Muscat, May 12, 2020: Oman Arab Bank (OAB) recently announced the names of the 133 winners of its March monthly Hasaad Savings Scheme draw. These winners included 95 winners of the monthly branch draws of OMR 1,000 each, OMR 100 for ten winners from the Bank’s Children’s draw for those under the age of 18 and 20 from the Bank’s Youth Holders who are between the age of 18 and 27 of OMR 100 each, OMR 500 for 5 winners from the Bank’s Salary draw. This month also included the first quarterly ‘Big Prize’ draw, which saw one of the bank’s customers win OMR 25,000 and two winners of the monthly Elite Draw of OMR 10,000 each.

Commenting on the recent draw results, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB said, “In light of the current challenges and market closure since mid-March, we have noticed an increase in the amount of savings of our valued customers, which in turn, has led to a rise in their chances of winning prizes of Hasaad Savings scheme draw. This reaffirms the need to enhance finances and focus more on savings to ensure a better future for all their family members, as well as enhancing their financial ability to deal with emergencies, such as the COVID-19 pandemic, currently impacting not only the Sultanate but the world as well.  We are proud that Hasaad Savings Scheme has contributed to the creating of a savings culture among the various segments of the society, over the past years, which has proven its worth during these difficult times. ”

As a part of the scheme, 95 lucky winners, with a minimum of one winner in each branch, will receive a prize of OMR 500 monthly, reaching OMR 1,000 each quarter. There will be 10 winners of OMR 100 each for the Children’s account holders, aged 18 and below; 20 winners of OMR 100 each for Youth account holders, aged between 18 and 27 and two winners of OMR 10,000 each as part of the monthly Elite Draw. The latter Elite draw, however, will see its monthly draw replaced by a Grand Prize draw of OMR 50,000 for one lucky Elite customer, which will occur twice a year, in June and December. In addition to these monthly draws, the Bank will also be conducting a special ‘Big Prize’ draw of OMR 25,000 for one winner across its branch network at the end of every quarter.

A new introduction this year is the Salary Transfer draw, which provides 5 winners with a prize of OMR 500 each month, as well as a guaranteed gift to children and youth (up to 27 years old), once a year, respectively. Moreover, OAB is the only Bank that will be providing a guaranteed gift to its youth customers.

“The March draw marks the end of the first quarter of the year. I would like to extend my congratulations to all the lucky winners and look forward to seeing the largest number of winners in the upcoming nine monthly draws. I encourage each and every one of our valued customers to continue saving, so as to maximise their chances of winning amazing prizes and wish them all the very best of luck for 2020.” Rashad 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 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.

• Customers can choose the association and the amount and donate with a single press of a button

Muscat, May 4, 2020:In line with its efforts to enhance its digital offerings and on the occasion of the holy month of Ramadan, Oman Arab Bank has launched a special platform dedicated to providing donations through the OAB app. Customers who wish to donate can select their preferred association and the amount, and donate through their mobile phones.

Commenting on the importance of launching the new digital platform, Hilal Al Siyabi, Head of Corporate Communications at Oman Arab Bank, said “We have decided to launch this initiative to offer our customers an opportunity to donate money utilising a quick and easy solution. We host several charitable associations on this platform and all that our customers have to do is select the relevant association they want to support and the process will be completed in a few seconds”.

“We currently have a number associations and civil society organisations from various fields, including Dar Al Atta’a, Al Noor Association for the Blind, Association of Early Intervention for Children with Disability, Environment Society of Oman, Takaful Social Account (related to the Ministry of Social Development) and the COVID-19 account from the Ministry of Health. Attendance is open to all organisations working in the social sector and we are in contact with most of them, so as to provide them with an opportunity to be a part of this advanced platform,” Hilal 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 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.

Muscat, April 21, 2020: Today, Oman Arab Bank announced that it has received the approval of the Central Bank of Oman on the proposed merger with Alizz Islamic Bank. The negotiation of this project began late last year.

The merger which is expected to be complete before the end of this year will result in the transformation of Alizz Islamic Bank SAOG into a closed joint-stock company SAOC. It will see the transfer of its full ownership to Oman Arab Bank as a subsidiary specialising in Islamic banking, alongside the transfer of assets, rights and obligations of Al Yusr Islamic Banking, a window of Oman Arab Bank, to Alizz Islamic Bank SAOC. Moreover, Oman Arab Bank will be transformed into a public joint-stock company.

Rashad Al Musafir, CEO of OAB, confirmed that the proposal received the approval of the Central Bank of Oman and that it is set to start moving forward to obtaining the go-ahead from the Capital Market Authority and other relevant regulatory bodies. He also indicated the confidence of the Board of Directors in the future of the national economy and the need to promote local investments from the private sector, to drive growth during the upcoming period.

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.

Muscat, April 9, 2020: As part of its endeavours to facilitate donations and contributions to the Ministry of Health to support its efforts in fighting the Novel Coronavirus (COVID-19), Oman Arab Bank has announced the update of its mobile application to allow its customers to donate directly to the donation and support account for MoH, with the Bank.

Commenting on this update, Rashad Al Shaikh, Acting Head of Retail Banking Division said, “We are looking into different possible ways to facilitate the donation process for MoH for our valued customers. Therefore, we have worked on updating the OAB app to include the option of donating directly from their phones to the MoH account with the Bank. We have also facilitated the ATMs and CDMs to include the same service, as well as the Bank’s website.”

“In line with the directives of the Supreme Committee to encourage social distancing and reduce the movement of citizens and residents to a minimum, we have initiated this opportunity to donate remotely through the app because we believe that there are several people who wish to donate, but are instead committed to staying at home due to the current situation. OAB believes that this service will witness a huge turnout from all our valued customers,” Rasha added.

OAB has recently launched a dedicated account on ‘500-500500-3160’ to support the efforts of the Ministry of Health against the Novel Coronavirus (COVID-19) and has also donated OMR 500,000 to this account.

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.

Muscat, March 29, 2020: Oman Arab Bank (OAB) has announced the opening of a dedicated account to support the efforts of the Ministry of Health (MoH) against the Novel Coronavirus (Covid-19). The Bank also announced that it will donate OMR 500,000 to the account.

Rashad Al Musafir, CEO of OAB said, “The launch of this initiative is in line with the directives of His Majesty Sultan Haitham bin Tariq – may the Almighty protect and preserve him – to support the efforts of the government in achieving the objective of cooperation between everyone in the face of this global pandemic, and also stems from our belief that what we face today, require all of us to stand together as one. Moreover, we also believe that everything that the health staff has done until today is truly a heroic act and that everyone should support them to enable them to perform their duties to the fullest. Therefore, OAB initiated the opening of the donation account for the MoH to support them in their efforts against the Coronavirus, and it was our responsibility to donate to this account as part of our efforts to support the country. I am confident that all our customers, employees, the Omani people and residents will each contribute according to the best of their ability to achieve the goal of this initiative.”

From his side, Sulaiman Al Hinai, Head of Treasury, Investment & Government Relations said, “Bank customers who wish to contribute can donate to the account electronically from their phones using the OAB application while non-customers can transfer the amounts they wish to donate from any of the local banks to this account.”

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.