of economic diversification in the Sultanate of Oman.

Mr. Al-Saad stated: “We are pleased to sign a cooperation agreement with OAB, which is a prestigious financial institution that occupies a leading position in the Omani banking sector. The bank offers numerous efforts and initiatives to support SMEs in the Sultanate of Oman, contributing to the growth of this promising sector, which is a vital route for achieving sustainable development”.

He added that the “Badir” Fund aims to assist in the development and enhancement of the capabilities of the private sector and SMEs in Arab countries by providing appropriate technical and advisory assistance, as well as contributing to financing private sector projects on commercial and developmental bases, to achieve effective contributions to economic development in Arab countries.

OAB is dedicated to fostering entrepreneurial projects by continually enhancing its initiatives and financial and technical support programs. This commitment paves the way for the success of these ventures, reflecting the bank’s belief in their crucial role in driving economic growth and creating job opportunities for Omani citizens.

The “Badir” Fund plays a significant role in providing financial resources and attracting the necessary capital to finance and support private sector projects and SMEs in Arab countries. The fund was established as part of the decisions made at the Arab Economic Summit held in Kuwait in 2009, and it is managed by the Arab Fund for Economic and Social Development.

Muscat: To celebrate the joy of returning to school with children, Oman Arab Bank (OAB) organized various activities in both City Centre Muscat and ,Mall of Oman which included many interesting educational activities, competitions, and offering valuable gifts and prizes, including competitions, gifts, and raffles for valuable prizes, including Samsung tablets, to encourage young students to be interested in studying and academic achievement.

Khalid Al Amri, Chief of Retail Banking Officer at OAB, said: “We are pleased at OAB to share the joy of the new academic year with the children and their parents, as it will be full of exciting educational experiences for the students. OAB has enhanced these experiences with a program full of events that develop knowledge and encourage the spirit of competition and innovation. We also ensured that the events provide the opportunity to educate children financially and introduce children’s saving accounts at OAB to their parents.”

OAB provides many advantages for children’s accounts, including the ability for customers to easily open an account for their children through the bank’s application or online banking platforms without needing to visit its branches.

The children’s savings account offers many advantages, such as account monitoring via mobile application, a free direct debit card, easy and secure transfer between accounts, interest of up to 2.25% p.a. , the highest return among banks in the Sultanate of Oman, life insurance of up to OMR 50,000, gifts on the child’s birthday, and discounts in many stores.

The account also provides flexibility in managing the savings by setting the monthly savings amount and modifying monthly deposits at any time without any fees, with a convenient savings plan by sending monthly deduction instructions for free once the account is opened, which will automatically deduct the amounts every month and transfer them to the child’s account over the plan.

Through these services and benefits, the bank continues to provide the best services to its customers, encourage and develop a culture of saving among children and members of society, and help them plan for their children’s future early.