OAB Hayakkum Roadshow Arrives in Salalah

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Muscat, 27 August 2019: Oman Arab Bank’s (OAB) ongoing Hayakkum roadshow has made its third stop in Salalah on August 23, at Salalah Gardens Mall. As with the previous two events, this latest Hayakkum roadshow included a number of fun activities for both children and adults. The event also provided a platform for a number of SMEs from the region to showcase their products and services.

Commenting on the roadshow, Hilal Al Siyabi, the Head of Corporate Communication at OAB said, “Maintaining an excellent relationship with our customers is a key focus area of our operations in Oman. To this end, it is vital to nurture lasting relationships and get closer to the community. Informal gatherings such as these, allow us to interact directly with our customers as well as address any queries or concerns they might have.”

Hayakkum Salalah is the third in a series of four gatherings where the Bank will be addressing their customer’s queries and showcasing the Bank’s range of products and services. These include everything from the Bank’s Hasaad Savings Accounts, to biometric security and mobile banking. As with the event in Nizwa, OAB once again invited a number of artisans from the region to join them at the Mall and participate in the roadshow.

“In addition to interacting with the community, promoting local SMEs is also a vital aspect of our Hayakkum roadshow. The event serves as a great meeting space for local families and entrepreneurs, giving the locals a better idea of products and services offered by budding entrepreneurs in the region,” added Hilal Al Siyabi.

This event was first and foremost a family event. As such, the bank also hosted a number of fun activities for the entire family to enjoy in the ‘Kid’s Zone’, such as face painting, henna, games and spot prizes, together with a ‘mad science show’. The Bank also hosted a special performance by local Omani singer Muayad Habras.

This is the second to last stop on OAB’s Hayakkum Roadshow. The final destination will be City Centre Sohar next month.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across the Sultanate. OAB provides a complete range of financial products and services for personal banking, corporate and investment clients.

OAB Hosts SME Financial Management Workshop

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Muscat, July 18, 2019: Oman Arab Bank (OAB) recently organized its first SME financial management workshop, attracting businesses from diverse industries that bank with OAB. This event was in line with the Bank’s objective to support the development of small local businesses as well as to foster long-lasting partnerships with these companies.

Commenting on the workshop, Al Salt Al Kharusi, the Head of Corporate and Institutional Banking Group said, “Given the importance of the SME sector as a key contributor to trade, employment and economic growth in the Sultanate, it is critical that the sector receives adequate support. This workshop was specifically designed to provide these companies with useful knowledge on how to make the most of their resources. This is a topic that most budding businesses initially struggle with and is particularly important to address at an early stage. In doing so we can ensure these businesses establish a strong foundation for themselves and efficiently leverage every tool at their disposal to guarantee business success.”

This latest workshop held on July 17 at the OAB headquarters in Ghubra saw an attendance of over 20 entrepreneurs and staff from several SMEs operating in the capital. The workshop focused on how to manage business finances and provided the SME’s with a deeper insight into the various financial products and services available to them, both from the Bank as well as from the government and other financial institutions. It also showcased how to best make use of these tools and when. The workshop was conducted by Mohammed Zadjali from the Capital Market Authority and was overseen by the Bank’s SME team.

“As the government continues to act on and develop the country’s economic diversification strategy, SMEs will continue to play a key part in its growth. As one of the oldest banking institutions in the country, OAB has a wealth of knowledge and expertise to offer these budding businesses as they navigate the market and expand their business,”  Jamal Al Wahaibi, Head of the SME Department explained, “Furthermore, as these companies become established, their relationship with the bank will be critical. Built upon a foundation of trust and confidence, this relationship is usually one for the long term. It is for this reason that we continue to host such workshops and events; as this will not only allow us to demonstrate the importance we attach to the growth of SMEs in the country, but will also takes our relationship with these companies to the next level.”

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.

OAB Signs MoU with Majan University College for New Payment Gateway

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Muscat, July 16, 2019: Oman Arab Bank (OAB) recently signed an MoU with Majan University College (MUC) for the implementation of an e-Payment Gateway System. The new gateway will facilitate the introduction of online payments via the college’s website and mobile app. It will also see the introduction of new payment kiosks at the college premises. In addition, the University College signed with OAB for an easy payment plan agreement which allows OAB credit card holders to avail a 0% interest installment plan for up to 12 months. This offer will be available for undergraduate students on specified days during the registration period every semester.

