OMAN ARAB BANK CELEBRATES WITH ITS FEMALE WORKFORCE

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Muscat, October 17th 2016 – Oman Arab Bank held its annual Omani Women’s Day celebration at its Ghubra Head Office this week in recognition and appreciation of the extraordinary contribution made by its outstanding female employees to all aspects of its activities and operations. Attended by female employees and other staff members management, the celebratory event welcomed OAB CEO Amin Al Husseini and Deputy CEO Rashad Al Musafir as guests of honor.

Expressing his pride in the women of the OAB Team and thanking them for their exceptional efficiency and achievement, CEO Amin Al Husseini said: “At OAB we believe that our motivated and enthusiastic female talent are at the heart of our continued success and growth, helping us build a heritage of trust over three decades.”

“Following the wise guidance of His Majesty Sultan Qaboos, OAB plays a proactive role in creating an environment in which our female employees can flourish and achieve their professional goals and ambitions. We foster their talents across all functions, departments, and branches and ensure that they have access to training programs to enhance their skillsets and develop future leaders,” he added.

OAB Deputy Chief Executive Officer, Rashad AlMusafir commented: “It is a great pleasure once again to gather with colleagues and celebrate Omani Women’s Day. In doing so, we acknowledge and honor the important contribution women are making to the legacy of OAB, to the banking sector in general, and to the development and diversification of Oman’s economy, helping create a prosperous future for generations to come.”

An equal opportunities employer with the strategy of becoming Oman’s ‘employer of choice’, the percentage of the females working in Oman Arab Bank is close to 40% of its entire taskforce. The Bank is committed to creating a positive professional environment based on a culture of teamwork, supporting and rewarding employees as they achieve excellence in their positions and progress in their careers in the 65 OAB branches across the Sultanate.

11 MORE LUCKY SAVERS WIN BIG WITH OMAN ARAB BANK’S HASSAD SAVINGS SCHEME SEPTEMBER DRAW

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Muscat, October 23rd 2016 – Spearheaded by its dedication to help customers achieve financial prosperity, Oman Arab Bank (OAB) announced the 11 lucky winners of its Hassad Savings Scheme Draw for the month of September. M.S.H. Al Hajri from the Al Sharqiyah North Governorate walked away with OMR 40,000 as the latest winner of the monthly Regional Prize, while five lucky female account holders and five young savers each received OMR 1,500 and OMR 1,000 respectively.

Congratulating all of Hassad Savings Scheme winners, Hanaa Al Hinai, Assistant General Manager, Head of Wealth Management, Banassurance and Liabilities, said, “Hassad was expressly designed to help foster a culture of saving and reward our customers with a unique opportunity to win big and fulfill their dreams. The response we have received from customers has been immense and we look forward to rewarding even more through this initiative.”

All OAB customers with a minimum balance of OMR 100 at the end of the month are automatically entered into the draw. Entering the final stretch of the year, the 2016 Hassad Savings Scheme still has plenty to offer savers, with more than OMR 300,000 in cash up for grabs including its super draw at the end of the year, which will offer two customers the opportunity to win OMR 100,000. Additionally, the Bank is organizing an exclusive Elite Draw for OMR 100,000 in December alongside other special draws in celebration of the upcoming Omani Women’s Day and the 46th National Day.

OMAN ARAB BANK PARTNERS WITH TANFEEDH

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Muscat, 31st October 2016 – Underlining its dedication to the continued progress and prosperity of the Sultanate, Oman Arab Bank was the proud partner of the ceremony held to mark the conclusion of the second phase of the National Programme for Enhancing Economic Diversification, Tanfeedh

A core element of Oman’s Ninth Five-Year Development Plan, Tanfeedh is of significant national importance. At this point of the plan, the discussion and consultation stage, domestic and international public and private sector experts were brought together in a six-week long series of intensive discussions to contribute to the country’s strategy of economic diversification and growth.

“It is a privilege to partner with Tanfeedh, a propitious and productive initiative, and an important milestone as the Sultanate moves forward with its strategy of broadening and diversifying the economy,” remarked OAB CEO Amin Al Husseini.

He added: “Committed to supporting Oman’s national development, OAB is working steadfastly with partners in the government and private business community to promote Oman as an attractive and viable investment haven. Furthermore, as the Sultanate’s leader in SME finance, we help entrepreneurs and small businesses across the country achieve their ambitions and fulfill their role as engines of job creation.”

Over the last three decades, OAB has contributed to the Sultanate’s economic strength through the financing of major infrastructure, construction and development projects in areas including hydrocarbons, transport, logistics, energy, and health. The Bank actively engages with the international community to promote Oman as a trade and investment partner and offers a range of proven trade finance solutions. Addressing the needs of Oman’s all-important SMEs and start-ups, it has created a range of innovative financial products headed by the new TOMOUHY portfolio of services which includes working capital finance, term loans for capital expenditure, contracts and equipment finance, import and export finance.

