OAB Hosts Workshop for Brokerage Firms on Payment and Investor Account Management

Muscat, 5 March 2025:

Oman Arab Bank (OAB) organized an exclusive workshop for brokerage firms on its digital virtual system for managing payments and investor accounts at the Muscat Stock Exchange. Recently launched as part of OAB’s suite of advanced financial services for businesses, this initiative reflects the bank’s continued investment in enhancing its digital services and staying at the forefront of global financial technology advancements.

The workshop aimed to enhance brokerage firms’ understanding of this advanced technology, which improves transaction efficiency, simplifies fund management, and ensures regulatory compliance with secure and transparent financial practices.

Held in the presence of the Financial Services Authority (FSA), the event attracted broad participation from leading brokerage firms across the Sultanate of Oman. The event aligned with the Authority’s initiative to introduce electronic trading.

During the workshop, OAB’s team delivered a comprehensive presentation on the technology’s key features, highlighting its role in automating fund management, enhancing security, and improving operational efficiency. The system streamlines settlement processes, minimizes human intervention, and enables real-time tracking of client funds through dedicated virtual accounts while ensuring financial integrity and transparency through transaction monitoring.

The workshop also featured insightful discussions on the importance of adopting digital innovations in financial services.

Sulaiman Al-Hinai, Chief Wholesale Banking Officer at OAB, stated:
“By organizing this exclusive workshop, OAB reaffirms its commitment to supporting the development of the financial sector and sharing its expertise with brokerage firms. Our advanced financial solutions are among the most sophisticated globally and align with the evolving regulatory requirements of the Omani financial sector.”

He explained that the workshop was designed to provide financial brokers with a comprehensive understanding of OAB’s virtual solution for fund management, account settlement automation, and seamless transaction execution through direct integration between client systems and the bank’s payment system.

He added that this technology represents a major advancement in saving time, effort, and operational costs in banking and financial transactions. It adopts the latest global, simplified, and highly efficient communication system for transmitting financial messages and transactions securely and seamlessly between clients and the bank. This innovation marks a significant leap in OAB’s business services, strengthening its support for private and public sector companies in achieving growth, success, and optimal operational efficiency.

The organization of this workshop aligns with the directives issued by the FSA and reflects the bank’s leadership in advancing the banking sector. It also supports the objectives of Oman’s Sustainability Program, which aims to develop the banking and financial sector, enhance the capital market, and strengthen their role in sustainable economic development.

20% Instant Discounts on Groceries at “Lulu Hypermarket”
Oman Arab Bank Launches the “#Ramadan_Goodness” Promotion for Visa Credit Card Holders

Muscat, 26 February 2025:
In celebration of the arrival of the blessed month of Ramadan and its ongoing commitment to providing innovative offers that enhance customer experiences during this holy month, Oman Arab Bank has launched the exclusive “#Ramadan_Goodness” promotion for Visa credit cardholders, in collaboration with Lulu Hypermarket chain. This offer will be available on weekends (Friday and Saturday) from 21 February to 15 March 2025. During this period, bank customers holding Visa credit cards will enjoy an instant discount of 20% on food products, with a maximum discount of 5 Omani Riyals per transaction.

This new promotional offer provides a unique opportunity for the bank’s Visa credit cardholders to enjoy a discount on their Ramadan shopping needs, either at Lulu Hypermarket branches or through online shopping, making the shopping experience more convenient and affordable.

Commenting on the #Ramadan_Goodness campaign, Mr. Jumaa Al-Faliti, Deputy Head of Retail Banking, stated: “This offer has been crafted to provide tangible added value for our esteemed customers, in celebration of the forthcoming holy month of Ramadan. May Allah bestow goodness and blessings upon all. As food and fresh produce purchases rise during this season, we aimed to gift our customers up to 20% off their purchases at the renowned Lulu stores as a token of appreciation from the bank to all our valued customers.”

Oman Arab Bank continuously strives to meet its customers’ needs by offering exclusive promotions and multiple benefits during the holy month. These benefits ease financial burdens and reflect the bank’s ongoing commitment to supporting the local community by providing ideal opportunities to contribute to the welfare of Omani families.

Oman Arab Bank was one of the first banks to start operations in the Sultanate and boasts a long history of achievements that everyone is proud of. Today, the bank operates 54 branches, representative offices and 160 ATMs across the Sultanate. The bank also offers a wide range of banking products and services through its advanced mobile app, which allows customers to open new accounts and access many other services directly from their mobile phones.

In a New Step to Enhance Its Commercial Services

Oman Arab Bank Launches a New Suite of Digital Commercial Banking Services

Muscat, February 10, 2025:

As part of its ongoing efforts to lead the banking sector, Oman Arab Bank (OAB) unveiled a new suite of banking e-services for small and medium enterprises (SMEs), corporate clients and government entities on Sunday, February 9. The launch took place at a special event hosted by the bank under the patronage of H.E. Dr. Said bin Mohammed bin Ahmed Al-Saqri, Minister of Economy, with the presence of more than 800 bank clients and high-profile guests.

The newly introduced digital commercial banking solutions from OAB provide businesses with seamless, real-time access to their financial transactions, enabling them to process payments, authorise transactions and manage payroll efficiently. The new e-services include:

1. Mobile Commercial Banking Application:
   • This will allow the bank’s valued customers to manage their banking accounts and conduct business transactions such as payments, payroll and transaction approvals at any time and from any location.
2. Host-to-Host Payment Solutions:
   • A direct connection system linking the clients’ systems with the bank’s payment system, incorporating the latest developments in this field, significantly saving time and effort while reducing banking transaction costs.
3. Global “SWIFTNet” System:
   • A global system that offers simplified connectivity for securely, quickly and efficiently transferring messages and financial transactions from the client to the bank.