Both MoU’s were signed on Wednesday, July 10, 2019, at the OAB headquarters in Ghubra. Representing MUC at the event was Dr. Maha Kobeil, Dean of Majan University College, Rashid Amir Mohamed Al Musalhi, the Vice Chairman of the Board of Directors, and Amr Ebeid, the Financial Controller of Majan University College, while OAB was represented by Fahd Amjad, GM of the Retail Banking Group. Also in attendance were members of senior management and staff from the Bank and the College.

Commenting on the signing of the MoU, Fahd Amjad, said, “This partnership with Majan University College marks yet another milestone in the growth of our e-payment gateway business. The signing of this agreement is also in line with our objective of establishing synergies and partnerships that will advance the country’s shift towards a complete digital future – a key pillar of our operational strategy.”

The OAB e-payment gateway has been developed with the very latest technology and to the highest standards of security. This is to ensure its conformity with the demands of both local and global regulators and security control standards, including the Payment Card Industry Data Security Standard (PCI DSS). It has been designed to help streamline payments made to merchants, allowing them to benefit from reduced administrative costs and time to follow up and collect recurrent payments from customers.  This in turn guarantees a consistent cash flow.

“We are glad to have partnered with OAB for the implementation of their established e-payment gateway at our college. Their gateway has a proven track record of reliability and speed that, when coupled with the introduction of the new payment kiosks and the gateway’s direct integration into our website and mobile app, will provide added convenience for our customers. It will also ensure that the entire process is much faster and more cost efficient for us,” added Dr. Maha Kobeil.

“We are quickly establishing ourselves as a key player within the education sector with our e-payment gateway having already been implemented at Buraimi College and Sohar University. We have also signed an MoU for the implementation of our gateway at the Ministry of Education, which is expected to go live soon,” concluded Fahd Amjad.

Majan University College was established in 1995 as the first private sector college in Oman, and has continued to be at the forefront of higher education in the Sultanate ever since. In December 2017, MUC achieved full institutional accreditation from the Oman Academic Accreditation Authority (OAAA), maintaining its reputation as a trailblazer by being the first higher education institution in the country to do so. MUC is located on a single campus in Darsait which is home to a multi-cultural academic community with more than a hundred staff from various countries and a student population of over 3,500. MUC is an accredited college of the University of Bedfordshire, UK, and operates under the supervision of the Ministry of Higher Education, 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.

OAB Hosts Project Presentations for ‘LEAD 3’ Development Programme – Module 4

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Muscat, July 09, 2017: Oman Arab Bank (OAB) has announced that 20 qualified candidates have now completed the fourth and final module of LEAD 3 (Leadership Enhancement and Development). The candidates concluded Module 4 with group presentations to the senior management from the Bank.

The LEAD 3 event was hosted at the Grand Millennium, under the auspices of Stephen Bennett, Founder and Chairman of Inspirational Development Group (IDG). It was overseen by Hani Zubair, Member of the Board of Directors of OAB, and devoted supporter of OAB initiatives that directly impact the development of young Omanis in the Sultanate, as well as Rashad Al Musafir, Chief Executive Officer of OAB. Also in attendance were several members of the Bank’s Executive Management.

Commenting on the LEAD programme, Rashad Al Musafir said, “At OAB, we believe that leadership is exemplified through a number of personal qualities, we aim to encourage these qualities throughout the LEAD module. A leader at OAB is someone who has the ability to influence their peers to accomplish both individual goals and those of the Bank. Communication skills, group processes, goal attainment, and motivation are all vital qualities for any leader. These qualities help drive innovation, improve organisational processes and individual work practices. Our LEAD programme has been specifically developed to identify and propel our Bank’s future leaders.”

Module 4 was initiated almost immediately following the completion of Module 3 just under three weeks ago. The 20 LEAD candidates were grouped into four teams where they worked on projects with the help and support of their mentors. They subsequently developed their project and presented it to the management on the day of the event for assessment and feedback.

The final component of the LEAD 3 programme will involve a second 360-degree assessment which is expected to be completed in late October. Shortly thereafter the 20 candidates will officially graduate from the programme and be fast-tracked to positions of greater responsibility within the Bank.

