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Oman: OAB unveils capital boost to power SME growth and digital innovation
Oman: OAB unveils capital boost to power SME growth and digital innovation

Zawya

time25-06-2025

  • 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. (

Oman Arab Bank announces increase of authorised capital to OMR 500mln
Oman Arab Bank announces increase of authorised capital to OMR 500mln

Zawya

time25-06-2025

  • 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:

OAB's Tumouhi initiative hits the road with SME development workshops across Oman
OAB's Tumouhi initiative hits the road with SME development workshops across Oman

Zawya

time15-06-2025

  • Business
  • Zawya

OAB's Tumouhi initiative hits the road with SME development workshops across Oman

Muscat: Oman Arab Bank (OAB) has announced the launch of its SME Development Training Roadshow, a dynamic two-day program set to take place in Nizwa from June 17 to 18 under the patronage of H.E. Sheikh Dr. Faisal bin Ali bin Rashid Al Zidi; Wali of Manah. Held under the umbrella of the Bank's Tumouhi initiative, the roadshow is tailored to equip small and medium enterprise (SME) owners with essential business skills, financial knowledge, and networking opportunities to fuel their growth. Most notably, this is the third workshop after the Muscat and Sohar events, with the bank's aim to continue to cover all regions in the Sultanate of Oman. The workshop will be hosted at the Oman Chamber of Commerce and Industry Hall in Nizwa and is open to SME owners and aspiring entrepreneurs across the Sultanate. With a comprehensive agenda covering financial literacy, strategic planning, human resources, and marketing, participants will gain hands-on insights to help scale their ventures. Commenting on the initiative, Sulaiman Al Harthi, CEO of Oman Arab Bank, said, "At Oman Arab Bank, we believe SMEs are the backbone of our economy. Through the Tumouhi initiative, we are committed to empowering entrepreneurs with the skills and tools they need to thrive. The roadshow ascends being a mere training program. Truly, it is a platform for inspiration, connection, and sustainable growth." The Tumouhi SME Roadshow reflects OAB's broader commitment to national economic development through targeted support for small businesses. The initiative also aligns with Oman Vision 2040 by fostering a resilient private sector powered by innovation, inclusion, and enterprise. Interested participants can register via the official OAB website. Seats are limited and early registration is encouraged.

Oman Arab Bank Wins Top Cybersecurity Honor Cybersecurity & Risk Excellence at MEA Finance Awards - Middle East Business News and Information
Oman Arab Bank Wins Top Cybersecurity Honor Cybersecurity & Risk Excellence at MEA Finance Awards - Middle East Business News and Information

Mid East Info

time21-05-2025

  • Business
  • Mid East Info

Oman Arab Bank Wins Top Cybersecurity Honor Cybersecurity & Risk Excellence at MEA Finance Awards - Middle East Business News and Information

Muscat, Oman. 21 May 2025. Oman Arab Bank (OAB) has been awarded Best Cybersecurity and Risk Management Implementation in Oman by MEA Finance at the 2025 Banking Technology Awards. The award recognizes the Bank's outstanding achievements in securing its digital operations while meeting the highest standards of regulatory compliance and customer trust. At the core of this achievement, OAB ensures that its cybersecurity practices are not only robust but fully compliant with national governance frameworks. Through its risk-aware security architecture, the Bank dynamically monitors, assesses, and mitigates cyber risks in real time — demonstrating operational integrity across all channels. In recent years, OAB has implemented an advanced threat detection and response platform with extended detection and response (XDR) and security orchestration, automation, and response (SOAR) capabilities. This has enhanced the Bank's ability to identify threats in real-time, analyze security events across multiple layers, and respond more effectively to incidents. Additionally, participation in a global vulnerability research initiative has further reinforced the Bank's defenses against advanced persistent threats and zero-day vulnerabilities. These technology investments have yielded measurable results, with the Bank achieving its lowest-ever Cyber Risk Exposure Management (CREM) percentage. This translates to fewer incidents, faster response times, and consistent success in cybersecurity audits. Beyond technology, Oman Arab Bank continues to foster a cyber-resilient culture through targeted staff training, phishing simulations, and executive-level cybersecurity drills, reinforcing the human layer of defense and building long-term organizational resilience. Mr Sulaiman Al Harthi, Chief Executive Officer of Oman Arab Bank, commented: 'Cybersecurity and risk resilience are no longer back-office functions — they are central to building customer trust and ensuring sustainable growth. This award is a reflection of our technology investment, and also a shared mindset across the Bank that prioritizes vigilance, accountability, and innovation.' The award enhances OAB's competitive edge, increases media visibility, and supports its mission to attract top talent in banking and cybersecurity. Internally, the recognition energizes teams and affirms the Bank's commitment to being a secure, forward-looking institution in Oman.

OAB Celebrates Omani Achievements at Special Olympics World Winter Games Turin 2025 - Middle East Business News and Information
OAB Celebrates Omani Achievements at Special Olympics World Winter Games Turin 2025 - Middle East Business News and Information

Mid East Info

time08-05-2025

  • Business
  • Mid East Info

OAB Celebrates Omani Achievements at Special Olympics World Winter Games Turin 2025 - Middle East Business News and Information

Muscat, Oman – 8 May 2025: Oman Arab Bank (OAB) is pleased to be part of the Special Olympics World Winter Games – Turin 2025, supporting the participation of Special Olympics Oman in this global event that celebrates strength, determination, and excellence. This cooperation comes within the bank's steadfast commitment to Corporate Social Responsibility (CSR) and supporting members of the community. It aims to empower the Omani champions as they represent the Sultanate and achieve accomplishments on the international stage. This stems from the bank's belief that sports have the potential to enable individuals to overcome challenges, and it is proud to have been part of their inspiring journey. This year's Games saw six determined champions from Oman representing the Sultanate in snowshoeing, cross-country skiing, and short track speed skating. Together, they brought home an impressive total of seven medals, including gold, silver, and bronze — a proud moment for the Sultanate of Oman and a testament to the spirit of perseverance. Commenting on OAB's support for the Special Olympics, Mr. Sulaiman Al Harthi, CEO of Oman Arab Bank, said: 'At Oman Arab Bank, we believe in the power of inclusion and the importance of creating spaces where every individual can thrive. Supporting the Special Olympics is not just about sport — it's about values. It's about determination, equality, and celebrating the human spirit. We are incredibly proud of our Omani athletes and honored to play a role in their journey.' Oman Arab Bank's support contributed to enabling the Omani team's participation in the Special Olympics World Winter Games by providing the necessary resources, reflecting the bank's ongoing commitment to supporting Special Olympics programs in the Sultanate of Oman. The Special Olympics World Winter Games Turin 2025 brought together thousands of athletes from across the globe in a shared vision of unity and possibility. Oman Arab Bank is proud to have stood behind Oman's champions, reinforcing its promise to support initiatives that make a lasting impact.

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