Category: Banking

Rashad Al Musafir appointed as OAB’s acting CEO

Amin Al Husseini and Rashad Al Musafir have started their new roles at Oman Arab Bank (OAB) as of February 1, 2018. Al Musafir’s appointment is aligned with the executive succession plan previously adopted by the bank at the senior management level. Al Husseini, who first joined Oman Arab Bank in 2014, has been leading […]

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Bank Muscat to offer baituna finance for Al Shams project   

Bank Muscat and Arabian Properties Company have signed a memorandum of understanding (MoU) offering attractive baituna home finance for exclusive residential units in the Al Shams project in Baushar Hills. Abdullah Tamman Al Mashani, deputy general manager, institutional sales and product development, and Ahmed Haider Ahmed, CEO of Arabian Properties, signed the MoU to facilitate […]

Omani banks achieve robust 7.3 per cent growth in credit

Omani banks, including Islamic institutions, have achieved a year-on-year credit growth of 7.3 per cent at RO23.5bn  by November-end of 2017. Credit to the private sector alone rose by 6.5 per cent to RO20.9bn by the end of November 2017, the Central Bank of Oman (CBO) said in its latest monthly report. The banking sector […]

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NBO registers RO44mn net profit

National Bank of Oman (NBO) said that its net profit for 2017 stood at OMR44 million, down from OMR55.8 million posted in the previous year. The bank’s loans, advances and financing activities for customers edged down by 0.6 per cent to RO2,653.9mn in 2017, against OMR2,670.3 million for the previous year, according to a disclosure […]

Bank Muscat
Bank Muscat posts RO176.82mn net profit in 2017

Bank Muscat posted a net profit of RO176.82mn for the for the year ended 31 December 2017 compared to RO176.56mn reported during the same period in 2016, an increase of 0.1 per cent. The bank announced its unaudited preliminary results for 2017, subject to approval of external auditors, board of directors, Central Bank of Oman […]

Abdul Hakeem Al Ojaili
Enhancing customer experience

Abdul Hakeem Al Ojaili, CEO of BankDhofar, talks about the key highlights of Oman’s banking sector in 2017 and the outlook for 2018   Looking back, what were the key highlights of 2017 for the banking sector?   The banking sector faced challenges in overall credit growth triggering prudent lending strategy, due to the overall […]

Bank Nizwa
Islamic finance workshop highlights opportunities for entrepreneurs, SMEs

As part of their Islamic finance knowledge programme, Bank Nizwa, Takaful Oman Insurance and Al Kawthar fund organised their latest workshop in Sohar to highlight the promising and sustainable business opportunities available to entrepreneurs and Small and Medium sized Enterprises (SMEs) in the sphere of the Islamic finance sector. Focusing on development opportunities provided by […]

Alizz Islamic Bank CEO wins ‘Best Arab CEO’ award

Commending his vision for Oman’s Islamic banking industry, Salaam bin Said al Shaksy, CEO of Alizz Islamic Bank, was honoured with the ‘Best Arab CEO’ award in the second edition of the Arab Best Awards ceremony which was held in Marrakesh, Morocco. The award was given to Shaksy in recognition of his inspirational leadership and […]