“The LEAD 3 programme has been progressing well with every candidate performing above our expectations. Their individual project presentations showcased just how much each candidate has grown personally and professionally in five short months. Each individual has proven that they now possess a clear cross functional perspective of the Bank and its operations, ensuring their effective career development within the Bank and industry for years to come,” said Adil Al Rahbi, Head of the Human Resources Division at OAB.

LEAD is a unique leadership development programme that aims to cultivate the talents of high potential Omanis with guidance from internationally renowned experts. The six-month programme has been designed to utilise best practices in order to empower participants with opportunity, managerial expertise, and high-level workplace solutions.

The ‘LEAD’ programme has been designed in cooperation with Inspirational Development Group (IDG) and is facilitated by a team from IDG, a globally renowned leadership and management performance consultancy. The company has channelled its long history of experience delivering high-quality and intensive work programmes to some of the most prestigious organisations in the world. Closely affiliated with the Royal Military Academy Sandhurst, IDG has worked with some of the most important public and private sector companies in the region from its Middle East office based in Muscat.

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.

OAB Hosts Workshop and Interviews for Prospective IT Recruits

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Muscat, July 28, 2019: Oman Arab Bank (OAB) recently hosted one of the largest recruitment events targeting the IT sector. Of the applicants, 100 shortlisted candidates attended the full-day workshop and structured face-to-face interviews organised by the Bank.

Commenting on the recruitment drive, Adil Al Rahbi, Head of Human Resources at OAB said, “At OAB, we have put innovation at the heart of everything we do, from our transformation into one of the most customer-centric banks, to our investment in technological advancements. We recognise that the greatest proponents for innovation are the youth and that is why we have invested in them, in an effort to inspire future leaders. There is incredible passion emerging from the Sultanate, and we believe that young, talented individuals such as these 100 shortlisted candidates can be nurtured to leadership positions, given the right environment and training.”

The recruitment event took place on July 21 at Fraser Suites Muscat. It was attended by the shortlisted candidates, together with members of the senior management and staff from OAB. The event included a full-day workshop called ‘Design Thinking’, which demonstrates the importance of the user experience when developing a service or product. Over the course of the workshop, structured face-to-face interviews were conducted by the Human Resource and IT Divisions of the Bank with each of the candidates. At the end of the day, candidates were presented with a certificate of completion, which will be a valuable addition to their CVs.

Al Rahbi added, “On behalf of the Bank, I would like to thank every person involved in making this event a success. Most importantly, I would like to express my gratitude to the shortlisted candidates. We were truly impressed with the calibre of attendees. It just goes to show the quality of people we have here in the Sultanate.”

Going forward, these shortlisted candidates will be assessed further based on their interview results and the top candidates will be notified in two weeks and be hired for placements within various teams in the IT Division of the Bank.

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.

OAB Signs MoU with IDO Investments to Foster FinTech Growth and Promote Innovation

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Muscat, July 14, 2019: Oman Arab Bank (OAB) has announced that it has recently signed a Memorandum of Understanding (MoU) with Innovation Development Oman Holding S.A.O.C. (IDO Investments), in order to identify and explore potential opportunities for FinTech innovations to be implemented in Oman. The new strategic partnership will also facilitate the development of an innovation eco-system for entrepreneurship in Oman.

The signing of the MoU took place at the OAB Headquarters on 10 July, 2019, with IDO Investments being represented by its Senior Investment Manager, Talal Hasan, and OAB being represented by Al Salt Al Kharusi, General Manager – Head of the Corporate and Institutional Banking Group and Leen Al Atassi, Head of Innovation. Also in attendance were several executives and members of senior management from both institutions.

Commenting on the signing of the MoU, Al Salt Al Kharusi said, “At OAB we are focused on driving innovation forward by collaborating with private and public sectors as well as leading international institutions to create value to our community, customers, employees and all our key stakeholders. To this end, IDO Investments will play a key role in connecting us with global FinTech communities that are looking to scale their solutions in Oman, and to extend their support to our ecosystem as we introduce our first-of-its-kind innovation lab in Oman.”

Under the MoU, OAB and IDO Investments will forge a key strategic partnership to facilitate the exchange of innovative technologies and solutions and give start-ups in Oman the perfect platform from which to launch and grow their business. OAB will also look to incubate some of these FinTech companies within its Innovation Lab once operational.

