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OMAN ARAB BANK - NEWS
 Oman
Arab Bank SAOC last week launched its new Private Banking services under
the brand of Club Elite. At a function held on January 11th,
2007
Club Elite was formally launched by the bank in the presence of
dignitaries. Club Elite will cater to a niche set of private banking
clients who will be offered banking and investment services through a
single point contact at the bank. The Club will also offer certain
privileged services to the clients on a referral basis. The objective
will be to assist the client in wealth management, planning and in
execution of financial transactions.
Oman
Arab Bank has recently launched its two new offerings – Dhaman – which
offers insurance products& services and Al Dar Housing loans.
Introduction of Club Elite is an indication of the commitment of the
bank towards its client by way of offering a wide range of services to
cover all the financial and banking requirements.
 Club
Elite was formally introduced by the Chief Executive Officer of the bank
Mr. Abdul Kader Askalan by welcoming the audience and giving a brief
introduction of the recently launched services and about Investment
Management Group. The CEO mentioned that the bank will soon be launching
Electronic Banking for its customers and also Electronic Trading for
Muscat Securities Market.
Louma
Atassi made a presentation detailing the offerings of Club Elite and
highlighted that the emphasis will be on assisting the client in
formulating a wealth management plan, suggesting an appropriate
investment strategy and also assist the client in implementation of the
plan. The presentation also indicated that the Club, apart from banking
and investment services, will also assist its clients for various
requirements on a referral basis like, legal, real estate, travel, event
management, etc.
The event
was attended by dignitaries and potential and existing clients of the
bank including high net worth individuals and pension funds. Several
members from the top-level management of the bank were also present at
the event.
Oman Arab Bank Honoured
In appreciation of Oman Arab Bank's efforts in
Omanisation and its commitment to following Omani laws, H.E. Malik bin
Suleiman Al-Maamari, Minister of Transport & Communications, on behalf of
the Ministry of Manpower, conferred Oman Arab Bank with an award and
honorary certificate. The honours were received by Mr. Abdul Kader Askalan,
CEO of Oman Arab Bank, at a function held at Majan Hall, Al-Bustan Palace
Hotel.
As is well known, Oman Arab Bank was the first commercial bank to reach
the Omanisation target set by the Central Bank of Oman with a 91.36% rate.
It also ranks among one of the leading banks in the Omanisation of
management positions (more than 78%). Omanisation in the first quarter of
2002 continued its upward trend, with the rate increasing to 91.48%. Oman
Arab Bank also strongly emphasizes staff training, providing local and
international courses for its employees (2001 training ratio stood at
137.60%).
Oman Arab Bank holds monthly draw
for Hassad Savings Account at Sur
Oman Arab Bank held its monthly draw for the new Hassad Family Fortunes
Scheme, under the auspices of H.E. Sheikh Rabi' bin Mubarak bin Issa Al-Alawi,
member of Wilayat Sur Majlis Al Shura. In attendance from the Bank were
Mr. Bishara Qafiti, DGM Retail Banking & Operations, a number of General
Management officials and several branch managers from the Sharqiya Region.
A substantial crowd of locals came to view the draw.
In his opening address, Mr. Bishara Qafiti welcomed the guest of honor and
attendees and thanked them for their presence. He explained that due to
the customer response to a survey conducted by the Bank on the Hassad
Family Fortunes Scheme, it was decided to conduct the draw within a new
framework. This involves distributing the winnings among a larger number
of customers, as opposed to just one winner. There are 50 prizes every
month under the new scheme, of which two prizes are for ladies and four
prizes for children. In addition to this, 16 prizes are allocated to
customers of the branch holding the draw.
Mr. Qafiti added that the growth and success of Oman Arab Bank was due to
its conservative banking philosophy, specifically in its lending policies,
where it follows sound banking policies, with the intention of providing
the best services to its customers.
The winner of the 1st prize of R.O. 5,000/= was Mr. Abdullah Ahmed
Mardoukh, a customer at Al-Mintrib Branch. The 2nd prize of R.O. 2,500/=
went to Mr. Saleh Mohammed Fresh Al-Jamadi of Ibra Branch, and the 3rd
prize of R.O. 1,000/= was won by Ms. Hanifa Saeed Mohammed Al-Bulushi of
Muscat Branch.
Eligibilty for the Hassad Prize Draw is simple: all that is required is
that the customer open a Hassad Savings Account and maintain a minimum of
R.O. 100/=. The next draw is to be held in May 2002.
Oman Arab Banks holds dinner reception for the
participants in the meetings of The Indian Ocean Rim Association for
Regional Co-operation (IORARC)
Mr. Abdul Kader Askalan, CEO, Oman Arab Bank, recently held a dinner
reception at Jabrin Hall, InterContinental Hotel to honour the
participants in the meetings of the Indian Ocean Rim Association for
Regional Co-operation. The meetings were held in Muscat, as the Sultanate
of Oman is the host president for this session.
