logo
OAB Celebrates Its Achievements and Strengthens Competitiveness by Offering the Best Services - Middle East Business News and Information

OAB Celebrates Its Achievements and Strengthens Competitiveness by Offering the Best Services - Middle East Business News and Information

Mid East Info13-03-2025

Sulaiman Al Harthi: The Efficiency of Our Team is the Cornerstone of Success and Enhancing Customer Experiences
Muscat, 12 March 2025: Oman Arab Bank (OAB) held its annual meeting, a yearly tradition celebrating the successes achieved through the innovative contributions of its team and employees. The event also served as a platform to prepare for a new year filled with achievements and to sustain the exceptional performance the bank has attained through continuous advancements in digital products, solutions, and customer service. The celebration featured a variety of activities, including visual presentations highlighting the bank's 2024 achievements, the 'Takaful' Employee Support Fund, and the 'Idikhar' program, which ensures employees' financial well-being. The event also included an inspirational session, entertainment segments, competitions, and prize draws that brought joy to the attendees. During the event, winners of the annual Excellence Employee Performance Awards and Long-Service Awards were honored. Recognizing creativity and passion as key drivers of success within senior management—and as an incentive to overcome challenges—Mr. Rashad Al Zubair, Chairman of OAB, announced the launch of the Chairman's Excellence Award. The award features six main categories: Customer Experience Excellence, Innovation Excellence for Creative Minds, Efficiency Excellence, Risk Management Excellence, Goal Achievement Excellence, and Growth Mindset Excellence. In his speech during the event, Sulaiman Al Harthi, CEO of OAB, stated: *'Through our hard work and commitment to our vision at OAB, we continue to overcome challenges and strengthen our leadership in the Omani banking sector. We firmly believe that the efficiency of our employees, our teamwork, and our shared dedication are the foundations for achieving greater success, enhancing performance, and delivering enriching experiences to our customers. Today, we celebrate one of our most significant achievements, our fruitful collaboration in realizing strategic goals and driving long-term growth. We are making steady progress toward a promising future by investing in our human capital, developing their professional and personal capabilities, and fostering a culture of achievement. In 2024, we accelerated this progress by expanding training resources to develop the skills and competencies of our employees. Our 'Ruwad Al Arabi' leadership development program continues to gain both local and international recognition as one of the most successful human capital investment initiatives. The program targets 330 employees from the bank and its strategic partners. Additionally, in 2024, we organized 374 training programs attended by over 10,000 employees, delivering nearly 25,000 training hours. OAB also remains committed to enhancing workplace appeal and providing the best possible services to its employees.' Al Harthi added: 'Our annual gathering is an opportunity to celebrate our achievements and strengthen the partnership among team members across various departments and levels. It serves as a platform to exchange creative ideas that will drive the bank's success in the next phase. Our ability to innovate competitive products, excel in operational processes and services, advance digital transformation, expand digital channels, enhance brand impact, and effectively manage and develop talent will be key to our continued growth.'
OAB is moving toward the future, strengthened by several key factors that reinforce its leadership in driving the evolution of the banking sector in Oman. These include its long-standing banking legacy, extensive accumulated expertise, exceptional ability to innovate and enhance the added value of its services, as well as its active contribution to national economic growth and a global presence spanning 28 countries.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oman Arab Bank Leads the Economic Empowerment Landscape in the Sultanate of Oman and is Crowned with the 'Outstanding Commitment to SME Growth and Empowerment' Award
Oman Arab Bank Leads the Economic Empowerment Landscape in the Sultanate of Oman and is Crowned with the 'Outstanding Commitment to SME Growth and Empowerment' Award

Mid East Info

time02-06-2025

  • Mid East Info

Oman Arab Bank Leads the Economic Empowerment Landscape in the Sultanate of Oman and is Crowned with the 'Outstanding Commitment to SME Growth and Empowerment' Award

