• The Innovation Lab will serve as a Launchpad for innovative solutions that will enhance customers’ experience, develop the local Fintech ecosystem, promote local talent and accelerate employees’ career journeys.

Muscat, March 15 2020: Oman Arab Bank (OAB) announced today the launch of the first-of-its-kind Innovation Lab in the banking sector at a press conference. The event was held with Rashad Al Musafir, CEO of OAB and other members of the Bank’s Executive Management in attendance.

Commenting on the launch of the Innovation Lab, Rashad Al Musafir said “We are extremely proud to be creating a facility that further supports His Majesty’s vision and Oman’s national agenda to drive innovative thinking, develop local talent and promote entrepreneurship. The design of the Innovation Lab was inspired by two of the best innovation labs in the world, Barclay’s Rise Lab in London, UK, and the Harvard Innovation Lab in Massachusetts, US. The Innovation Lab will host a myriad of opportunities by providing access to one-to-one mentoring, specialised workshops, and industry experts for local students, OAB staff and local, regional, and international Fintech companies.”

The Innovation Lab occupies a floor at the OAB Headquarters and is aimed at driving innovative thinking in a collaborative space and further develop Oman’s knowledge-based economy. This ideology was also reinforced in the royal speech of His Majesty Haitham bin Tariq, when addressing the people of Oman, wherein he said, “Our government will follow up progress in various sectors, including small and medium enterprises, and entrepreneurship, particularly those based on innovation, artificial intelligence, and advanced technology. This is in addition to training and enabling youth to benefit from the opportunities made available in this vital sector, so that it could form a cornerstone in the national economy.” The development of the Innovation Lab is aimed at empowering local talent and entrepreneurs to become viable contributors to the evolution of Oman’s economy through the power of innovation and the spirit of collaboration.

As part of its transformational journey, OAB began the development of various innovative products in line with its efforts to become a more customer-centric bank. The launch of the largest hackathon in the banking industry, the Innovation Hub, was organised last year and it became one of the most distinctive events in Oman. The event in 2019 brought together over 350 participating individuals, far exceeding the initial goal of 200. The initiative encompasses several activities prior to the competition’s date to ensure adequate preparation for all participants. These include roadshows for students across all universities and colleges in the Sultanate and training workshops for both student and staff teams run by the Bank at the Head Office, where participants were provided with a brief introduction to Open Banking, ideation and design thinking workshops, developing proof of concepts, presentation skills and much more.

Leen Al Atassi, Head of Innovation at OAB, commented, “The Innovation Hub was created to encourage innovative thinking and further develop our knowledge-based economy by empowering local fintech companies and professionals, students and our OAB employees to contribute to the evolution of the banking sector. We spent the last few months putting together a spectacular programme designed to accelerate innovation across the industry and chart the future, to unleash the power of Open Banking and create new customers experiences, revenue models and industry ecosystems. However, given the current situation surrounding the spread of the Novel Coronavirus (COVID-19), and following the decision that was made by the Ministry of Health regarding the postponement of events in the Sultanate due to public health measures, the Innovation Hub 2.0 has been re-scheduled and a new date will be communicated in due course. The OAB management holds health and safety at the highest priority and strives to ensure the well-being of everyone.”

“Nevertheless, all registered participants will automatically be registered for the upcoming event, without having to go through the registration process again. This will provide participants, with more time to prepare their ideas, seek guidance and advice, further allowing the event to be more inclusive with an exciting line-up of speakers and activities, and making it even bigger and better for everyone involved,” Leen 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, February 16, 2020: Oman Arab Bank (OAB) has appointed Rashad Al Shaikh as the new Acting Head of Retail Banking Division, as of January 16, 2020. This new initiative is in line with the Bank’s strategy to apply a qualitative strategic approach to Omanisation through a succession plan that aims to develop promising talents in various disciplines.

Commenting on the appointment, Rashad Al Musafir, the CEO of OAB said, “OAB is dedicated to supporting Omani employees by developing their skills and experiences with the aim of providing better career development through strategic plans that are in line with the various banking disciplines. This step is also in accordance with the strategic approach of developing local talents that aim to enhance OAB’s objectives of providing customers with the best possible experiences and services.”

Rashad Al Shaikh holds a B.S. in Business Administration from Central Florida University, Orlando, USA. With over 21 years of experience in banking, and serving a number of senior positions in Retail Banking before joining OAB in 2003. This brings advantages for both OAB and its customers, providing the Bank with experience and innovative ideas to further excel in their ongoing success.

Commenting on the promotion, Rashad stated, “I am delighted to be appointed this new role and I look forward to working with all departments and ensuring the continued success at OAB. I believe this will be best achieved through our various efforts to become an innovative, customer-centric bank.”

Adil Al Rahbi, Head of Human Resources Department, said, “The Human Resources Department at OAB is always keen to recognise individual local talents and support them in the realisation of their career objectives, alongside the provision of support and motivation. We believe that managing talent in an effective way is one of the most important strategic pillars of success. Through this approach, we strive to make Oman Arab Bank the ideal destination for anyone looking for a promising career journey.”

“The Bank’s management policy focuses on the principle of providing persistent and distinguished employees with the opportunity to advance in the career ladder. We conduct several programmes that are designed to prepare them for supervisory and administrative leadership positions,” Al Rahbi added.

