Latest news with #SulaimanAlHarthi
Coin Geek
06-08-2025
- Business
- Coin Geek
AFS, Oman Arab Bank eye tokenization; Egypt's digital pay boom
Getting your Trinity Audio player ready... The Arab Financial Services (AFS) and the Oman Arab Bank (OAB) have announced the deepening of a long-running partnership designed to extend payment functionalities for customers. The new partnership extension will power the integration of tokenization with digital wallets, offering a raft of benefits for users. The feature leverages AFS's new digital platform, reducing merchant onboarding costs while allowing OAB to launch secure wallet services, sidestepping a traditionally complicated process. The new tokenization feature offers OAB's customers enhanced security by removing sensitive data from devices. Apart from its fraud reduction perks, the tokenization integration will enable wider merchant acceptance while making it easier for merchants and OAB to comply with regulatory processes. 'We are committed to embracing innovation that enhances our customer experience and future-proofs our services,' said OAB CEO Sulaiman Al Harthi. 'We are proud to be among the first banks to launch on AFS's new digital platform—a move that aligns perfectly with our digital transformation agenda and positions us to lead the market in seamless, secure payment solutions.' Before extending its collaboration with the AFS, the OAB had introduced tokenization for Apple Pay, Google Pay, and Samsung Pay. At the time, the move placed the OAB in pole position as the leading financial organization spearheading Oman's digital revolution. 'This renewal marks our collective intent to cultivate a new landscape of secure, agile, and supremely customer-centric financial services for the Omani market,' said AFS CEO Samer Soliman. Armed with the AFS functionalities, analysts predict that the $600 million OAB will extend its customer base and valuation. Meanwhile, the AFS has inked a partnership with Ternoa to roll out a payment solution for enterprises in the Gulf, broadening its reach across the Middle East and Africa. Oman turns its sights on digitization Oman has signaled an intention to keep pace with regional first-movers for the digitization of payments, turning to emerging technologies. The country is mulling the prospects of blockchain for financial inclusivity and other use cases in key sectors of its fledgling economy. To spearhead the push, the country is chasing a regulatory framework for digital assets to govern service providers' operations and their tax liabilities. It also has its sights set on block reward mining, mulling the prospects of improved digital economy growth and an efficient payment landscape. Egyptian enterprises embrace payments revolution Elsewhere, a new report has uncovered a significant surge in digital payments adoption among small and medium enterprises (SMEs) in Egypt, driven by several factors peculiar to the North African country. The report, compiled by payments giant Visa (NASDAQ: V), identified the glowing metrics and growth potential for digital payments among Egypt's SMEs. An estimated 53% of merchants surveyed by Visa have incorporated digital payment functionalities into their business operations over the last two years. Over half of the merchants running SMEs disclosed an intention to pivot to digital payment systems in the coming months, eyeing the benefits gleaned from their peers that have made the transition. Meanwhile, 80% of digital payment adopters have expressed overall satisfaction with the pivot, citing a spike in revenue and productivity. A slice of the early adopters revealed additional benefits, such as offering loyalty programs and obtaining data-driven insights. Changes in consumer behavior are also forcing SMEs to embrace digital payments in Egypt. A thriving e-commerce sector and the fusion of social media and online retail are contributing to the surge in adoption metrics. 'Across North Africa, Levant, and Pakistan, we are witnessing a transformative shift as small and medium businesses embrace digital payments,' said Essam El Daly, Visa's Head of Merchant Sales and Acceptance Solution for North Africa. To improve the glowing growth metrics, Egypt's Micro, Small, and Medium Enterprises Development Agency (MSMEDA) is eyeing a collaboration with Visa. MSMEDA CEO Bassel Rahmy disclosed ambitious plans to support local SMEs in making the leap to digital payment methods. Rahmy highlighted the upsides of Visa's suite of services, including Tap to Pay and contactless payment functionalities, as instrumental in onboarding new SMEs. Egypt's government weighs in on payment digitization Apart from the push by the private sector, the Egyptian government has thrown its weight behind jolting financial inclusion via digitization. Last year, authorities advanced plans for a central bank digital currency (CBDC) rollout by the end of the decade, following up with the rollout of a digitalization strategy at the start of 2025. To avoid becoming a digital colony, Egypt is spending a fortune on integrating emerging technologies into key economic sectors. Under its AI strategy, ambitious plans are being implemented to improve service delivery in governance, environment, and human resources. Watch | BSV Stories – Episode 4 – The Middle East's Blockchain Race title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Zawya
