OAB SIGNS MOC WITH THE MINISTRY OF LABOR TO ENHANCE HUMAN RESOURCES DEVELOPMENT

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Muscat, May 26 2024 –  Oman Arab Bank (OAB) signed a memorandum of cooperation (MoC) with the Ministry of Labor to develop human skills, support Omani cadres, expand work opportunities and exchange experiences, to implement the priorities of Oman’s future vision towards empowering youth and building national competencies. The MoC comes within OAB’s plans to invest in human resources and continue its initiatives in supporting national talents and skills.

H.E. Sayyid Salem bin Muslim Al Busaidi, Undersecretary at the Ministry of Labor for Human Resources Development, and Mr. Sulaiman Al Harthi, Chief Executive Officer of OAB, signed the MoC.

According to the MoC, OAB will provide opportunities to train employees, provide them with modern work skills, and enhance their academic knowledge with practical experiences that develop their capabilities in the labor market. The MoC also includes the exchange of knowledge and experiences between OAB and the Ministry of Labor, to achieve the maximum benefit from the elite regional or international experts and speakers hosted by both the Ministry and the Bank. The Bank will organize workshop sessions and scientific forums on modern solutions and relevant innovative projects in this context.

H.E. Sayyid Salem Al Busaidi said: “The agreement with OAB comes within the framework of activating the partnership between the public and private sectors to support job nationalization efforts and empower Omanis in the labor market by providing job opportunities, training, and qualifying the national workforce through enhancing their competitiveness and skills and facilitates their entry in the labor market at various job levels and all economic sectors.”

H.E.  praised the efforts of OAB and its initiatives in providing job opportunities, training, and empowering Omani cadres.

Mr. Al Harthi said: “OAB believes that investing in human resources is vital for improving performance and services and for its growth strategies now and in the future. The bank has always been a role model in caring for its human resources and developing them professionally. It has also presented many initiatives that contributed to developing leadership and training national cadres in the financial sector, such as the “Ruwad Al Arabi” initiative, which has contributed to developing leadership talents and supporting the achievement of the Oman 2040 vision “.

Al Harthi added: “Through this cooperation with the Ministry of Labor, OAB continues its contributions and initiatives to support employment efforts, develop national competencies, and hone talents in the financial and banking sector.

Through this partnership, we aim to benefit from the various training opportunities provided by the bank and the conferences and lectures it organizes and experts hosted by the Bank and the Ministry of Labor. We also aspire to harness the initiatives and programs adopted by the Bank, including the “Ruwad Al Arabi” initiative, to develop employees’ skills and enable them to advance in their careers continuously.”

As part of the cooperation between OAB and the Ministry of Labor, many initiatives will be implemented by OAB, which support skills development and honing local talent to raise their competitiveness and supply the labor market with its requirements for skilled workers.