Oman Arab Bank Explained

Oman Arab Bank SAOG
Type:Public joint stock company
Location City:Al-Ghubra, Muscat
Location Country:Oman
Industry:
Net Income:[1]
Assets:[2]
Parent:

Oman Arab Bank (Arabic: بنك عمان العربي) is a commercial bank in Oman, established in 1984. It is jointly owned by Arab Bank plc (49%), Oman International Development and Investment Company SAOG (31.63%) and other individual or corporate shareholders (19.37%).[3]

History

Oman Arab Bank was established in 1984.

In 2014, the bank launched its digital transformation strategy, enhancing its banking channels and services by employing the state-of-the-art technologies, promoting a culture of innovation and talent management, as well as providing added-value services through strategic partnerships.[4] The CEO Abdul Qader Ahmed Askalan resigned in 2013.[5]

Oman Arab Bank has acquired 100% of Alizz Islamic Bank in June 2020 and merged its Al Yusr Islamic Banking window with Alizz Islamic Bank.[6]

On July 6, 2020, Oman Arab Bank was transformed from a closed to a public joint stock company, with its shares listed on the Muscat Securities Market (MSM).[7]

Activities

Oman Arab Bank operates in the retail banking, corporate banking, project finance, investment banking, trade finance and Islamic banking sector.

See also

Notes and References

  1. Web site: Chairman Message . Oman Arab Bank.
  2. Web site: Chairman Message . Oman Arab Bank.
  3. Web site: About OAB . Oman Arab Bank.
  4. Web site: Oman Arab Bank Launches Step to the Future 2.0 . BusinessLiveME . 2019-10-11 . 2020-08-12.
  5. Web site: Resignation of the CEO of Oman Arab Bank . 2023-02-03 . www.ominvest.net.
  6. Web site: Oman Arab Bank acquires Alizz Islamic Bank . The Arabian Stories . 2020-04-21 . 2020-08-12.
  7. Web site: Oman Arab Bank lists shares on MSM . Oman Observer . 2020-07-06 . 2020-08-12.