03-08-2025
- Business
- Zawya
Oman Arab Bank: From initiatives to empowerment: A national award that embodies a deep commitment to community
Muscat: Oman Arab Bank has proudly received the "Organization with Best CSR Practices" award at the Oman Leadership Awards 2025, presented by CMO Asia, in a ceremony that celebrated organizations making a significant and sustainable impact on society and the national economy. This national recognition is more than a symbol of excellence—it is a powerful reflection of the Bank's long-standing journey of purpose, where community impact has been woven into its core strategy. Rather than viewing CSR as a separate requirement, Oman Arab Bank has fully embraced it as a pillar of its identity and growth. The Oman Leadership Awards honor institutions that embody the philosophy of "Making a Real Difference" through integrity, purpose, and sustainable practices. Oman Arab Bank stood out after rigorous evaluation by a distinguished panel of judges from diverse disciplines. Commenting on the award, Mr. Sulaiman Al Harthi, CEO of Oman Arab Bank, stated: 'We are honored to receive this recognition, which is not just an award, it's a demonstration to our core mission. At Oman Arab Bank, CSR is not an initiative. It's a responsibility rooted in who we are and what we stand for.' Ms. Dalal Al Rahma, Acting Head of Corporate Communications at OAB, said: 'This award is not just a milestone; it is a mirror that exemplifies our collective heartbeat as a responsible and sound institution. Every campaign we launch, every partnership we build, is rooted in empathy and impact. We listen, we learn, and we lead with purpose. Therefore, I believe that is how real change begins, and, eventually, how trust is earned.' What set OAB apart was its strong integration of ethical values into everyday operations, along with its commitment to transparency and accountability. The Bank's proactive communication and collaboration with stakeholders ensure that its initiatives are inclusive, measurable, and aligned with national goals such as Oman Vision 2040. With this recognition, Oman Arab Bank reinforces its role as a changemaker in the financial sector, one that leads not just with numbers, but with purpose and integrity.
Biz Bahrain
01-08-2025
- Business
- Biz Bahrain
AFS and Oman Arab Bank Unveil Pioneering Digital Payments Platform
Arab Financial Services (AFS), the Middle East and Africa's premier digital payment solutions provider and fintech enabler, announced a significant expansion of its enduring strategic partnership with Oman Arab Bank (OAB). This expansion reaffirms a shared commitment to pioneering innovation, setting an elevated benchmark for digital banking experiences across Oman. Extending AFS's proven legacy in processing, this revitalized alliance now advances the collaboration into a new era with the seamless integration of advanced tokenization for global digital wallets. Leveraging AFS's deep expertise, OAB has already proactively deployed tokenization across leading platforms like Apple Pay, Samsung Pay, and Google Pay, cementing its position at the vanguard of Oman's rapidly evolving digital payments landscape. Central to this deepened partnership is OAB's strategic foresight in becoming one of the inaugural banks to migrate to AFS's transformative new digital payments platform. This next-generation solution is meticulously engineered not only for today's dynamic payments landscape but also to future-proof operations, offering unparalleled speed, scalability, and configurability. Mr. Samer Soliman, CEO of AFS, commented: 'The strength of our decades-long partnership with Oman Arab Bank is vividly reflected in this agreement, as is our shared dedication to leading the charge in digital banking innovation. This renewal marks our collective intent to cultivate a new landscape of secure, agile, and supremely customer-centric financial services for the Omani market'. Adding to this, Mr. Sulaiman Al Harthi, CEO of Oman Arab Bank, stated: 'We are committed to embracing innovation that enhances our customer experience and future-proofs our services. We are proud to be among the first banks to launch on AFS's new digital platform – a move that aligns perfectly with our digital transformation agenda and positions us to lead the market in seamless, secure payment solutions.' This strategic renewal not only solidifies AFS's leadership in the region's fintech space but also significantly advances Oman Arab Bank's vision to deliver future-ready digital banking experiences, actively shaping the broader payments landscape across Oman.
