Category: Banking & Finance

Banking & Finance
OAB Jamil Abdul Qader Al Zadjali
OAB appoints new head of retail banking at Al Yusr

Oman Arab Bank (OAB) announced the appointment of Jamil Abdul Qader Al Zadjali as head of retail banking and business support at its Al Yusr Islamic banking unit. All personnel working for the retail banking and business support of OAB’s Islamic banking window will now report to Jamil Al Zadjali. “We, at OAB, always prioritise […]

Banking & Finance
Maintaining performance momentum

In the prevailing economic situation, banks will require to maintain steady growth in loan book and deposit mobilisation, says Abdul Razak Ali Issa, Chief Executive, Bank Muscat How is Oman’s banking sector going to shape up in 2018? The banking sector will continue to play a key role in activating and shaping the economic future […]

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 […]

Banking & Finance
Broad money supply in Oman rises 3.2 per cent to RO16.1bn

Broad money supply M2 (M1 plus quasi-money) of banks in Oman grew by 3.7 per cent to reach RO16.1bn at the end of October 2017 during the same period in 2016. Narrow money stock (M1) registered a year-on-year (YoY) decline of 1.9 per cent to reach OMR5 billion, at the end of October 2017. However, […]

Banking & Finance
Bank Dhofar
BankDhofar signs financing deal with SSDC

BankDhofar signed an agreement with the Salalah Sanitary Drainage Services Company (SSDC) to finance the expansion of its Raysut treatment plant. The finance agreement was signed at the Salalah Sanitary Drainage Services Company’s headquarters in the Governorate of Dhofar. Representing BankDhofar at the signing ceremony was Kamal Hassan Al Murazza, general manager and chief wholesale […]

Banking & Finance
Robust growth

The total outstanding credit extended to banks in Oman by other depository corporations stood at OMR23.3 billion at the end of October 2017, registering a growth of 6.2 per cent over the same period in 2016. The banking sector in Oman continued to witness reasonable growth in both credit and deposits. The combined balance sheet […]

Banking & Finance
ODB’s loan portfolio to touch RO411mn by 2022

Oman Development Bank (ODB) aims to achieve a double digit growth in loan portfolio with its total funding expected to reach OMR411 million by 2022, from the current OMR137 million in 2017. Presenting the new strategy of the ODB for the period between 2018 and 2022, Dr Abdulaziz bin Mohammad Al Hinai, CEO of the ODB. said […]

Banking & Finance
Oman Arab Bank appoints acting CEO

The Board of Directors of Oman Arab Bank (OAB) has announced its endorsement of the CEO Amin Al Husseini’s recommendation to appoint his Deputy Rashad Al Musafir as acting CEO effective from February 1, 2018. The appointment is aligned with the Bank’s strategic transformation that started four years ago under the leadership of its CEO, […]

Banking & Finance
Muscat Capital launches real estate fund

Muscat Capital, the Saudi-based investment banking subsidiary of Bank Muscat, announced the successful closure of its first Real Estate Investment Traded (REIT) fund. The new Al Masha’ar Fund with a size of 572 million Saudi riyals has been launched with an objective to invest in high income yielding rental properties in the Holy cities of […]

Banking & Finance
OAB launches advanced automation system

In line with its strategy to transform itself into a pioneer in digital banking in Oman, Oman Arab Bank (OAB) has launched the new robotic process automation system — a first of its kind in the Sultanate. This advanced system will perform most of the daily banking transactions, instead of them being manually done by […]