This recent appointment is a result of the succession plans that are focused on by the Human Resources Department, which assesses the readiness of Omani staff to carry out greater and more diverse responsibilities through their enrollment in leadership programmes. The programmes are implemented by international experts and also focuses on the development of skills and practical knowledge. Apart from the succession plan, there are also specific strategies and other programmes that focus on providing all employees at all levels within the Bank with the opportunity to further enrich and develop their proficiency and skillsets, to further enhance their career prospects and become future leaders in the banking sector. Moreover, OAB’s talent management strategy aims to apply a qualitative strategic approach to Omanisation, while simultaneously maintaining a diverse and efficient workplace.

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.

Muscat, February 05, 2020: Oman Arab Bank (OAB) recently signed an agreement with Majan Lounge at the Muscat International Airport. The agreement will see platinum and Elite customers gain access to the newly launched lounge at the airport, which has been prepared to receive customers from January 2020. The signing ceremony took place at the OAB head office, with Rashad Al Shaikh, Acting Head of the Retail Bank Division representing the Bank and Engineer Naif Ali Al Abri, Executive Director representing Oman Airports Ground Handling.

Highlighting the importance of the agreement, Rashad Al Shaikh said “OAB prides itself on delivering services that form an integral part of its key pillars. This agreement with Oman Airports will only further the high-quality services that we are implementing to ensure an unmatched customer experience for all our cardholders. We encourage our platinum and Elite customers to utilise this amenity, so as to be able to have a smooth and laidback experience while they are on their travels.”

OAB customers can show their cards at the lounge reception to gain access. For platinum customers, entry is exclusive to the cardholder only, while Elite cardholders are eligible to have a companion as well.

Naif Al Abri commented, “We are extremely proud to be working alongside OAB for the facilitation of ease and convenience for our customers at Muscat Airports. We believe that this partnership will only enhance our offerings and ensure an exceptional travel experience. We look forward to being a part of similar initiatives that OAB might have in the future, to be able to set Oman apart as a popular travel destination, both in the region and in the world. ”

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, December 30, 2019: In line with its transformation strategy for branches across regions in the Sultanate, Oman Arab Bank (OAB) announced the recent opening of its new flagship branch in Ibri. The customer-centric branch hosts facilities aimed at delivering enhanced bank services with the highest levels of accessibility to customers in Ibri.

The opening took place on December 25, under the patronage of HE Dr Hamad Hamdan Al Rubaiy, Shura representative in the Wilayat of Ibri, and overseen by Rashad Al Musafir, CEO of OAB, alongside the presence of other senior members of the Bank’s management and staff.

Commenting on the launch of the new branch, Rashad Al Sheikh Deputy Head of Group Retail said, “Ibri is one of the rapidly developing residential areas in A’Dhahirah Governorate, comprising of a large number of our customer base. The newly transformed branch will be a welcome addition to cater to their modern banking needs. Together with the branch’s spacious layout and distinct contemporary design, OAB will be able to further enhance customer experience through the provision of personalised levels of service.”

Similar to the previous revamped branches, the new Ibra Branch features OAB’s enhanced brand identity with a refreshed look and feel. Aesthetically, its design inspiration has been taken from the ‘Omani Skyline’, wherein the white symbolises Omani architecture, browns denote the sand deserts, grey referencing the mountains, and the blue glass overhangs representing the sky.

The sleek, modern, and streamlined look is augmented by a number of features and systems. These include a new meet and greet facility with a streamlined queuing system, 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 main area has two tellers and six customer care advisories with a seating capacity for 35 customers.

As with each of the other flagship branches launched so far, this new branch also features a dedicated ‘Elite’ section with its own Majlis. These features will provide the bank’s VIP customers with an exclusive, private, and memorable banking experience befitting the Bank’s Elite Banking Customers.

“As our most recently transformed flagship branch, the Ibri division is a combination of the latest technological advances we have to offer together with distinct branch philosophies. In this way, we can continue raising the bar in enriching customer experience,” Al Sheikh 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.

Muscat, 24 December, 2019: In line with its corporate social responsibility strategy, Oman Arab Bank (OAB) conducted a workshop with Injaz Oman on Wednesday December 18^th.The presentation held at Knowledge Oasis explored why pricing was so important, the different pricing strategies, and business control. The lecture was organised as part of an Injaz Oman initiative, with OAB acting as an industry expert.

Injaz Oman is a non-profit organisation which hosts a range of educational programmes, targeting Oman’s youth to help them develop their entrepreneurial skills, empower them and enhance their financial knowledge and leadership abilities. The underlying aim of these programmes is to prepare the students for the labour market by providing them with skills and encouragement, and thus, in the long-term aiding in the development of Oman’s economy.

Commenting on the workshop, Hilal Al Siyabi, Head of Corporate Communication at OAB, said, “We are thrilled to be working with Injaz Oman on this workshop. At OAB, we understand the importance of developing and diversifying not only our knowledge-based economy but the country’s economy as a whole.”

Throughout the workshop, students learned why pricing is so important to their business and were exposed to pricing strategies, along with other relevant areas to develop students’ business knowledge. The OAB lead seminar exposed students to real-life case studies in Oman in order to give them practical knowledge that can be implemented in their own businesses.

“We aim to educate and inspire the youth of Oman by combining theoretical learning with real-life applications to aid students with the development of their businesses. By partnering with OAB, we give students the opportunity to learn from today’s challenges and provide them the tools to develop their business and contribute to Oman’s economy,” stated Azzan Al Busaidi, Operations Manager in Injaz Oman.

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