Latest news with #OmanArabBank
Zawya
3 days ago
- Business
- Zawya
Oman: OAB unveils capital boost to power SME growth and digital innovation
MUSCAT: Oman Arab Bank (OAB) plans to increase its authorised capital to RO 500 million, up from RO 200 million presently, and increase its paid-in capital by RO 50 million by way of a shareholder-underwritten rights issue, subject to regulatory approvals. The capital boost is designed to increase the Bank's capital adequacy, enable enhanced lending to priority economic sectors, and spur digital innovation, with enhanced financial strength and long-term growth flexibility. Sulaiman al Harthi, Chief Executive Officer of Oman Arab Bank, stated, 'This move is expected to significantly strengthen the bank's capacity to contribute to national economic growth. It will enhance the bank's ability to finance large, medium, and small-scale projects, while also improving its overall financial standing and credit rating. These improvements will better position the bank to attract funding from international lending institutions and potentially support future capital increases,' he remarked. This strategic move will assist in strengthening the Bank's level of capital adequacy and set the stage for increased retail and corporate borrowing. It will also allow the Bank to have more room to invest in digital banking technology, further advancing its vision of growth through innovation. The capital boost will be particularly heartening for small and medium enterprises (SMEs), which form the backbone of Oman's private sector. With its enhanced lending capability, Oman Arab Bank will be better placed to provide expert finance solutions, larger credit facilities, and targeted support to SMEs—sectors that traditionally face funding constraints. The Bank's stronger position will also enable the launch of more nimble financing offerings and digital banking services that can streamline operations and improve financial inclusion for growing businesses. With its empowerment of SMEs, the Bank not only speeds up entrepreneurship and job creation but also makes a direct contribution to Oman's broader economic diversification goals under Oman Vision 2040. The growth of paid-in capital will be brought about by way of a rights issue, whereby existing shareholders, being the record date to be determined, have a choice of subscribing on a pro-rata basis. The authorized capital increase is designed to provide longer-term flexibility so that the Bank can seize future equity issuance opportunities in response to evolving market conditions. Such endeavours further enhance Oman Arab Bank's vision-driven approach for supporting Oman's economic aspirations with financial caution and preparedness to expand. Oman Arab Bank's planned capital increase is a bold step based on financial solidity, innovation, and national development. Through consolidation of its capital pillar, the Bank is positioning itself to better contribute to the economic development of Oman, improve lending capacity in core sectors, and propel digital progress. With the endorsement of shareholders and regulatory inputs, this action is a milestone towards achieving long-term solidity and strategic responsiveness within a transforming financial environment. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Oman Arab Bank announces increase of authorised capital to OMR 500mln
Muscat, Oman – Oman Arab Bank ('the Bank'), one of Oman's leading financial institutions, announced that its Board of Directors has invited its shareholders to approve an increase in the Bank's authorised capital from OMR 200 million to OMR 500 million. In addition, the Bank will raise its paid‑in capital by OMR 50 million through a rights issue to be underwritten by the Bank's shareholders. This capital enhancement, which remains subject to regulatory approval, will further strengthen the Bank's capital adequacy ratios, support accelerated growth in retail and corporate lending, and provide a robust platform for continued digital‑banking innovation. Sulaiman Al Harthi, Chief Executive Officer of Oman Arab Bank, stated, 'The proposed increase in authorized and paid-up capital highlights our strong foundations as a brand. With a larger capital base, we can expand our credit to vital economic sectors, invest in the next generation of digital services, and deliver