Muscat, October 06, 2019: In line with its plan to update and modernise its branch network as part of its ongoing transformation journey, Oman Arab Bank (OAB) recently announced the opening of the latest branch to undergo this change – the Al Waqaiba Branch. Ideally located at the commercial district, this newly transformed branch will provide high-quality banking services and solutions for its customers in Suhar.

Commenting on the newly opened branch, Rashad Al Shaikh, the Deputy Head of the Retail Banking Group at OAB said, “OAB is one of the country’s premier banking institutions, and we remain focused on exceeding expectations and delivering new banking experiences for our customers across the country. Given that our branches, in a majority of cases, are our customer’s preferred point of contact with the Bank, we are working towards transforming our entire branch network to offer customers a truly modern, convenient, and a more personalised banking experience no matter where in the country they are located.”

Similar to the previous OAB flagship branches, the Al Waqaiba branch will feature the Bank’s enhanced brand identity, taking on a fresh look and feel. Aesthetically, the design inspiration mirrors the concept of the ‘Omani Skyline’, with different colours representing distinctive aspects. The white symbolises Omani architecture, the brown denotes the sand deserts, the grey references the mountains, and the blue glass overhangs represent the sky.

Furthermore, the modern look is enriched by an array of innovative facilities and services. These include a new meet and greet facility with a streamlined queuing system, private advisory spaces with moving monitors for a more personal interaction, together with digital signature pads and ID card readers within the advisory station design. The main area has three tellers and five customer care advisories with a seating capacity for 70 customers.

As with all flagship branches, the Al Waqaibah branch also includes a dedicated ‘Elite’ section with its own Majlis with a total seating capacity for over 30 customers and three RM Offices. These features will provide the bank’s VIP customers with an exclusive, private, and memorable banking experience that perfectly suit the Bank’s Elite Banking Customers.

“This recently opened flagship branch in Al Waqaiba marks our 14^th transformed branch and as with the others, features only the best innovative technologies for an enhanced customer service experience. We will update the remainder of our branches in due course,” said Rashad Al Shaikh.

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, September 23, 2019: Oman Arab Bank (OAB) recently announced the opening of a new flagship branch at the OMINVEST Business Centre in Madinat Al Irfan. The new introduction is in line with the Bank’s efforts to implement its transformation plan at all its branches across the Sultanate. The customer-centric branch will see the provision of high-quality services and convenient banking solutions to the surrounding community.

The launch event was presided over by Khalid Muhammad Al Zubair, Chairman of OMINVEST and was overseen by Rashad Al Musafir, CEO of OAB, alongside the presence of senior members from OMINVEST and OAB’s management, and staff.

Commenting on the newly opened branch, Al Musafir said, “As the Sultanate’s largest urban development project, Madinat Al Irfan will see the creation of a new downtown area for surrounding residents and businesses. As we continue our transformation to a more customer centric bank, the establishment of this revamped branch, with its stylish design unique only to OAB, will be a welcome addition to the area. It will also provide the community with a modern and easily accessible banking environment together with higher levels of personalised service.”

Similar to the previous OAB flagship branches, the Madinat Al Irfan branch embodies an enhanced brand identity, taking on a fresh look and feel. Aesthetically, the design inspiration mirrors the concept of the ‘Omani Skyline’, with different colours representing distinctive aspects. The white symbolises Omani architecture, the brown denotes the sand deserts, the grey references the mountains, and the blue glass overhangs represent the sky.

Furthermore, the modern outlook is enriched by an array of innovative facilities and services. These include a streamlined queuing system, private advisory spaces with moving monitors for a more personal interaction, together with digital signature pads and ID card readers within the advisory station design. The main area has two tellers and five customer care advisories with a seating capacity for 50 customers.

The new branch also comprises of a dedicated ‘Elite’ section, similar to the other newly launched flagship branches, with a total seating capacity of over ten customers. These features will provide the bank’s VIP customers with an exclusive, private, and memorable banking experience that perfectly suit the Bank’s Elite Banking Customers.

“The recently opened flagship branch features only the best innovative technologies for an enhanced customer service experience. At OAB, we continually aim to exceed the expectation of all our customers, as we strive to meet our strategic objective of becoming the preferred banking institution within the country,” Rashad Al Sheikh, Deputy Head of Group Retail 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, 16 September 2019:  Under the umbrella of its innovation pillar, Oman Arab Bank (OAB) hosted its first ever Innovation Hub earlier in the year with over 320 students, FinTechs and employees participating to create an innovative proof of concept. Following the 24-hour pressure-cooker event, ten student participants had gone on to join OAB as interns. These bright students have now graduated from the Bank’s intensive six-month innovation internship programme.

They were each handed their certificates at a dedicated graduation ceremony, organised by the Bank on Sunday, 15 September, at Fraser Suites Hotel and presided over by CEO, Rashad Al Musafir. Also in attendance at the event were Leen Khattar Al Atassi, Head of Innovation, together with other senior members of management and staff at OAB.

Commenting on the performance of the graduates, Rashad Al Musafir said, “It has been a pleasure to have each of these ten interns with us over these past six months. They are all truly impressive individuals who have proven themselves to be hardworking and dedicated. They have consistently surprised us with their innovative concepts and ideas as well as their ability to think outside of the box, by coming up with clever solutions to persistent problems. I can say with confidence that each of these interns have graduated from the programme having experienced significant transformation at both a professional and personal level and most definitely have very bright futures ahead of them.”