IDO Investments, together with any other established FinTech companies that it introduces to Oman, will also contribute to the local FinTech space by collaborating with and mentoring start-ups within the Lab. They will assist with workshops and programmes, sharing their expertise, knowledge and invaluable experience with these budding companies.

“Innovation is the key enabler of progress and we firmly believe that this alliance will further boost efforts to establish Oman as a leading FinTech hub in the region. We also aim to leverage our knowledge and networks to assist start-ups within OAB’s Innovation Lab, helping them achieve their goals and, together with OAB, create a borderless ecosystem for future technologies in the country,” said Talal Hasan.

“This partnership between IDO Investments and OAB marks a significant development for the financial industry in Oman. It stands as a testament to how strategic partnerships between government institutions and private sector companies can help promote innovative thinking and growth within the economy. The collaboration also underscores our continued commitment towards leveraging our innovation strategy to further the development of the financial services sector within the country,” Leen Al Atassi, Head of Innovation 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.

IDO Investments was established by the State General Reserve Fund, Oman Oil Company SAOC, The Research Council and Oman Telecommunications S.A.O.G. and is the Sultanate’s first strategic venture capital firm. They invest in established international and local companies which deliver disruptive and innovative products or solutions to address real-world challenges in Oman and beyond.

OAB Announces Career Opportunities for Talented Omani Graduates

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Muscat, July 07, 2019: As part of its commitment to Omanisation and supporting the ambition of Omani youth, Oman Arab Bank (OAB) is launching one of the largest recruitment drives focused specifically on fresh IT graduates. OAB invites Omani students to apply for a number of roles available within various teams in the IT Division.

Interested candidates should apply via the OAB website before 14 July. Applicants must have graduated in 2018, or about to graduate in 2019, and must have no prior work experience.

The Human Resources Division in coordination with the IT team will set up an assessment centre in Muscat where applicants will have to go through a certain selection process. Applicants who are successful in this first stage will receive a personal invitation to attend a full day workshop with structured face-to-face interviews on 21 July, and should ensure they are available on this day, before applying. At the end of the workshop, attendees will receive a certificate of completion, irrespective of whether they are hired, and will be able to add a valuable experience to their CV.

Commenting on the recruitment drive, Adil Al Rahbi, Head of Human Resources at OAB said, “We have made a strong promise to our customers to provide excellent products and services and in order to keep that promise we must now grow as a team. Supporting Omani talent and career aspiration is part of the genetic makeup of OAB. As an employer we have always given Omanisation the utmost priority and continuously seek to fill our vacancies with Omani talent. Additionally, we want to create a culture at OAB where curiosity is rewarded and ambition is recognised.”

After a shortlisting process, applicants will be invited to attend a full day of workshops and face-to-face interviews in Muscat. The workshop will focus on a process called ‘Design Thinking’, which demonstrates the importance of the user experience when developing a service or product.

Al Rahbi added, “We are looking to hire a group of ambitious Omanis who are eager to make a positive contribution to OAB’s growth journey. By giving shortlisted applicants the opportunity to take part in a workshop we are providing a relevant and tangible experience, which they can leave with.”

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.

OAB Brings Innovation Home after Visit to Leading Innovation Labs in the US and UK

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  • Harvard’s Innovation Lab and Barclay’s Rise Lab are ranked among the best in the world
  • They will serve as inspiration for the upcoming OAB Innovation Lab

Muscat, 25 June 2019: Oman Arab Bank (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.

In order to ensure the implementation of best practices when setting up the lab, members of the OAB senior management team conducted visits to two of the best innovation labs in the world – Barclay’s Rise Lab in London, UK, and the Harvard Innovation Lab in Massachusetts, US. As part of the latter visit to Harvard, the OAB delegates also attended a two-day program called ‘Strategy and Innovation’.

The visit to Barclay’s Rise Lab was conducted by Leen Al Atassi, Head of Innovation at OAB and Stephen David Whitaker, Chief Information Officer, whilst the visit to the Harvard Innovation Lab was conducted by Rashad Al Musafir, the Chief Executive Officer, Asma Al Zadjali, Head of the Banking Operations Group, and Leen Al Atassi, the Head of Innovation.

Commenting on the Innovation Lab, Rashad Al Musafir said, “At OAB we understand that a drive to innovate is key to our success as a service provider. As society and expectations change, it is our role to pre-empt these changes and the demands that follow. Our Innovation Lab will help us drive this process and deliver a superior customer experience, now and in the future.

