Latest news with #SWIFTNet
Mid East Info
14-05-2025
- Business
- Mid East Info
Oman Arab Bank Honored for Its Cooperation in Collecting Ministry of Labor Revenues Digitally - Middle East Business News and Information
Muscat: In confirmation of the strong ties and partnership between the government and private sectors, the Ministry of Labor honored Oman Arab Bank for its distinguished efforts in providing advanced digital payment solutions that contributed to facilitating the Ministry's revenue collection processes and enhancing the digital transformation of the government services system. Mr. Mohsen bin Saif Al Ma'amari, the General Director of Administrative and Financial Affairs at the Ministry, handed over the honorary plaque to representatives of Oman Arab Bank, in appreciation of the bank's effective contribution to supporting the Ministry's digital system and providing secure and seamless digital payment solutions for beneficiaries. Mr. Mohsen bin Saif Al Ma'amari stated: 'We value this unique partnership with Oman Arab Bank, which embodies the true integration between the government and private sectors. We have witnessed positive reaction from beneficiaries regarding the ease of use of the digital payment systems provided by the bank, which has contributed to achieving high levels of efficiency and transparency in revenue collection.' Oman Arab Bank is one of the leading banks in providing advanced digital banking solutions that meet the needs of both government and private institutions. The bank recently launched an integrated package of digital commercial banking services specifically designed to support its valued customers from the government and private sectors as well as the Small and Medium Enterprises (SMEs) and enable them to manage their financial operations smoothly and efficiently. These services include: The Corporate Mobile Banking app, which allows customers to manage their accounts and conduct financial transactions, including payments, salaries, and approvals, anytime, anywhere, giving business owners greater flexibility in making decisions and executing them quickly. Host-to-Host payment solutions, which provide a direct and secure connection between corporate systems and the bank's payment system, facilitating daily financial transactions and reducing time, effort, and costs. The global SWIFTNet system, which enables companies to conduct international financial transactions quickly and securely through a reliable platform for transmitting financial messages and instructions. Virtual Account Collection Solutions, which allow organizations to track revenues by project or product by creating dedicated accounts for each payer, enhancing transparency and facilitating cash flow management. Mr. Sulaiman bin Ali Al Hinai, General Manager, Chief Wholesale Banking Officer at Oman Arab Bank, stated: 'Oman Arab Bank stands as a key pillar in the Sultanate's financial landscape, leading the way in empowering both public and private sector institutions through cutting-edge financial solutions and advanced technological support. From the very beginning of the Blessed Renaissance, the bank has played a vital and strategic role in driving this national journey forward. We remain firmly committed to being at the forefront—delivering robust systems and innovative programs that not only enhance operational efficiency but also streamline procedures for all users, citizens and residents alike, in full alignment with Oman Vision 2040.' Oman Arab Bank reaffirms its continued support for digital payment projects across various sectors, working alongside government institutions to enhance financial innovation and provide smart, secure banking solutions.
Mid East Info
11-02-2025
- Business
- Mid East Info
Oman Arab Bank Launches a New Suite of Digital Commercial Banking Service - Middle East Business News and Information
Muscat: As part of its ongoing efforts to lead the banking sector, Oman Arab Bank (OAB) unveiled a new suite of banking e-services for small and medium enterprises (SMEs), corporate clients and government entities on Sunday, February 9. The launch took place at a special event hosted by the bank under the patronage of H.E. Dr. Said bin Mohammed bin Ahmed Al-Saqri, Minister of Economy, with the presence of more than 800 bank clients and high-profile guests. The newly introduced digital commercial banking solutions from OAB provide businesses with seamless, real-time access to their financial transactions, enabling them to process payments, authorise transactions and manage payroll efficiently. The new e-services include: 1. Mobile Commercial Banking Application: o This will allow the bank's valued customers to manage their banking accounts and conduct business transactions such as payments, payroll and transaction approvals at any time and from any location. 2. Host-to-Host Payment Solutions: o A direct connection system linking the clients' systems with the bank's payment system, incorporating the latest developments in this field, significantly saving time and effort while reducing banking transaction costs. 3. Global 'SWIFTNet' System: o A global system that offers simplified connectivity for securely, quickly and efficiently transferring messages and financial transactions from the client to the bank. By leveraging these advanced technologies, OAB empowers businesses with greater financial control, operational efficiency and a future-ready digital banking experience. Speaking about the bank's vision for innovation in banking solutions, Sulaiman Hamed Al Harthi, CEO of Oman Arab Bank, stated, 'In light of the rapid technological developments in banking, Oman Arab Bank continues its diligent efforts to adopt and localise the latest technologies, exploring the best digital solutions and utilising them. Its focus is serving the nation and supporting its development journey, setting an example of excellence and leadership in the banking sector. From this perspective, we have been eager to provide innovative banking services that cater to the needs of various sectors, beginning with micro-enterprises and progressing to small and medium-sized enterprises, which form the backbone of the national economy and are an essential part of the vital resources in advancing this generous nation and extending to large companies and public and private institutions that play a role in driving development.' Meanwhile, Sulaiman Ali Al Hinai, Chief Wholesale Banking Officer, commented, 'These solutions have been meticulously designed following comprehensive studies to offer you the highest levels of security, flexibility and ease in managing your businesses, thereby enhancing your capacity to grow and evolve in a world facing shifts in needs and accelerating challenges. The launch of these solutions reaffirms our continued leadership in digital commercial banking services, where we do not merely keep pace with trends but consistently strive to be at the forefront of innovation, elevating the standards in delivering this type of service and becoming the model to emulate and the reference point to acknowledge.' OAB is recognised for its strong commitment to leading the banking sector through ongoing investment in cutting-edge technology and efforts to meet and exceed customer expectations.
