Muscat, June 8, 2021: Oman Arab Bank has launched an initiative to help low-income families that have sustained damage to their homes by the recent storm in North Al Batinah Governorate. This initiative is conducted in coordination with the Ministry of Social Development.

Commenting on this initiative, Feras Al Farsi, Sustainability and CSR Specialist at OAB said, “We continuously strive to strengthen our relationship with the community because that is one of the main pillars of our sustainability strategy. We encourage our employees from branches across the Sultanate to follow up with any families in need within the areas they serve and to inform us of any critical cases that require immediate support. We then review these cases and based on the analysis, take necessary action to support those that are affected. In this particular instance, The regional management of the Bank’s branches in the governorate has presented a report to the executive management, which includes suggestions as to how OAB can provide support to families in need. This has been approved and we are coordinating with concerned personnel from the Ministry of Social Development for its implementation, alongside local SMEs, enabling them to benefit from this initiative as well.”

The OAB initiative will be providing support to low-income Omani families in the governorate by taking care of house repairs via reputable local construction companies. The Ministry of Social Development will identify cases that require immediate support. The initiative will also support affected OAB employees residing within the North Al Batinah Governorate, under the direct supervision of the Bank’s regional management.

“We always aim to organize our community initiatives in a way that will enhance sustainability and ensure our support reaches those who need it most, in the most effective way possible. OAB has created an integrated framework under which all the Bank’s sustainability initiatives fall. These initiatives aim to highlight our three sustainability pillars, namely community partnerships, environmental responsibility and financial inclusion. This particular initiative is in line with the Bank’s sustainability objective of enhancing community partnerships and providing support where needed – reinforcing its responsibility as one of the oldest financial institutions in the Sultanate,” he 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 53 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App.

• Making OAB the first local bank this year

Muscat, May 30, 2021: Oman Arab Bank SAOG (OAB) has successfully issued USD 250 million Additional Tier-1 Perpetual Bonds, listed in the International Securities Market (ISM) of the London Stock Exchange. This makes OAB the first local bank this year to do so, ensuring a positive impact on its shareholders and the national economy at large.

Mr Rashad Al Zubair, Chairman of OAB commented, “This recent issuance marks another successful milestone in the history of OAB and our journey of growth. Furthermore, it is in line with the vision of the Central Bank of Oman, focusing on the need for local banks to expand and enhance their position and capabilities to finance developmental projects for the Sultanate, under the overarching strategy of Oman Vision 2040. I would like to extend, on behalf of OAB Board, a warm welcome to the diversified set of international investors who have placed their trust on the growth story of Oman’s economy in general and OAB in particular.”

Highlighting the importance of this milestone, Rashad Al Musafir, CEO of OAB, said, “This is a huge step for us, especially following the successful acquisition of 100% of shares of Alizz Islamic Bank (AIB) and merging our Islamic banking window with AIB. As of mid-2020, Oman Arab Bank was transformed into a public joint-stock company, with its shares listed on the Muscat Securities Market, marking a fundamental achievement in our history that spans across nearly four decades. Today, we are proud to announce another success in the history of OAB’s expansion with the issuance of an International Perpetual Bond of USD 250 Million on the London Stock Exchange, one of the largest securities markets in the world. This will contribute towards our efforts in attracting foreign investments to the local banking sector to meet the Bank’s growth and development plans.”

“We are proud of the positive reaction of OAB’s first international offering that has generated widespread interest from international investors that included several top-notch funds from the London market. The final order book was valued over USD 1.1 billion, which is a testimony to the high level of confidence placed by international investors on Omani economy and local banking sector, as well as the financial performance of OAB,” he added.

This step is considered the first issue of its kind for OAB in foreign currency and is also the first international issuance of public AT1 (Additional tier-1 bonds) in the last 3 years from Oman. Therefore, making it significant in enhancing domestic liquidity with a continuous flow of foreign investments, especially during the current market conditions. The issuance was jointly managed by Emirates NBD Bank PJSC, First Abu Dhabi Bank PJSC, Kamco Investment Company K.S.C.P., Standard Chartered Bank and Ubhar Capital SAOC.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. In June 2020, OAB completed its acquisition of Alizz Islamic Bank and merging it with its Islamic banking window. OAB was transformed into a public joint-stock company, with its shares listed on the Muscat Securities Market for the first time. Today, the bank operates a nationwide network of 53 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services to individuals, companies and investors. As one of the most advanced banks, it provides comprehensive digital solutions through its OAB Online App, through which customers can open new accounts and benefit from other services, directly from their mobile phones.

• Under the slogan ‘Giving Made Easy’

Muscat, April 13, 2021: As part of its goal to foster strong community partnerships Oman Arab Bank has announced the launch of several initiatives on the occasion of the holy month of Ramadan. The campaign highlights the ability for customers to donate to the charities of their choice via the instant donation feature on the OAB Online App as well as through their ATMs. In cooperation with Dar Al Atta’a the bank will alos be placing a donation box in Oman Avenues Mall to make donating easy for shoppers. Together with their charity partners the Bank will also be offering support to families for their Ramadan needs. In addition, the Bank will be launching Fawazeer Ramadan, a competition on its Instagram stories, which includes a daily trivia question for followers, taking place until the end of the month. For each correct answer, the Bank will donate to the charities listed on the OAB Online App.

