OAB’s Commitment to Innovation and National Talent: Key Strategies for Sustainable Business Growth in Oman
MUSCAT, OCT 22 — Oman Arab Bank (OAB) has reiterated its dedication to sustainable growth, innovation, and the development of national talent as core elements of its strategic vision. This commitment was emphasized during a media briefing led by CEO Sulaiman al Harthy at the Bank’s headquarters in Muscat.
In an engaging dialogue with journalists, Al Harthy outlined the Bank’s strategic priorities and achievements, highlighting a sustained focus on operational excellence, digital transformation, and financial inclusion. He characterized the recent period as one of consolidation and progress, marked by increased customer engagement, enhanced efficiency, and a growing range of innovative banking solutions.
"At Oman Arab Bank, we believe that progress is built on trust, innovation, and partnership," Al Harthy stated. "Our initiatives aim not only for sustainable financial performance but also to empower our shareholders, customers, employees, and communities. This open dialogue reflects our commitment to transparency and engagement with the public, which is integral to our success."
The CEO emphasized that OAB’s strategy is closely aligned with Oman Vision 2040. This includes strengthening digital capabilities, nurturing local talent, and upholding high standards of governance and risk management. Despite a dynamic economic landscape, the Bank has continued to demonstrate positive performance while supporting national development priorities.
OAB’s recent achievements underscore this proactive approach. The Bank has bolstered its capital position to facilitate future growth initiatives and has solidified its role as a vital financial partner in projects aimed at advancing Oman’s economic diversification. Moreover, it has expanded support for key industries such as food security, energy, manufacturing, and tourism, while also empowering small and medium enterprises (SMEs) through accessible financing and digital banking tools.
The Tumouhi programme, dedicated to fostering entrepreneurs and SMEs, remains a cornerstone of OAB’s community impact. This initiative offers business owners access to funding, mentorship, and customized digital solutions, enhancing OAB’s contribution to private sector growth and job creation.
On the retail front, OAB has unveiled a suite of new consumer and SME offerings designed to enhance customer experiences and broaden financial access. These include innovative personal and microloan products, tailored financial packages for high-net-worth clients, and new collaborative offerings with leading institutions like Oman Housing Bank.
Digital transformation stands out as a defining strength for OAB. The Bank has recently launched new mobile and online banking platforms to provide secure, seamless, and user-friendly services to individuals and businesses. Additionally, the introduction of SoftPOS, a mobile payment acceptance tool, empowers merchants to process card payments directly via their smartphones, supporting Oman’s transition towards a cashless economy.
OAB is actively backing national digital initiatives, including the domestic card scheme Maal, guided by the Central Bank of Oman. Currently in piloting within OAB’s point-of-sale network, Maal aims to bolster local value creation and enhance payment system independence, in alignment with the country’s financial sector modernization goals.
Beyond technology, OAB is heavily investing in its workforce. The Bank has achieved one of the highest levels of Omanisation in the sector, with nearly full local staffing across all departments. The flagship Ruwad Al Arabi Leadership Development Programme underscores OAB’s commitment to cultivating the next generation of Omani leaders by equipping them with advanced managerial and innovation skills. Complementary initiatives also target fresh graduates and young professionals, ensuring a steady influx of skilled national talent within the organization.
"People remain at the heart of our growth story," Al Harthy noted. "By developing Omani talent, expanding digital capabilities, and deepening our partnerships, we are building a more inclusive and future-ready banking environment for our customers and the broader community."
OAB’s focus on sustainable and inclusive progress extends beyond its internal operations. Through financing solutions for key national projects, comprehensive community programs, and partnerships that promote innovation, OAB continues to play a pivotal role in enhancing Oman’s economic resilience and diversification.
As it looks to the future, Oman Arab Bank aims to strengthen its position as one of the Sultanate’s most trusted and forward-thinking financial institutions. With a strategy rooted in people, progress, and partnership, OAB is committed to shaping a future defined by innovation, responsible growth, and long-term value creation for all stakeholders.
Special Analysis by Omanet | Navigate Oman’s Market
Oman Arab Bank’s focus on sustainable growth and digital transformation positions it as a crucial player in Oman’s evolving economic landscape. For businesses, this creates significant opportunities for collaboration—especially in sectors like energy and tourism—while also emphasizing the need to invest in local talent development to align with national goals. Entrepreneurs should consider leveraging OAB’s support programs for SMEs and digital tools to enhance their market presence, capitalizing on the bank’s commitment to fostering innovation and financial inclusion.