Zawya
11-02-2025
- Business
- Zawya
Oman Arab Bank launches a new suite of digital commercial banking services
Muscat: As part of its ongoing efforts to lead the banking sector, Oman Arab Bank (OAB) unveiled a new suite of banking e-services for small and medium enterprises (SMEs), corporate clients and government entities on Sunday, February 9. The launch took place at a special event hosted by the bank under the patronage of H.E. Dr. Said bin Mohammed bin Ahmed Al-Saqri, Minister of Economy, with the presence of more than 800 bank clients and high-profile guests. The newly introduced digital commercial banking solutions from OAB provide businesses with seamless, real-time access to their financial transactions, enabling them to process payments, authorise transactions and manage payroll efficiently. The new e-services include: Mobile Commercial Banking Application: This will allow the bank's valued customers to manage their banking accounts and conduct business transactions such as payments, payroll and transaction approvals at any time and from any location. Host-to-Host Payment Solutions: A direct connection system linking the clients' systems with the bank's payment system, incorporating the latest developments in this field, significantly saving time and effort while reducing banking transaction costs. Global "SWIFTNet" System: A global system that offers simplified connectivity for securely, quickly and efficiently transferring messages and financial transactions from the client to the bank. By leveraging these advanced technologies, OAB empowers businesses with greater financial control, operational efficiency and a future-ready digital banking experience. Speaking about the bank's vision for innovation in banking solutions, Sulaiman Hamed Al Harthi, CEO of Oman Arab Bank, stated, 'In light of the rapid technological developments in banking, Oman Arab Bank continues its diligent efforts to adopt and localise the latest technologies, exploring the best digital solutions and utilising them. Its focus is serving the nation and supporting its development journey, setting an example of excellence and leadership in the banking sector. From this perspective, we have been eager to provide innovative banking services that cater to the needs of various sectors, beginning with micro-enterprises and progressing to small and medium-sized enterprises, which form the backbone of the national economy and are an essential part of the vital resources in advancing this generous nation and extending to large companies and public and private institutions that play a role in driving development.' Meanwhile, Sulaiman Ali Al Hinai, Chief Wholesale Banking Officer, commented, "These solutions have been meticulously designed following comprehensive studies to offer you the highest levels of security, flexibility and ease in managing your businesses, thereby enhancing your capacity to grow and evolve in a world facing shifts in needs and accelerating challenges. The launch of these solutions reaffirms our continued leadership in digital commercial banking services, where we do not merely keep pace with trends but consistently strive to be at the forefront of innovation, elevating the standards in delivering this type of service and becoming the model to emulate and the reference point to acknowledge.' OAB is recognised for its strong commitment to leading the banking sector through ongoing investment in cutting-edge technology and efforts to meet and exceed customer expectations. For more information about the bank's products and services for individuals and businesses, please visit the official website:
Zawya
06-02-2025
- Business
- Zawya
Oman Arab Bank gears up to launch a new suite of commercial banking services
Muscat: As part of its continuous efforts to lead the banking sector, Oman Arab Bank is set to unveil a new suite of commercial banking services tailored for small and medium enterprises, corporate clients, and government entities. These services will incorporate advanced technologies such as Host-to-Host, SWIFTNet, and virtual accounts. The launch will take place on February 9 at a special event organised by the bank, which will be attended by many clients from various sectors. Designed with a strong emphasis on security and user-friendliness, the new services will allow clients to effortlessly manage their financial operations at any time and from any location. Corporate clients will gain complete oversight and efficient management of financial transactions. By leveraging cutting-edge technology, these services are expected to significantly reduce businesses' operational efforts, minimize human errors, and accelerate payment and financial settlement processes with unparalleled precision.
Mid East Info
06-02-2025
- Business
- Mid East Info
With the Presence of Numerous Companies and Business Owners - Middle East Business News and Information
Oman Arab Bank Gears Up to Launch a New Suite of Commercial Banking Services Muscat, February 5, 2025: As part of its continuous efforts to lead the banking sector, Oman Arab Bank is set to unveil a new suite of banking services tailored for small and medium enterprises, corporate clients, and government entities. These services will include advanced technologies such as the Corporate Mobile Banking App, Host-to-Host, SWIFTNet, and virtual accounts. The launch will take place on February 9 at a special event organised by the bank, which will be attended by many clients from various sectors. Designed with a strong emphasis on security and user-friendliness, the new services will allow clients to effortlessly manage their financial operations at any time and from any location. Corporate clients will gain complete oversight and efficient management of financial transactions. By leveraging cutting-edge technology, these services are expected to significantly reduce businesses' operational efforts, minimize human errors, and accelerate payment and financial settlement processes with unparalleled precision.