Zawya
23-07-2025
- Business
- Zawya
Oman Arab Bank and Ministry of Labour join forces to enhance financial efficiency in government institutions
Muscat: Oman Arab Bank (OAB) reaffirmed its commitment to fostering national talent and strengthening institutional collaboration by hosting a specialized workshop for the Ministry of Labour. Titled 'Enhancing Financial and Accounting Efficiency in Governmental and Financial Institutions,' the three-day training was held from 13th to 15th July at the Bank's headquarters and brought together 25 employees from the Ministry of Labour. This initiative is part of the Bank's broader vision to contribute to Oman's socio-economic development by sharing expertise and supporting capacity building within key public sector entities. The workshop was conducted in partnership with the Modern College of Business and Science, ensuring participants benefitted from practical insights delivered by an experienced lecturer specializing in financial management and public sector accounting practices. The interactive sessions combined theoretical frameworks with case studies, offering Ministry employees actionable tools to optimize financial operations and drive efficiency across their departments. Mr. Sulaiman Al Harthi, Chief Executive Officer of Oman Arab Bank, underscored the significance of this collaboration. He commented, 'At Oman Arab Bank, we believe that empowering human capital is fundamental to sustainable progress. Our partnership with the Ministry of Labour reflects our shared dedication to investing in people and building strong institutions that serve the nation effectively. By facilitating specialized training programmes, we aim to contribute to a culture of continuous learning and professional excellence.' Participants expressed their appreciation for the opportunity to engage with industry experts and gain exposure to best practices that can be applied within their roles. OAB's support of such initiatives aligns with its long-standing commitment to corporate social responsibility and its mission to play an active role in advancing Oman's Vision 2040. The Bank has consistently collaborated with governmental bodies, educational institutions, and community organizations to develop programmes that promote skills development, financial literacy, and economic empowerment. Looking ahead, Oman Arab Bank plans to expand its training offerings and further strengthen partnerships with public sector entities to drive impactful change and support the development of Omani talent across sectors.
Zawya
06-07-2025
- Business
- Zawya
OAB launches ‘Kharif Dhofar' campaign with exclusive perks for credit cardholders
Muscat: As the Kharif season draws travelers to the lush landscapes of Dhofar, Oman Arab Bank (OAB) is pleased to announce the launch of its seasonal Kharif Dhofar Campaign, designed exclusively for OAB Visa Credit Cardholders. This special initiative is set to enhance the travel and spending experience of customers visiting the scenic Dhofar region during the much anticipated Kharif season. This limited-time offer unlocks a suite of value-driven perks, including exclusive discounts on car rentals, cashback on fuel purchases, and special rates at selected hotels and restaurants in Salalah. The aim is to provide seamless, convenient, and budget-friendly experiences for customers enjoying the magic of Kharif. 'At OAB we are committed to design campaigns that are closely aligned with our customers' lifestyles,' said Mr. Sulaiman Al Harthi, CEO of OAB. 'The Kharif Dhofar Campaign reflects this promise to turn every trip into an opportunity for savings, convenience and unforgettable moments during one of the most celebrated seasons in Oman. We want our customers to focus on making memories, while we take care of the value.' The Kharif Dhofar Campaign is available to all OAB Visa Credit Cardholders supported by a multi channel promotional strategy, including influencer collaborations, in-branch activations, and digital engagement, the campaign is set to capture the spirit of the season while rewarding our loyal customers with meaningful perks. Whether customers are planning a road trip across the Dhofar coastline or a relaxing stay in Salalah, OAB's Kharif Dhofar Credit Card Campaign ensures that their experience is smoother, more affordable, and filled with added value.