In attendance at the function were H.E. The Ambassador Awad bin Bader Bin
Marai Al-Shanfari, Chief of the Economical and Technical Co-operation
Department at the Ministry of Foreign Affairs and President of the
Committee of Senior Officials of the IORARC; Mr. Mushtaq bin Abdullah Al-Saleh,
president of the working group involved in commerce and investment; Sheikh
Saeed bin Nasser Al-Khusaibi, Director of the Oman Chamber of Commerce and
Industry and President of the Businessman Club of the IORARC; Engineer
Salem bin Nasser Al-Ismaili, CEO, Oman Centre for Investment Promotion and
Export Development; their excellencies Heads of Delegations and all the
participants of the meetings. A number of officials from the Ministry of
Foreign Affairs and Oman Arab Bank also graced the function.
Participant countries in the IORARC include: The United Arab Emirates,
Republic of Yemen, Islamic Republic of Iran, Mauritius, Republic of South
Africa, Australia, Republic of Singapore, Republic of Kenya, United
Republic of Tanzania, Republic of Mozambique, Republic of Madagascar,
Republic of Indonesia, Malaysia, Democratic Republic of Sri Lanka,
Republic of Bangladesh, Kingdom of Thailand, Seychelles, and the Republic
of India.
Oman Arab Bank Awards its
Employees
On the
occasion of the completion of the 2001 financial year, Oman Arab Bank
hosted its annual dinner party for the Bank employees at the Sindbad Hall
in the Crowne Plaza Hotel, Qurum.
In his inaugural address, Mr.
Abdul Kader Askalan, Chief Executive Officer, conveyed the greetings of
the Chairman and the Deputy Chairman of the Board of Directors who have
made it a custom to attend the Bank’s annual dinner party, but due to
circumstances could not attend this year.
In his speech, Mr.
Askalan mentioned the Bank’s financial results and commended the employees
on their sincere efforts in making Oman Arab Bank one of the leading banks
in the country.
Mr. Askalan affirmed the strength of the ties
between the management and the employees, pointing out that “the employees
are the Bank’s true assets and it is through them that we could achieve
greater success.”
He asked all staff to maintain strong ties with
the Bank’s customers as their satisfaction is our main goal and first
priority, “Our future strategy will focus on satisfying our customers
needs and offering them the best services.”
Mr. Askalan added that
the growth and success of Oman Arab Bank was due to its conservative
banking philosophy, specifically in its lending policies, where it follows
Arab Bank Plc’s conservative footsteps.
Later in the evening,
Long-Service Awards were distributed to those employees who completed 15
and 10 years of service with Oman Arab Bank. Outstanding Employee Awards
were also presented to exemplary employees for their distinguished
performance.
Oman Arab Bank convenes a meeting for its General
Management Officials & Branch Managers
Oman Arab Bank recently held its first quarterly meeting
attended by General Management officers and Branch Managers in the Sindbad
Hall at the Crowne Plaza Hotel to review the Bank’s results for the period
ending 31/12/2001, and to discuss business developments and future
plans.
The meeting was presided over by Mr. Abdul Kader Askalan,
CEO of the Bank. He expressed his pleasure and appreciation of the Bank’s
achievements during the past year, despite the difficulties faced by the
banking sector. He said that “2001 was a year of turbulence and
uncertainty in the financial sector, and it is during such times that the
true character of a bank emerges most clearly”.
Mr. Askalan
addressed the changes faced by the banking sector locally and
internationally and mentioned that “it was due to our balanced policies
that we were able to persevere and emerge as the number one bank in the
Sultanate for return on share capital”.
The CEO said that the
Bank’s excellent performance in the difficult economic circumstances with
all its hardships in addition to the intense competition in the banking
sector is proof of its abilities, that “it is the true test for any
establishment to prove its stability, solidity and its ability to protect
its gains and position”. From its inception, Oman Arab Bank has followed a
clean lending policy, and has continued to protect the integrity of its
assets and maintain its high profitability ratio, in a time when most
banks were finding it hard to do so.
Mr. Askalan affirmed the
strength of the ties between the management and the employees, pointing
out that “the employees are the Bank’s true assets and it is through them
we could achieve greater success”. He pressed for increased effectiveness
and productivity, and stressed the importance of improving the standard of
customer service.
He verified the importance of marketing and
affirmed the necessity to increase the marketing activities of all
employees, especially the branch managers, taking advantage of the Bank’s
excellent reputation in the Omani market.
The branch managers were
also given the opportunity to present and clarify their branch results,
and explain the difficulties faced by them. A number of officials from the
general management involved with branch administration were also heard
from.
Towards the end of the meeting an open dialogue was held
between the management and branch managers where ideas and recommendations
were exchanged to enhance branch performance and improve the Bank’s
results.
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