Oman Arab Bank Receives Award for Excellence in Digital Banking

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Muscat: Oman Arab Bank has recently won the award of Excellence in Digital Banking at Alam Al-Iktisaad Magazine Awards ceremony 2020, held at Sheraton Hotel Oman in late November. 

Commenting on receiving the accolade, Rashad Al Shaikh, Acting Head of the Retail Banking Division at OAB, said, “Oman Arab Bank has always strived to ensure that technological development and innovation are the key pillars of its transformational strategy, making it renowned as one of the most advanced local financial institutions today. The Bank began its technological journey several years ago, which in turn, led to the launch of its pioneering initiative, “Step to the Future” in 2018. This initiative brought together several creative minds, to collaborate and develop new innovative solutions that were aimed at enhancing the overall experience of the Bank’s customers”.

Oman Arab Bank is considered as one of the most digitally advanced local banks, with its ATMs and POS allowing for NFC payments with debit cards, its mobile app that special features such as instant utility bills payment, as well as a platform for digital donation and vehicle insurance. This is further complemented by the ‘OAB Rewards’ app and the OAB Rewards programme, which allows the Bank’s customers to track their balance and pay for their purchases with points collected at select retail stores.

“A few weeks ago, we launched the ‘Step to the Future 3.0’ initiative, which created a quantum leap in the world of banking services by providing digital onboarding, a loan top-up facility within a few seconds, accessible through the OAB Mobile App, and an exclusive Growth Account, which boasts attractive interest rates for customers who sign-up with the Bank digitally, in addition to the new customer nomination program that provides attractive prizes to customers. Winning the Award of Excellence in Digital Banking this year is a testimony to the fact that we have been successful in enhancing our digital banking experience to benefit our customers. I thank all members of the OAB team for their tireless efforts, as well as our valued customers for placing their trust in us all these years. On behalf of OAB, I also extend my gratitude to Alam Al-Iktisaad for bestowing us with this honourable award,” Rashad added. 

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 55 branches and representative offices with over 160 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking and corporate banking.