Earlier this year, OAB held the first edition of its Innovation Hub, a 24-hr hackathon where over 300 participants including students, local and global FinTech companies and OAB’s employees competed to create innovative prototypes in a sandbox environment around current industry themes. Following the OAB Innovation Hub, ten students were selected to join OAB’s Innovation Programme, which included a six-month internship and one-to-one mentoring for the students.

As part of its innovation road map, OAB is currently in the process of setting up a first-of-its-kind Innovation Lab in Oman. When completed the OAB Innovation Lab will provide access to one-to-one mentoring, specialised workshops, and industry experts for local students, OAB staff as well as local, regional, and international FinTech companies.

“The first Innovation Hub was only the beginning. With next year’s event set to be even larger and with our Innovation Lab on the verge of being completed, OAB is well on its way towards establishing itself as the centre for innovation and innovative thinking in the Sultanate,” added Leen Al Atassi.

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, September 25, 2019: Oman Arab Bank (OAB) are embarking on new initiatives in enhancing their current Trade Services offerings. As part of this, the bank is now launching a new service called ‘Trade Drop Box’ which is a 24/7 in-house Document Collection Service, where customers could lodge their documents at their convenience any time of the day, irrespective of whether it is a weekday or weekend. Along with this initiative, the Bank has also taken steps to relocate the Trade Finance Department to the ground floor of the Headquarters in Al Ghubra, making it easier for clients to access the Trade Functions in a more efficient manner.

Commenting on the new premises, Al Salt Al Kharusi, the Head of Corporate and Institutional Banking Group said, “Customer excellence is a core pillar of our operational strategy here at OAB and it extends to every aspect of our business. Until recently, our Trade Finance Department was located on the upper floors of the headquarters. By moving to the lobby area, the department is now far more accessible and has a host of new facilities that aim to significantly enhance the banking experience for our growing trade finance customer base.”

As with the Bank’s Elite Services, the revamped trade finance department operates independently as a branch within the headquarters. It sports a complete new look and feel with an enhanced brand identity. The department has also introduced the same efficient queuing system that can be found in any of the Bank’s new branches, ensuring that customer waiting times are kept to the minimum.

“As we initiated the shifting process we also introduced a new 24-hour Trade Finance document drop box in the lobby with the focus of enhancing customer experience, making us the first bank in Oman to provide this facility. This drop box is accessible to customer’s 24-hours a day and even on weekends and public holidays. Although it has been in operation for only a couple of weeks the service has been well patronized and we have obtained strong positive feedback from customers on the convenience and efficiency of the new service offered ” added Deepthika Gooneratne, Head of Trade Finance Department, Corporate and Institutional Banking Division at OAB.

In line with strategic pillars of OAB and with the primary focus of Trade finance being customer excellence, OAB has set its sights on becoming a strong contender in the Trade Services arena in the Sultanate and has some ambitious plans in being the leading trade bank for customer service.

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, 07 August 2019: Oman Arab Bank (OAB) has become the first bank in Oman to be recognised as an Authorised Training Employer of the Institute of Chartered Accountants in England & Wales (ICAEW), a leading international organisation that develops and supports over 150,000 chartered accountants worldwide. The partnership, which is aligned with Oman’s Vision 2040 economic strategy, will help the bank attract and retain talented individuals by offering ICAEW’s prestigious CFAB and ACA qualification at OAB’s Headquarters.

The official certification was awarded to the Bank at a special ceremony held at the Bank’s Headquarters in Ghubra on 5 August. The certificate was handed over to Rashad Al Musafir, CEO at OAB, by Michael Armstrong, ICAEW Regional Director, Middle East, Africa and South Asia. Also in attendance were members of the executive management of OAB including ICAEW Middle East Advisory Board Member and current OAB CFO, Daren Warner.

On receiving the certificate, Rashad Al Musafir said, “ICAEW is a world leader in finance and professional development. Through our collaboration, we aim to accelerate our growth and give our talented employees the opportunity to aim for ambitious targets and, most importantly, contribute to Oman’s Vision 2040 goals.”

“The value of our products and services to customers depends entirely on our ability to unlock the full potential of our staff.  Becoming an ICAEW Authorised Training Employer will help us create a high-performing and innovative organisational culture that can create unique value to our customers, employees and the wider community.”

The new partnership is part of OAB’s various talent management initiatives that are tailored to provide staff with the necessary skills to help accelerate their contribution to the country’s Vision as well as developing a knowledge-based economy.

By providing Omani nationals access to internationally recognised qualifications and training, OAB further reinforces its commitment to Omanisation, making it one of the leading banks in the Sultanate to employ, engage, and develop Omanis.

Michael Armstrong, FCA, ICAEW Regional Director said, “ICAEW works with employers worldwide to support the professional development of their teams. Our partnership with OAB stems from our commitment to equip finance talent with the broad range of technical knowledge and professional skills they need to make a great contribution to their organisation and build strong and resilient economies.”

“As an ICAEW Authorised Training Employer, OAB will be able to prepare employees for the internationally recognised ACA qualification. OAB is highly committed to staying at the forefront of the fast-paced banking industry and becoming one of our training partners will allow them to attract the best talent and develop the next generation of business leaders.”

Completing the ACA qualification through an ATE enables professionals to join an institution valued by businesses worldwide.  There are more than 5,000 employers currently training as ACA students. The qualification provides students with the combination of finance knowledge, accountancy skills and real-world business experience they need to succeed.

ICAEW Chartered Accountants are highly sought after professionals – the qualification is held by board members in 78 of the Financial Times Stock Exchange 100 Index (FTSE 100) companies.

Oman Arab Bank is proud to have achieved the highest Omanisation percentage within the banking sector, nearing 96 per cent. It also 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.