Muscat, 3^rd December 2016: Oman Arab Bank held its first town hall meeting open to all staff members at the Shangri-La Barr Al Jissah Resort and Spa. Lead by Amin Al Husseini, CEO of OAB, the meeting highlighted the Bank’s achievements throughout the year and shed light on its development plans for 2017.

At the event, Amin Al Husseini welcomed the attendees by congratulating them on another successful year and thanked them for their contribution to the Bank’s growth. He then touched upon the various milestones achieved by the Bank during the year and discussed the Bank’s direction going forward for the next year and business strategies to ensure consistent progress.

Speaking further on the development of the Bank, Amin Al Husseini said, “Oman Arab Bank has grown leaps and bounds in the past few years and the growth in our revenue and portfolio of services is only an indication of the level of progress that is yet to come. Our history of success established over the last three decades has been possible due to the strong support of our loyal customers and the skills and expertise of our employees and moving forward, it is important for us to continue investing in our strengths and work towards our aim of becoming the leading Bank in the Sultanate.”

Also present at the event, Deputy CEO of OAB Rashad bin Ali Al-Musafir remarked, “Our strategy for the next year entails advancing our customer service to the next level and expanding our present portfolio of banking services and solutions. We are also looking to introduce several more trainings to augment the expertise of our national workforce which will further strengthen the operations of the Bank and increase our contribution towards the economy of the Sultanate.”

The event also highlighted the various services OAB introduced to its customers this year as well as some new products scheduled to be launched soon. The employees were shown a demonstrative on the latest technologies being implemented that will empower customers with easier and more efficient banking solutions.

Muscat, 20th December 2016: In March 2016, Oman Investment Fund (OIF), Oman International Development and Investment Company (OMINVEST) and Arab Bank (Switzerland) (ABS) entered into a Memorandum of Understanding (MOU) to acquire Oman Arab Bank’s (OAB) Investment Management Group business. Over the past two decades, Investment Management Group has been a leading name in the investment sector. In Oman, Investment Management Group is one of the largest asset managers and a leading stock broker. It has executed some of the most notable corporate finance deals including initial public offerings (IPO’s), debt placements and other advisory mandates.

OIF, OMINVEST and ABS recently established Ubhar Capital SAOC (U-Capital), which is envisioned to become Oman’s leading independent investment banking platform. We are pleased to announce that on (insert date), U-Capital agreed to acquire Investment Management Group. The acquisition will encompass the entire existing Investment Management Group platform,including systems, human resources, licenses, assets and liabilities. We are also pleased to announce that U-Capital has been granted Regulatory Approvals to acquire Investment Management Group from OAB. The new Shareholders will provide significant strategic support to U-Capital to further develop and build its underlying lines of business, which encompass: investment banking, asset management, brokerage and custody services. U-Capital will commence business operations in January 2017.

Sheikh Hassan Al Nabhani, Chief Executive Officer of Oman Investment Fund, stated that acquisition of Investment Management Group is a major step towards realising their vision of creating a premier asset management company out of Oman – with global reach and capabilities. He expects U-Capital to cater to the investment needs of major institutional investors, while operating as a platform for attracting foreign investments into Oman. Sheikh Hassan elaborated that OIF is highly supportive of such platform acquisitions to create larger and more efficient businesses, creating economies of scale and realising synergies amongst our major portfolio companies. He added that U-Capital will focus on developing local human capital and create a pool of professional investment banking professionals.

Wahbe Tamari, Chairman of Arab Bank (Switzerland), said that ABS is pleased to enter into this transaction with OIF and OMINVEST. He added that ABS will provide support to U-Capital in building a world class institution catering to a broad base of regional and international customers. Tamari said he is excited about the prospects of working in Oman and contributing to the economic development of Oman.

Rashad Al Zubair, Chairman of Oman Arab Bank, said they are pleased that Investment Management Group has been a leading player in the investment banking sector in Oman and has been instrumental in Oman’s economic development over the past two decades. He stated that they are excited that U-Capital has long term sustainable growth plans for the company. OAB will now focus on its core strengths of building world class leading bank in Oman. Mr. Al Zubair made a special mention to the conducive investments and regulatory operating environment in Oman.

Abdulaziz Al Balushi, Group CEO of OMINVEST said they are proud to be a shareholder in U-Capital and very pleased to acquire Investment Management Group, a well-managed business with a strong track record. He added that Investment Management Group’s business will flourish under U-Capital and the Shareholders will lend all the support to make it a remarkable success by offering much better products and services to the clients.

Amin Al Husseini, OAB’s Chief Executive Officer said that the sale of Investment Management Group has been a concerted effort by the entire OAB management team and part of the overall strategy of the bank to augment its position in the Bank’s other business verticals. Al Husseini further added that the sale will significantly strengthen the Bank’s financial position and the proceeds will be utilized to finance core strategic initiatives. Al Husseini further thanked both the Central Bank of Oman and Capital Market Authority for creating a conducive investment environment and for their continued support.
Lo’ai Bataineh, who will be heading U-Capital and who has headed Investment Management Group since its inception, is confident of the bright future of U-Capital with its expanded scope.

Mr. Bataineh added that he and his team have been in touch with their clients throughout the transition. All clients can be rest assured that there will be no impact on their services and mandates and that their transition from Investment Management Group to U-capital will be smooth and seamless. He stated that the envisioned business expansion, new resources and capabilities are expected to make U-Capital one of the largest and best-equipped investment banking companies in Oman. Therefore, the customers of Investment Management Group and new clients will greatly benefit from a wider array of products and enhanced services offered by U-Capital.