Today, OAB operates more than 65 branches and offices, and more than 135 ATMs in high footfall locations across the Sultanate that are supported by Arab Bank’s 600 branches spanning five continents. As of December 31st 2015, the Bank’s total assets stood at RO 1.98 Billion (USD 5.15 Billion) and net worth of RO 226 Million (USD 587 Million).

OMAN ARAB BANK UNVEILS NEXT GENERATION ATM BANKING EXPERIENCE

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Muscat, November 2nd 2016 – Continuing to lead the Sultanate in the use of banking technology and presenting a new level of convenience for its customers, Oman Arab Bank (OAB) has introduced APTRA™ Activate, the world’s most advanced self-service software, to its nationwide network of ATMs. The first bank in Oman and the third GCC bank to use this cutting-edge solution, OAB Bank takes pride in meeting the needs of its customers in the best and most innovative ways possible.

With attractive easy to use touch screen animation, a variety of hi-speed and highly secure OAB ATM services are now possible thanks to APTRA™ Activate. These include making local and international transfers as well as credit card payments; paying utility, mobile and internet bills; requesting instant e-statements and balances on accounts, loans and credit cards; and updating mobile contact numbers.

“One of the Sultanate’s most popular methods of day-to-day banking, OAB ATMs serves customers 24 hours a day, seven days a week and as such are a pivotal part of how our customers manage their personal financial transactions. Equipped with this state-of-the-art programme, our ATMs now not only accommodate the broadest possible range of services but also reflect the exemplary standards the bank endeavors to deliver in its comprehensive branch network spread across the country,” noted Fahd Amjad, GM of Retail Banking.

Jamil Abdulqader Al Zadjali, OAB AGM – Head of Digital Banking added, “With a focus at all times on providing the most convenient, safe, and reliable services, OAB has always fully embraced the use of technology. As a result, we offer straightforward and consistent interactions across online, mobile, ATMs, and branches in a seamless multi-channel approach, responsive to our customers’ changing needs, expectations, and preferences. And by implementing this game changing software we are proud to have placed our valued customers once again at the forefront of banking innovation.”

A pioneer of technology in Oman’s burgeoning banking sector, OAB has harnessed its rich possibilities to implement financial solutions that complement today’s modern lifestyle, and create the best possible experience for customers as they connect, interact and transact.

OMAN ARAB BANK’S CEO INSPIRES HIGH-POTENTIAL EMPLOYEES TO SUCCEED DURING LEAD PROGRAM

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Muscat, 2nd November 2016 – 20 participants undergoing the second module of Oman Arab Bank’s (OAB) ‘Leadership Enhancement and Development’ (LEAD) program welcomed a visit from Amin Al Husseini, CEO of OAB. The second part of the unique six-month multi-modular training initiative, which was launched to cultivate the skillsets of the bank’s high-potential Omani employees, aims to enhance the situational leadership, decision-making, and motivational skills of its participants to prepare them for future management roles at OAB.

Since its launch, the program has delivered multiple capacity-building trainings, giving young and talented Omanis working with OAB the chance to enrich their leadership and management skills and position themselves as catalysts in the market. The first part of the program focused on building self-awareness and challenged participants to develop different leadership styles, roles, self-management, and practical coaching techniques.

Al Husseini, who spoke with the trainees during his visit said, “LEAD was inspired by our goal to nurture our Omani workforce and provide them with a fantastic opportunity to grow within the Bank. This is a strategic investment that represents the epitome of our talent acquisition and development strategy to accelerate the professional growth of our future leaders. By granting our team members the tools, instructors and training they require to reach their full potential, we are securing our talent pool and ensuring that they can manage whatever opportunities and challenges come their way.”

LEAD was designed and is being facilitated by Inspirational Development Group (IDG), a global leadership and management performance consultancy. The program consists of four modules organized over a six-month period, with each module covering important skills related to leadership ability. Future modules will include a workshop dedicated to socialization, performance management skills training, advice from senior leaders, and personal development strategic mapping among other topics and themes. The highest performing delegates will then be taken to the Royal Military Academy Sandhurst as the culmination of the IDG program.

16 LUCKY CUSTOMERS WIN BIG WITH OMAN ARAB BANK’S HASSAD SAVINGS SCHEME

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Muscat, 16 November 2016 – As part of its continued efforts to reward customers for saving, Oman Arab Bank (OAB) distributed OMR 60,000 to the 16 lucky winners of its Monthly and Omani Women’s Day Hassad Savings Scheme Draws. Launched in January 2016 to encourage a culture of saving, the Bank has since rewarded 121 people with more than OMR 600,000 in cash prizes.