long-term, sustainable value to all stakeholders. This will pave the way for strengthening the bank's balance sheet, strengthening its Tier 1 capital ratio, and providing the necessary flexibility to weather economic fluctuations.' The paid‑in capital increase will be executed via a rights issue. Existing shareholders of record as of the book‑closure date (to be announced) will be entitled to subscribe on a pro‑rata basis. The authorised‑capital increase will give the Bank flexibility to undertake additional equity issuances in the future as market opportunities arise, while remaining within prudential limits. About Oman Arab Bank Founded in 1973, Oman Arab Bank provide commercial and Islamic banking activities, through its wholly owned subsidiary Alizz Islamic Bank, through 50 branches, 24/7 digital channels, and a network of correspondent banks. Forward‑Looking Statements This press release may contain forward‑looking statements. Actual results may differ materially from those expressed or implied. The Bank undertakes no obligation to update forward‑looking statements except as required by law. Investor Contacts Investor Relations:
Observer
4 days ago
- Business
- Observer
OAB unveils capital boost to power SME growth and digital innovation
MUSCAT: Oman Arab Bank (OAB) plans to increase its authorised capital to RO 500 million, up from RO 200 million presently, and increase its paid-in capital by RO 50 million by way of a shareholder-underwritten rights issue, subject to regulatory approvals. The capital boost is designed to increase the Bank's capital adequacy, enable enhanced lending to priority economic sectors, and spur digital innovation, with enhanced financial strength and long-term growth flexibility. Sulaiman al Harthi, Chief Executive Officer of Oman Arab Bank, stated, 'This move is expected to significantly strengthen the bank's capacity to contribute to national economic growth. It will enhance the bank's ability to finance large, medium, and small-scale projects, while also improving its overall financial standing and credit rating. These improvements will better position the bank to attract funding from international lending institutions and potentially support future capital increases,' he remarked. This strategic move will assist in strengthening the Bank's level of capital adequacy and set the stage for increased retail and corporate borrowing. It will also allow the Bank to have more room to invest in digital banking technology, further advancing its vision of growth through innovation. The capital boost will be particularly heartening for small and medium enterprises (SMEs), which form the backbone of Oman's private sector. With its enhanced lending capability, Oman Arab Bank will be better placed to provide expert finance solutions, larger credit facilities, and targeted support to SMEs—sectors that traditionally face funding constraints. The Bank's stronger position will also enable the launch of more nimble financing offerings and digital banking services that can streamline operations and improve financial inclusion for growing businesses. With its empowerment of SMEs, the Bank not only speeds up entrepreneurship and job creation but also makes a direct contribution to Oman's broader economic diversification goals under Oman Vision 2040. The growth of paid-in capital will be brought about by way of a rights issue, whereby existing shareholders, being the record date to be determined, have a choice of subscribing on a pro-rata basis. The authorized capital increase is designed to provide longer-term flexibility so that the Bank can seize future equity issuance opportunities in response to evolving market conditions. Such endeavours further enhance Oman Arab Bank's vision-driven approach for supporting Oman's economic aspirations with financial caution and preparedness to expand. Oman Arab Bank's planned capital increase is a bold step based on financial solidity, innovation, and national development. Through consolidation of its capital pillar, the Bank is positioning itself to better contribute to the economic development of Oman, improve lending capacity in core sectors, and propel digital progress. With the endorsement of shareholders and regulatory inputs, this action is a milestone towards achieving long-term solidity and strategic responsiveness within a transforming financial environment.