By leveraging these advanced technologies, OAB empowers businesses with greater financial control, operational efficiency and a future-ready digital banking experience.

Speaking about the bank’s vision for innovation in banking solutions, Sulaiman Hamed Al Harthi, CEO of Oman Arab Bank, stated, “In light of the rapid technological developments in banking, Oman Arab Bank continues its diligent efforts to adopt and localise the latest technologies, exploring the best digital solutions and utilising them. Its focus is serving the nation and supporting its development journey, setting an example of excellence and leadership in the banking sector. From this perspective, we have been eager to provide innovative banking services that cater to the needs of various sectors, beginning with micro-enterprises and progressing to small and medium-sized enterprises, which form the backbone of the national economy and are an essential part of the vital resources in advancing this generous nation and extending to large companies and public and private institutions that play a role in driving development.”

Meanwhile, Sulaiman Ali Al Hinai, Chief Wholesale Banking Officer, commented, “These solutions have been meticulously designed following comprehensive studies to offer you the highest levels of security, flexibility and ease in managing your businesses, thereby enhancing your capacity to grow and evolve in a world facing shifts in needs and accelerating challenges. The launch of these solutions reaffirms our continued leadership in digital commercial banking services, where we do not merely keep pace with trends but consistently strive to be at the forefront of innovation, elevating the standards in delivering this type of service and becoming the model to emulate and the reference point to acknowledge.”

OAB is recognised for its strong commitment to leading the banking sector through ongoing investment in cutting-edge technology and efforts to meet and exceed customer expectations.

Muscat: In celebration of the fifth Ascension Day of His Majesty Sultan Haitham bin Tariq Al Said, Oman Arab Bank (OAB), in collaboration with Visa International, is taking part in the national campaign for discounts and promotional offers, “Oman Celebrates”. This campaign is organized by the Ministry of Commerce, Industry, and Investment Promotion, and will run from January 11 to February 11, 2025.

The bank’s participation in this campaign reflects its commitment to enhancing the partnership between public and private sectors to achieve economic development, support national products, and promote activities of small and medium-sized enterprises, thus contributing to Oman Vision 2040 goals.

To encourage its customers to take advantage of the offers, OAB is offering attractive promotional deals, including discounts and exclusive benefits when using OAB Visa cards during the campaign period. The discounts reach up to 50% at major shopping centers and 30% at other establishments. The campaign also includes daily and weekly prizes, totaling about 30 awards.

Sulaiman Al Harthi, CEO of OAB, stated: “OAB is pleased to contribute to the promotional campaign ‘Oman Celebrates,’ which coincides with a glorious national occasion, the fifth anniversary of His Majesty Sultan Haitham bin Tariq’s assumption of power. Through its participation in this campaign, the bank aims to stimulate economic and commercial activity, and reward its customers with attractive offers and discounts provided to OAB Visa cardholders.”

He added: “This national campaign coincides with the launch of Oman’s promotional identity under the patronage of His Majesty Sultan Haitham bin Tariq. OAB’s participation supports enhancing the position of Oman as a global investment destination by promoting national products, which contributes to reducing imports, increasing non-oil exports, and strengthening the presence of Omani products in local and global markets. Through this participation, OAB continues its efforts and initiatives to achieve the goals of Oman Vision 2040 by advancing its services, digitizing its offerings, and enriching the customer experience, with the aim of ensuring continued development in the Omani banking sector in line with best global standards and expanding its role in sustainable development.

OAB also holds a prominent leadership position in launching initiatives and programs that contribute to building national capabilities, preparing future leaders, supporting SMEs, and their role as a driver of innovation, economic growth, and job opportunities.”

Oman Arab Bank (OAB) has announced the appointment of Zahra Abdulamir Saied as Chief Risk Officer, emphasizing the bank’s commitment to nurturing national talent and empowering female leaders across various levels.

Recognized as one of Oman’s distinguished banking professionals, Zahra is the First Omani Female to earn the Financial Risk Management certification from the Global Association of Risk Professionals (GARP). With over 15 years in financial risk management, she has left a significant impact across numerous roles. Since joining OAB, Zahra has served as Assistant General Manager and Head of the Credit Review Department, excelling in monitoring credit quality, regulatory compliance, and risk management strategies, alongside leading daily business operations, talent development initiatives, and training programs.

Sulaiman Al Harthi, CEO of OAB, stated, “Risk management plays a vital role in the financial and banking sectors by mitigating risks and enabling institutions to continue operations and growth in an ever-evolving global environment. We are pleased to appoint Zahra Abdulamir as Chief Risk Officer, adding her to our substantial pool of young national talents in senior positions across OAB, including promising female leaders. This reflects our success in investing in human resources through world-class training programs to nurture talent and prepare future leaders.”

Al Harthi added, “Zahra’s extensive expertise and capabilities will significantly enhance our risk management operations and support the bank’s long-term growth. We wish her and our talented team continued success. This new role marks a milestone in her career, offering opportunities to further develop her skills and play a vital role in OAB’s transformation toward digitalization and enhanced customer experiences.”

With her expertise and dedication to achieving strategic goals, Zahra has become a distinguished leader in operational, credit, market, and regulatory risk management in Oman. She graduated from the University of Warwick with a bachelor’s degree in Mathematics, Economics, and Statistics, and holds an MBA from IE Business School in Madrid. Her knowledge is further enriched by courses in data science and machine learning from MIT.