“The importance of these programmes lies not only in the innovation journey, however. By taking key learnings from these industry-leaders, we hope to create a space where we can also inspire local talent; talent with innovative ideas that will re-define our customers’ experience.”

Earlier this year, OAB held the first edition of its Innovation Hub event, a 24-hr hackathon where over 300 participants including students, OAB employees and local and global FinTech companies, competed to create innovative prototypes in a sandbox environment around current industry themes.

“Creating a high-performing and innovative culture starts with the right people and the right environment. Harvard and Barclay’s labs are two of the world’s leading innovation labs; we endeavour to draw inspiration from these leading business models so that we can create unique value to our customers, employees and the wider community. OAB’s Innovation Lab will include a tailor-made programme that is specifically geared to accelerate innovation through collaboration.” added Leen Al Atassi.

Following the OAB Innovation Hub event, ten students and an Omani Fintech company were selected to join OAB’s innovation programme, which includes a six-month internship and one-to-one mentoring for students. The teams are currently working closely with internal subject-matter experts to develop their solutions and deliver them to the market at the end of the programme.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across the Sultanate. OAB provides a complete range of financial products and services for personal banking, corporate and investment clients.

OAB Announces Special Auto Loan and Insurance Offer for Ramadan

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Muscat, May 19, 2019: Oman Arab Bank (OAB) has announced the launch of its new limited-time Auto Loan and Insurance Offer for the holy month of Ramadan. As part of the offer, customers who purchase a new or used vehicle during the offer period can finance it through the Bank’s Auto Loan facility to benefit from interest rates starting from just 4.99% per annum, together with tenures of up to ten years and quick approvals. Customers purchasing new cars can also take advantage of the Bank’s special insurance offer with rates starting as low as 1.50%.

Commenting on the exclusive Ramadan offer, Rashad Al Shaikh Deputy Head of Retail Banking Group said, “Our Auto Loan product is designed to be simple and convenient. We support our customers with quick approval processes combined with complete flexibility, offering them financing on both new and used cars. In celebration of the holy month, we are further sweetening the deal with lower interest rates. Additionally, we have extended our Ramadan offer with an automotive Insurance product provided in partnership with National Life & General Insurance Company, with rates that are once again amongst the lowest in the market.”

The special discounted rate is available until 13 June 2019 and will finance up to 80% of the vehicle value for a periods of up to ten years. The program also prides itself on offering quick initial approvals and hassle-free loan processing. Furthermore, customers who apply for an auto loan will also be eligible for a free credit card with no annual fee.

“Such offers reiterate our commitment to offering our customers the very finest facilities and products available in the market. Through these offers we extend our support to our customers to help them purchase the car they have always dreamed of owning,” said Rashad Al Shaikh

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices and 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.

New OAB Flagship Branch Opens in Maabila

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Muscat, May 12, 2019: Continuing with its ongoing transformation plan for its branches across the Sultanate, Oman Arab Bank (OAB) has announced the opening of its newly revamped flagship branch in Maabila. The new customer-focused branch is located at Maabila Commercial district and will deliver enhanced banking facilities and the highest levels of convenience to the Bank’s customers in Maabila. The branch opening took place at the beginning of May 2019, under the patronage of H.E. Sheikh Ibrahim bin Yahya Al Rawahi, Wali of Seeb and overseen by Rashad Al Musafir, CEO of OAB, together with 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, “Maabila is amongst the fastest growing residential areas in the capital and where a significant portion of our customer base is located. With this newly transformed branch, we will be able to offer them a modern and relaxing banking environment together with far more personalised levels of service. This is primarily thanks to the new branch’s spacious layout, stunning hues and stylish modern design that is distinctly OAB.”

As with the previously revamped branches, the new Maabila 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 branch 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 with a total seating capacity for 15 customers. These features will provide the bank’s VIP customers with an exclusive, private, and memorable banking experience befitting the Bank’s Elite Banking Customers.

“This event marked the launch of the tenth transformed branch that we have opened so far. Furthermore, as one of our flagship branches, the new Maabila branch combines some of our very latest technological advancements and branch design philosophies; elevating our customer service experience in the area to entirely new heights,” added Al Sheikh.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and representative offices, and 152 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.