Muscat, December 26^th, 2016: In recognition of their dedicated years of service, Oman Arab Bank (OAB) honored 51 long-term and retired employees with a special ceremony at the Hormuz Grand Hotel in Muscat. Led by the CEO of OAB, Amin Al Husseini, the Bank paid tribute to the commitment of the honorees and praised their years of success by presenting them with certificates and commemorative gifts.

Speaking at the ceremony, Amin Al Husseini said, “It is the hard work and commitment of our long standing employees that has contributed to preserving and advancing OAB’s legacy of trust and success. We believe that high-performing organizations are built by ambitious employees and I would like to take this opportunity to thank those employees for their commitment to making OAB one of the leading banks in the Sultanate.”

One of the honorees at the ceremony, Ali Al Lawati; Head of IT Administration commented, “

OAB has always invested in the professional and personal development of its workforce and has, as a result, progressed leaps and bounds since its establishment. I have grown from strength to strength in my career and commend OAB for fostering a positive work environment which will only bring them more success over the coming years.”

Regarded as one of Oman’s employers of choice, OAB has a longstanding tradition of acknowledging and celebrating the dedication of its staff. The Bank’s commitment to its workforce has helped spearhead its incredible growth over the years, which has seen OAB rise to operate more than 65 branches and offices in addition to over 135 ATMs in high footfall locations across the Sultanate.

Muscat, 3^rd January 2017: Oman Arab Bank (OAB) has joined hands with Visa, the global payments technology company, in a strategic partnership agreement that will convert the Bank’s current electron cards to secure chip-and-PIN debit cards. Under the agreement, OAB customers will be able to utilize their cards equipped with the EMV chip-and-pin technology to ensure all payments are made conveniently and securely at millions of merchants around the world.

Speaking on the occasion Mr. Fahd Amjad, GM Retail Banking said, “As a leading bank in Oman, our focus has consistently been to enhance customer experience by providing a wide range of innovative solutions and services. Our long-standing relationship with Visa goes back a decade. Our collaboration this time will result in the first contactless Visa debit card in Oman, secured by EMV chip and PIN technology of global standards. We are proud that once again through innovation we will create value for our customers. The new EMV enabled cards will be perfectly compatible with our newly introduced ATM software, making our digital offering stronger than ever before.”

Commenting on the partnership, Ahmed Gaber, Visa General Manager for Oman, Kingdom of Saudi Arabia, Kuwait, and Bahrain said, “With the use of electronic payments accelerating in Oman, it is essential that consumers have the tools to shop safely and securely with their cards. EMV Chip and PIN cards help to protect both the consumer and the merchant by adding an extra layer of security to a transaction while keeping the payment process quick and simple. Visa is delighted to work with OAB to roll-out the technology and to help bring additional peace of mind to its customers.”

Building on a successful legacy established since 1984, OAB today operates more than 65 branches and offices and over 135 ATMs in high footfall locations across the Sultanate. With its growing portfolio of services and banking solutions, OAB has strongly engaged with the local, regional and international community to promote the Sultanate as an economic trade and investment powerhouse.

Muscat, February 16, 2017:  Amin Al Huessaini Oman Arab Bank, participated in a panel discussion on the ‘New Challenges Facing GCC Banks: Views from the C-Suite’ at the IIF MENA  2017 Financial Summit held this week.

Organized by the Institute of International Finance (IIF) and held at the Ritz Carlton – Dubai International Financial Centre Hotel, the 2017 IIF MENA Financial Summit took place between February 13-14. This financial world event was attended by more than  250 financial  leaders and policymakers from across the MENA Region, including global market participants.

The Summit featured expert panels and keynote speakers addressing topics of central importance to the financial industry, while discussing challenges and opportunities for this important and dynamic region of the world. These were conducted in a series of nine sessions and four keynote addresses, with topics ranging from ‘the outlook for the global economy’ and ‘developments in the global oil market’ to ‘current initiatives in the region promoting technology and innovation in the financial industry’. Amin Al-Husseini participated as a panelist in  a session on the new challenges facing GCC banks, held on the first day of the summit. The session illustrated how financial institutions overcame the  challenges faced in light of the sharp fall in oil prices, tightening liquidity  and rising interest rate.

Commenting on his participation in the Summit, Amin Al-Husseini noted, “I am privileged and humbled to sit on a panel representing the Omani Banking Sector. The IIF MENA Financial Summit provides a valuable opportunity for financial business leaders and experts from the MENA region to touch upon the various headwinds being faced by the Banking and Financial sector; facilitating the exchange of strategies and experience, together with possible solutions.

As part of his participation, Amin Al-Husseini, together with the remainder of the five-member panel, provided attendees with an outlook on the overall environment for Banks in the GCC in the next 12 to 24 months; including the key challenges they will face with regards to liquidity, regulatory developments , and the implementation of the new accounting methodology IFRS-9. The discussion panel also touched on other key areas of interest including Industry Consolidation, Compliance, Cyber Security, Digital Disruption, and Debt Capital Markets.

“Our participation in an event of such importance to the region also provided us with an invaluable opportunity to network with key financial leaders and experts from across the MENA Region; sharing ideas and solutions that address specific client needs. In doing so we can mold our own products and services to better serve the needs and requirements of our customers,” concluded al Huessaini.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history dating back over three decades. Consistently expanding its reach, the Bank today operates a nationwide network of 65 branches and offices and over 135 ATMs spread across the Sultanate. It provides the complete range of financial products and services for personal banking, corporate, and investment clients.