Muscat. 2 June 2025. In a remarkable achievement that set the standard for banking expertise in the Sultanate of Oman, Oman Arab Bank's added to its growing record of success, proudly announcing it being the receipt of the 'Outstanding Commitment to SME Growth and Empowerment' award — a well-deserved recognition of a deeply rooted strategic vision and clear affirmation of the bank's pivotal role in leading the economic empowerment of entrepreneurs across the Sultanate. This award is not merely a celebratory milestone, but the natural result of an integrated journey of tireless effort, carefully structured plans, and a real investment in Oman's economic future. It reflects years of consistent dedication, culminating in the development of the bank's comprehensive Tumouhi ecosystem — the most inclusive banking platform designed to support SMEs on every level: financial, technical, digital, and advisory. Oman Arab Bank has transformed from a financial service provider into an active growth partner in the success stories of thousands of local companies by offering flexible, customizable financial solutions, including term loans, working capital financing, and a full range of trade facilities tailored to different stages of business development; however, the bank's role has never been limited to financing — it has built a fully integrated digital infrastructure aligned with global standards, including smart payment solutions such as Soft POS, payment links, full digital banking platforms, and dedicated corporate branches and regional cash centers. Even more, the bank has redefined SME support through structured training and empowerment programs like Ruwad Al Arabi , Women's Leadership Development , and Financial Literacy , as well as through strategic partnerships with national institutions like the SME Development Authority (Riyada) to organize entrepreneurial competitions and target ed empowerment campaigns across Oman's governorates. Recognizing that many freelance and informal businesses are often overlooked by traditional banking, Oman Arab Bank designed dedicated solutions that accommodate the unique needs of this segment — from street vendors and market traders to taxi drivers and independent service providers — thus driving tangible financial inclusion at the grassroots level. This ground-level presence has helped the bank expand its developmental footprint and reach underserved populations in a practical and meaningful way. Commenting on this achievement, Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, stated: 'This award is a confirmation of what we have committed to from day one — to be a creator of opportunity, not just a responder; a builder of business ecosystems, not just a lender. We believe SMEs are not a complementary sector, but the economic center of gravity and the axis of national transformation toward sustainable growth.' He added, 'We don't just offer banking products — we provide a fully integrated environment of support, guidance, expertise, and networks to help every entrepreneur turn ideas into impact.' With this recognition, Oman Arab Bank once again proves that it is more than a bank — it is a vital developmental force helping reshape Oman's economic landscape and placing SMEs at the heart of the national equation. This aligns directly with Oman Vision 2040's priorities of economic diversification, productivity, youth empowerment, and building a knowledge- and innovation-driven economy. The Bank stands firmly present across every step of the SME journey — from funding to advisory, training to partnership, and digital solutions to on-the-ground support — forging ahead with an unwavering commitment to solidify its position as the number one partner for entrepreneurship in Oman, driven by a national vision, relentless ambition, and limitless potential.

Oman Arab Bank Wins Top Cybersecurity Honor Cybersecurity & Risk Excellence at MEA Finance Awards - Middle East Business News and Information
Oman Arab Bank Wins Top Cybersecurity Honor Cybersecurity & Risk Excellence at MEA Finance Awards - Middle East Business News and Information

Mid East Info

time21-05-2025

  • Mid East Info

Oman Arab Bank Wins Top Cybersecurity Honor Cybersecurity & Risk Excellence at MEA Finance Awards - Middle East Business News and Information

Muscat, Oman. 21 May 2025. Oman Arab Bank (OAB) has been awarded Best Cybersecurity and Risk Management Implementation in Oman by MEA Finance at the 2025 Banking Technology Awards. The award recognizes the Bank's outstanding achievements in securing its digital operations while meeting the highest standards of regulatory compliance and customer trust. At the core of this achievement, OAB ensures that its cybersecurity practices are not only robust but fully compliant with national governance frameworks. Through its risk-aware security architecture, the Bank dynamically monitors, assesses, and mitigates cyber risks in real time — demonstrating operational integrity across all channels. In recent years, OAB has implemented an advanced threat detection and response platform with extended detection and response (XDR) and security orchestration, automation, and response (SOAR) capabilities. This has enhanced the Bank's ability to identify threats in real-time, analyze security events across multiple layers, and respond more effectively to incidents. Additionally, participation in a global vulnerability research initiative has further reinforced the Bank's defenses against advanced persistent threats and zero-day vulnerabilities. These technology investments have yielded measurable results, with the Bank achieving its lowest-ever Cyber Risk Exposure Management (CREM) percentage. This translates to fewer incidents, faster response times, and consistent success in cybersecurity audits. Beyond technology, Oman Arab Bank continues to foster a cyber-resilient culture through targeted staff training, phishing simulations, and executive-level cybersecurity drills, reinforcing the human layer of defense and building long-term organizational resilience. Mr Sulaiman Al Harthi, Chief Executive Officer of Oman Arab Bank, commented: 'Cybersecurity and risk resilience are no longer back-office functions — they are central to building customer trust and ensuring sustainable growth. This award is a reflection of our technology investment, and also a shared mindset across the Bank that prioritizes vigilance, accountability, and innovation.' The award enhances OAB's competitive edge, increases media visibility, and supports its mission to attract top talent in banking and cybersecurity. Internally, the recognition energizes teams and affirms the Bank's commitment to being a secure, forward-looking institution in Oman.

