Question 1

What is Oman Arab Bank?

Accepted Answer

Oman Arab Bank is a commercial bank operating in the Sultanate of Oman, providing comprehensive banking services to retail and corporate customers. As one of Oman's established financial institutions, the bank offers retail banking, corporate and project finance, investment banking, trade finance, and Islamic banking services. The bank is publicly listed on the Muscat Securities Market and operates a nationwide network of branches and ATMs across Oman.

Oman Arab Bank is jointly owned by Arab Bank plc (49%), Oman International Development and Investment Company SAOG (OMINVEST) at 30.99%, and other individual and corporate shareholders (20.01%).

Question 2

When was Oman Arab Bank founded?

Accepted Answer

Oman Arab Bank was established in 1984 following the acquisition of all Arab Bank branches in the Sultanate of Oman. The bank's history in Oman extends back to 1973 when Arab Bank first started operations in the country, making 2023 the bank's 50th anniversary of operations in Oman.

In 1992, Oman Arab Bank expanded its operations significantly through the acquisition of all retail branches of Omani European Bank, with which it formally merged in 1994. This expansion solidified its position as a major commercial bank in the country.

Question 3

Where is Oman Arab Bank headquartered?

Accepted Answer

Oman Arab Bank is headquartered in Muscat, the capital of the Sultanate of Oman. The bank's flagship branch is located in the Ruwi commercial district of Muscat.

The bank maintains its principal offices in Muscat Governorate and operates branches in high footfall locations throughout the country.

Question 4

Where does Oman Arab Bank operate?

Accepted Answer

Oman Arab Bank operates exclusively within the Sultanate of Oman, maintaining a nationwide network of branches and banking facilities. As of December 2023, the bank operated 49 branches and 147 ATMs and cash deposit machines (CDMs) across all governorates of Oman.

The bank has a strong presence in major commercial centers including Muscat, Dhofar, and Al Batinah regions. Recent branch openings and renovations include locations in Ruwi, Duqm, Ibra, Nakhal, Awqad, and Saada, demonstrating the bank's commitment to expanding its physical presence across the country.

Question 5

What services does Oman Arab Bank offer?

Accepted Answer

Oman Arab Bank provides a comprehensive range of banking services across multiple segments. Retail banking services include current accounts, savings accounts, fixed deposits, home loans, car loans, personal loans, and various credit, debit, and prepaid card products.

Corporate banking services encompass project finance, trade finance, working capital solutions, and cash management services. The bank also offers treasury services including foreign exchange, money market operations, and hedging services.

Through its acquisition of Alizz Islamic Bank in June 2020, Oman Arab Bank provides Islamic banking services with Sharia-compliant products including Ijarah, Murabaha, Mudarbah, and Diminishing Musharakah. The bank also offers bancassurance products covering motor, travel, health, home contents, and comprehensive personal insurance.

Digital services include internet banking, mobile banking applications, and ATM services, reflecting the bank's commitment to digital transformation since launching its digital strategy in 2014.

Question 6

What makes Oman Arab Bank unique?

Accepted Answer

Oman Arab Bank distinguishes itself through its dual heritage, combining the local expertise of Omani banking with the international reach of Arab Bank's global network spanning 600 branches across five continents. This connection provides customers with enhanced international banking capabilities while maintaining strong local roots.

The bank's 2020 acquisition of Alizz Islamic Bank positioned it as a comprehensive financial services provider offering both conventional and Islamic banking products under one roof. The bank has invested significantly in digital transformation, implementing state-of-the-art omni-channel banking technology to enhance customer experience.

Oman Arab Bank's partnership with the Ministry of Housing and Urban Planning to provide home financing demonstrates its alignment with national development priorities. As of December 2023, the bank's total assets stood at RO 4.02 billion (USD 10.44 billion) with a net worth of RO 517 million (USD 1.34 billion).

Question 7

What type of financial institution is Oman Arab Bank?

Accepted Answer

Oman Arab Bank is a Commercial Bank licensed and regulated by the Central Bank of Oman (CBO). The bank operates as a public joint stock company (SAOG) following its transformation from a closed joint stock company in July 2020, when its shares were listed on the Muscat Securities Market.

As a universal commercial bank, Oman Arab Bank provides the full spectrum of banking services to individuals, small and medium enterprises, large corporations, and institutional clients. The bank is also licensed by the Capital Market Authority (CMA) for investment banking activities, and through its Islamic banking subsidiary, it offers Sharia-compliant financial products supervised by a Shari'a Supervisory Board.

Oman Arab Bank

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About Oman Arab Bank in Oman