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.

Muscat, June 14, 2020: In light of the Supreme Committee’s recent decision to lift the lockdown in most of the Sultanate’s Wilayats, Oman Arab Bank has announced the reopening of all its 60 branches and offices according to its normal operating hours.

Highlighting the importance of this decision, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “OAB is always committed to offering seamless, high-quality services to our customers, therefore we have decided to adapt to the current situation and gradually return to work, in accordance with the directives of the Supreme Committee. The Bank’s branches, which had been closed during the previous period to ensure the safety of customers and employees, will be resuming work as per normal working hours. We have implemented various precautionary measures and preventive guidelines, as requested by the concerned authorities, to ensure that the highest of safety standards are maintained for our customers and employees.”

During the onset of the pandemic, Oman Arab Bank launched an internal integrated programme to mitigate the risks of infection. ‘Wiqaya’, which was directly supervised by OAB’s Human Resources Division, saw a successful reduction of employees at the workplace as well as the activation of remote working procedures. The Retail Banking Division worked tirelessly through the Bank’s digital platforms to meet customer needs, and minimising their need to visit a branch.

The ‘Wiqaya’ programme was designed to be highly flexible, adaptable to changes where and when required.  The programme helped the Bank successfully overcoming this unprecedented period, from the onset of the pandemic until today. The next phase is largely dependent on awareness and individual responsibility, together with constant monitoring and supervision by the management team.

Rashad added, “Despite having all our branches resume work, as well as the implementation of all precautionary safety measures, we are continuing our efforts to enhance awareness and encourage customers to benefit from one of the best digital infrastructures in the local banking sector, available at Oman Arab Bank. The future depends extensively on advanced technological solutions and we began investing in this field several years ago. This enables us to provide the latest innovative and optimal solutions to our customers, and limits the need for direct personal interaction at this crucial time. It is clear that we are on the right path to achieve our vision for the future, especially in regards to the banking sector in general.”

Oman Arab Bank 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, corporate banking and investment clients.

Muscat, May 21, 2020: Kargeen Restaurant continues its commitment to give throughout the holy month of Ramadan, in collaboration with Oman Arab Bank, Carrefour and other participating brands, by providing Iftar meals to frontline workers combatting the Novel Coronavirus (COVID-19) pandemic.

Commenting on the Bank’s initiative, Hilal Al Siyabi, Head of Corporate Communications at Oman Arab Bank, said “We are proud of everyone who has participated to overcome this global pandemic, and especially those who are working on the frontlines and are putting themselves at risk for the sake of our health and safety. Our involvement in this initiative, which was launched by Kargeen Restaurant, is a small way to support those heroes who have left their homes during the holy month to contribute towards mitigating the risks of the current situation”.

Feras Al Farsi, Head of Social Sustainability at Oman Arab Bank, added “The Bank continues to make partnerships in the community to provide support for the frontline workers who are risking their lives every day.  Over the past few weeks, we have been involved in several endeavours aimed at supporting those who are keeping Oman safe and healthy. On behalf of all the staff at Oman Arab Bank, I would like to extend my thanks and appreciation to each and every frontline worker for their hard work and dedication to Oman, its citizens and residents”.

Through this initiative over 1,000 meals have been distributed to frontline workers, with the initiative scheduled to continue until the end of Ramadan.

Expressing his thanks to all associations that supported and donated to the initiative, Jalil Al Asfoor, CEO of Jalil Al Asfoor Enterprises and Kargeen Restaurant, said “As we specialise in the F&B industry, this initiative is the best of what we can offer as a token of gratitude to all individuals working on the frontline, combatting this pandemic. On behalf of Kargeen Restaurant, I thank all the sponsors and partners that were influential in helping achieve the objective of this initiative. This is a testament to the fact that together we can make a difference”.

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 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.