For October’s Monthly Draw, K.M.A. Al Mashani from the Governorate of Dhofar scooped the OMR 40,000 Regional prize. Five female account holders and five young savers also received OMR 1,500 and OMR 1,000 respectively.

Hanaa Al Hinai, Assistant General Manager, Head of Wealth Management, Bancassurance and Liabilities at OAB, said, “Hassad was developed based on the desire to reward our customers and provide them with an incentive to save so that they can enjoy more financially secure lifestyles. As a result, more than 100 people across the Sultanate have had their dreams fulfilled. The feedback we have received from customers has been exceptional and we look forward to rewarding many other lucky winners in the near future.”

“Every year, as a token of our appreciation, OAB holds draws to commemorate occasions such as Omani Women’s Day. This year, in celebration of the growing role of women in the Sultanate, Rahma Marzouq, Ahlam Zayid, Khazina Ali, Haouria Bilal, and Walaa Khair were awarded OMR 1,500 each through our lucky draw.”

With Hassad’s Savings Scheme, all OAB customers with a minimum balance of OMR 100 at the end of the month are automatically entered into the draw. With the year coming to a close, OAB has lined up a number of exciting opportunities for customers to win big, with more than OMR 300,000 in cash prizes still up for grabs. Alongside two more monthly draws, the Bank will celebrate the 46th National Day with a special draw, in addition to its second Elite Draw in December, and a super draw at the end of the year where two customers will be chosen to win OMR 100,000.

OMAN ARAB BANK CELEBRATES 46 YEARS OF NATIONAL PROGRESS AND PROSPERITY

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Muscat, 19th November 2016: Joining the nation in celebrating Oman’s 46th National Day, Oman Arab Bank held a special event at its Ghubrah Head Office to honor His Majesty Sultan Qaboos bin Said for his remarkable vision for the country. The event was steered by the Deputy CEO of Oman Arab Bank, Rashad Al Musafir and was attended by members of the senior management and staff members.

Speaking at the event, Rashad Al Musafir said, “We at OAB congratulate His Majesty and the people of Oman on this momentous milestone. The exemplary leadership showcased by His Majesty has always reflected in Oman’s strong economic position, both regionally and globally. A leader well known for his love and commitment towards the well-being of his people, His Majesty has always encouraged growth and development amongst national talent and worked towards strengthening Oman’s core sectors.”

He added, “Oman boasts a strong and expanding banking and finance sector and with a robust legacy of trust built over three decades, OAB is proud to contribute to the national development and progress of the country. Keeping in line with His Majesty’s dedication to the people of Oman, we are always encouraging and fostering national talent by providing our employees with all the tools and skills they need to become leaders in the field of banking and finance.”

Brightly decorated in the national colors of red, green and white, the office festivities included students performing poetry about their love for the Nation and its achievements.

Established in 1984 following the acquisition of Arab Bank’s branches in the Sultanate, OAB today operates more than 65 branches and offices, and over 135 ATMs in high footfall locations across the Sultanate that are supported by Arab Bank’s 600 branches spanning five continents. 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.

OMAN ARAB BANK HOSTS FIRST-OF-ITS-KIND TOWN HALL MEETING TO REVIEW PROGRESS AND FUTURE DEVELOPMENTS

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Muscat, 3rd 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.

OAB SUPPORTS NATIONAL PROGRESS AT TANFEEDH OPEN DAY

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Muscat, 7th December 2016: Continuing its support for Tanfeedh, the National Programme for Enhancing Economic Diversification, Oman Arab Bank participated in the Programme’s Open Day. During this key stage of the national initiative, the culmination of recommendations generated for boosting economic growth were shared with the public.

“We are proud to have been given the opportunity partner with Tanfeedh and support its mandate to facilitate international trade and investment, and shed light on the role we look to play in expediting infrastructure and construction projects,” remarked OAB CEO Amin Al Husseini. “Understanding the extraordinary significance of enterprise to the Sultanate’s future economic success, OAB, through its diverse portfolio of commercial financial solutions, is well positioned to support and contribute to the growth of business in Oman.”

The CEO went on to explain that as OAB looks ahead to playing its part in Oman’s future development, it is building on a strong heritage of trust. Indeed, for over thirty years, OAB has worked diligently to help secure Oman’s robust economic foundations. Contributing to national development and social progress, the Bank has financed major ventures in areas including hydrocarbons, transport, logistics, energy, and health. In addition, OAB has developed financial solutions to support both fledgling and established businesses, as they not only work towards their goals and achieve their ambitions but also generate employment and yield substantial benefit for the country.

Ubhar Capital (“U-Capital”) acquires Investment Management Group in Oman Arab Bank

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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.