Commenting on the Ramadan campaign, Hilal Al Siyabi, Head of Corporate Communication at OAB, said, “In light of the current conditions, there is a need to strengthen community partnerships. These initiatives are aligned with the Bank’s strategy to enhance sustainability in all aspects of our business. This is possible by enriching community partnerships through charitable work during the holy month of Ramadan, in addition to the activities directly undertaken by the Bank.”

“Following the launch of the instant donation feature on the OAB App, we have witnessed an increase in the number of customers using this feature. Recently we have been working to increase the number of charitable organisations on the app as well as our ATMs. This way we can enable everyone to contribute to charities in the easiest and most convenient way possible,” he added.

There are 6 charitable associations that can be donated to through the OAB Online App and the ATM network. These include the Association for Children with Disabilities, Environment Society of Oman, Al Noor Association for the Blind, Takaful Fund affiliated to the Ministry of Social Development, Dar Al Atta’a and Oman Charitable Organization.

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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally open an account and benefit from several other services, directly from the convenience of their mobile phones.

• Held in collaboration with the Royal Hospital

Muscat, April 7, 2021: In light of the current rise of COVID-19 pandemic cases and with the aim of generating awareness among staff on the developments of the pandemic and methods of dealing to deal with it, the Human Resources Division at OAB organised a virtual workshop on Tuesday, April 6. Conducted in collaboration with the Royal Hospital, the workshop highlighted the new COVID-19 variants, which has led to the spread of the new wave during the last few weeks. These developments have brought about the need to be prepared to deal with the new strain, while simultaneously continuing to adhere to preventive measures to reduce the spread and risk of infections.

Commenting on the importance of holding the workshop, Adil Al Rahbi, Head of Human Resources Division at OAB, said, “With the upcoming developments taking place, it has now become vital for people to think proactively. Therefore, we decided to conduct this workshop, which is also a part of the Wiqaya programme, launched by the Human Resources Division since the onset of the pandemic, which includes several preventive measures that have been taken to reduce the risk internally within the Bank.”

“The workshop sheds light on the precautionary measures that must be followed at the Bank to prevent the spread of infection. It also provided an overview of the available vaccines, the types and differences as well as its relevant benefits in providing immunity from the infection in the future,” he added.

The workshop was organised through the virtual platform, Zoom, keeping in mind the recent directives of the Supreme Committee. The Bank invited Dr. Badria Rashid Said Al Waili, Pediatric Infectious Disease Consultant at the Royal Hospital, to enlighten the employees about the recent updates of the pandemic and discuss other related topics. The workshop was attended by hundreds of employees from the different departments at the Bank, as well as from its 54 branches across the Sultanate.

“I would like to extend my utmost thanks to the employees of the Royal Hospital for their cooperation in the organisation of this workshop for the Bank’s staff, to help generate awareness of the current developments, as per the latest official information. I would like also to thank them for taking the time to answer all the questions and enquiries that our employees had, which is a reflection of their eagerness in providing every means of support that is focused on combating the pandemic at various levels,” he concluded.

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 54 branches and representative offices and 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

Muscat, March 30, 2021: Oman Arab Bank announced the results of the first draw of its Hasaad Savings Scheme for 2021. 101 customers won prizes of OMR 500 each, alongside 5 winners of OMR 1,000 each from the salary transfer segment. As for Elite account holders, two customers won OMR 10,000 each from the Barka and Al Qurum branches.

Commenting on the launch of the new scheme, Rashad Al Shaikh, Head of the Retail Banking Division at OAB, said, “We are delighted to see a huge number of our customers continue to save, especially given the prevalent conditions. This way, they can ensure that they have a form of finance to rely on, for themselves and their families. As always, we strive to reward them for their efforts towards saving with an array of exciting benefits every month and giving them a greater chance of winning by having them save more.

The Hasaad Savings Scheme 2021 will see 101 lucky winners each month from the 54 branches winning OMR 500 each, as well as 5 winners of OMR 1,000 each, from those who transfer their salaries to Oman Arab Bank. This is in addition to a Big Prize draw which will see two winners of OMR 10,000 each, every quarter.

The Elite Draws will see two winners every month of OMR 10,000 each. This is replaced by an Elite grand prize draw conducted every three months with one lucky winner of OMR 25,000.

“I congratulate all the winners of the February Hasaad Savings Draw and wish the rest of our valued customers the best of luck for the rest of the upcoming draws, which will take place over 2021. I would like to encourage them to continue saving so that we can enable them to build a savings culture for their own benefit and a better future.”

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 54 branches and representative offices with 160 ATMs spread across Oman. OAB provides a complete range of financial products and services through its OAB Online App. Customers can now digitally open an account and benefit from several other services, directly from the convenience of their mobile phones.