Salama Reaffirms its Growth Strategy as the Company Reports AED 256 Million in Revenue for Q1 2025, and a Stronger Balance Sheet
Salama Reaffirms its Growth Strategy as the Company Reports AED 256 Million in Revenue for Q1 2025, and a Stronger Balance Sheet

Mid East Info

time15-05-2025

  • Mid East Info

Salama Reaffirms its Growth Strategy as the Company Reports AED 256 Million in Revenue for Q1 2025, and a Stronger Balance Sheet

Total assets reach AED 3.164 billion as equity rises in Q1 2025 S&P Global affirms improved developing 'BBB-' rating, supporting Salama's disciplined path towards long-term sustainable growth Dubai, May, 2025 – Regional insurer Salama (DFM: 'SALAMA'), a leading regional Takaful provider, today announced its financial results for the first quarter ended March 31, 2025. The company reported AED 256.36 million in Takaful revenue, reflecting robust topline performance in a challenging environment. While Q1 2025 net profit stood at AED 0.39 million compared to AED 17.6 million in Q1 2024, the prior year reflected a gain of AED 19.4 million which was an exceptional one-off item. Excluding this one-off gain, core performance remains resilient. Total comprehensive income improved to AED 4.07 million, compared to a loss of AED 23.1 million during the same period last year. This was driven by favourable foreign currency adjustments at each subsidiary level. Salama's total assets reached AED 3.164 billion, and the company's equity position benefitted from the appreciation of both the Algerian Dinar as well as the Egyptian Pound, reflecting improving macroeconomic conditions in key markets. H.E. Fahad AlQassim, Chairman of Salama, stated: 'Salama remains firmly committed to driving sustainable growth and delivering world-class, Shariah-compliant insurance solutions. Having resolved key legacy matters and strengthening our balance sheet, the first quarter of 2025 marks a period of strategic renewal. As we advance our transformation agenda, we remain focused on maximising long-term shareholder value, delighting our customers, empowering our people, and delivering meaningful societal impact.' The positive momentum follows the Company's reinvigorated strategic focus under the leadership of Group CEO Mohamed Ali Boubane, who brings renewed direction to Salama and its subsidiaries across Egypt, Algeria, and Bahrain. Mohamed Ali Boubane, Group Chief Executive Officer at Salama, added: 'We are laying the groundwork for the next phase of Salama's evolution—centred on disciplined underwriting, operational excellence, and digital innovation. All our efforts remain customer centric first and foremost as we look to deepen our market leadership. We are confident that with our talented team and strong regional footprint, we will create enduring value, unlock future growth opportunities, and further reinforce Salama's position as a Takaful industry leader.' Salama's improving outlook was recently affirmed by S&P Global Ratings, which maintained the Company's long-term issuer credit and insurer financial strength rating at 'BBB-' with a Developing outlook—reflecting Salama's potential for sustainable progress as it strengthens its operating fundamentals. About Salama Islamic Arab Insurance Company: Salama Islamic Arab Insurance Company (Salama) is one of the world's largest and longest-established Shariah-compliant Takaful solutions providers listed on the Dubai Financial Market, with paid-up capital of AED 939 million. Since its incorporation in 1979, Salama has been a pioneer in the Takaful industry, having won many industry awards and accolades. Salama's stability and success can be attributed to its customer-centric approach that keeps its customers and partners at the heart of the business, while staying committed to its Takaful principles. The company is recognised for providing the most competitive and diverse range of family, motor, general and health Takaful solutions that meet the ever-changing demand of its individual and corporate customers in the UAE and, through its extensive network of subsidiaries and associates, in Egypt and Algeria. As the preferred Takaful provider for its partners and customers, Salama remains committed to shaping tomorrows, together.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store