Mid East Info
6 days ago
- Business
- Mid East Info
OAB Wraps Up SME Training Roadshow in Nizwa, Reaffirms Commitment to Nationwide SME Growth - Middle East Business News and Information
Muscat. 22 June, 2025. Oman Arab Bank (OAB) has successfully concluded the third leg of its SME Development Training Roadshow, held in Nizwa from 17 to 18 June, 2025. Organized in collaboration with SME Development Authority and Oman Chamber of Commerce and Industry in Nizwa, under the Bank's flagship Tumouhi initiative, the event drew wide participation from aspiring entrepreneurs and small business owners in Al Dakhiliyah, continuing a nationwide mission to support and empower Oman's growing SME sector. The event was held under the auspices of H.E Sheikh Dr. Faisal bin Ali bin Rashid Al Zidi (Wali of Manah). Following successful workshops in Muscat and Sohar earlier this year, the Nizwa event brought together a dynamic mix of sessions covering financial literacy, business strategy, marketing, and HR fundamentals. Designed to offer hands-on learning and real-world insights, the two-day workshop also served as a vibrant networking hub for local entrepreneurs and industry experts. H.E Sheikh Dr. Faisal Al Zidi expressed his enthusiasm towards this initiative in supporting the SME sector, praising the government's steadfast approach and the great attention it pays to this vital sector, given its pivotal role in supporting the growth of the economy and enhancing its diversity. He emphasized that supporting entrepreneurs and emerging business owners contributes to creating new job opportunities and enhancing local innovation. H.E Sheikh Dr Faisal Al Zidi stated, 'This workshop is a true turning point for entrepreneurs. They would walk in with ideas, and leave with a plan, equipped with the confidence to take their businesses to the next level. The sessions were practical, relevant, and exactly what small business owners and entrepreneurs would need.' Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, commented on the roadshow's continued momentum, 'At Oman Arab Bank, we view SMEs as key drivers of economic resilience and innovation. Through Tumouhi, we're not just delivering training — we're creating access, building networks, and empowering business owners in every corner of the Sultanate. The response in Nizwa has been incredibly encouraging, and we remain committed to reaching even more regions with the tools and support SMEs need to thrive.' The Tumouhi Roadshow is part of OAB's long-term strategy to promote financial inclusion, empower local talent, and align with the goals of Oman Vision 2040. By providing practical tools and strategic guidance, OAB aims to equip SMEs with the foundations to grow, innovate, and contribute meaningfully to the national economy. The Bank has confirmed that future roadshows are in the pipeline, with a commitment to covering all regions across the Sultanate in the months ahead.
Zawya
6 days ago
- Business
- Zawya
OAB wraps up SME training roadshow in Nizwa
Muscat: Oman Arab Bank (OAB) has successfully concluded the third leg of its SME Development Training Roadshow, held in Nizwa from 17 to 18 June, 2025. Organized in collaboration with SME Development Authority and Oman Chamber of Commerce and Industry in Nizwa, under the Bank's flagship Tumouhi initiative, the event drew wide participation from aspiring entrepreneurs and small business owners in Al Dakhiliyah, continuing a nationwide mission to support and empower Oman's growing SME sector. The event was held under the auspices of H.E Sheikh Dr. Faisal bin Ali bin Rashid Al Zidi (Wali of Manah). Following successful workshops in Muscat and Sohar earlier this year, the Nizwa event brought together a dynamic mix of sessions covering financial literacy, business strategy, marketing, and HR fundamentals. Designed to offer hands-on learning and real-world insights, the two-day workshop also served as a vibrant networking hub for local entrepreneurs and industry experts. H.E Sheikh Dr. Faisal Al Zidi expressed his enthusiasm towards this initiative in supporting the SME sector, praising the government's steadfast approach and the great attention it pays to this vital sector, given its pivotal role in supporting the growth of the economy and enhancing its diversity. He emphasized that supporting entrepreneurs and emerging business owners contributes to creating new job opportunities and enhancing local innovation. H.E Sheikh Dr Faisal Al Zidi stated, "This workshop is a true turning point for entrepreneurs. They would walk in with ideas, and leave with a plan, equipped with the confidence to take their businesses to the next level. The sessions were practical, relevant, and exactly what small business owners and entrepreneurs would need." Sulaiman Al Hinai, Chief Wholesale Banking Officer at Oman Arab Bank, commented on the roadshow's continued momentum, "At Oman Arab Bank, we view SMEs as key drivers of economic resilience and innovation. Through Tumouhi, we're not just delivering training — we're creating access, building networks, and empowering business owners in every corner of the Sultanate. The response in Nizwa has been incredibly encouraging, and we remain committed to reaching even more regions with the tools and support SMEs need to thrive." The Tumouhi Roadshow is part of OAB's long-term strategy to promote financial inclusion, empower local talent, and align with the goals of Oman Vision 2040. By providing practical tools and strategic guidance, OAB aims to equip SMEs with the foundations to grow, innovate, and contribute meaningfully to the national economy. The Bank has confirmed that future roadshows are in the pipeline, with a commitment to covering all regions across the Sultanate in the months ahead.
