Full Form of OAB
Oman Arab Bank
OAB Full Form is Oman Arab Bank. OAB is basically a bank located in Oman. This bank is owned jointly by the ABG or the Arab Bank Group, which owns forty-nine percent of the bank, and Ominvest, which owns fifty-one percent of the bank. In Omen, it is the 3rd largest bank in accordance with the net profit in the year 2011. There are more than sixty offices and branches of this bank across Oman. The branches of Arab Bank began their operation in Omen in the year 1973.
A fifty-one percent stake of operations of the Arab Bank in Oman was acquired by Ominvest. This created the Oman Arab Bank. After Omani European Bank was acquired in the year 1992, the Oman Arab Bank was further expanded. The sectors on which the Oman Arab Bank has its main operations are Islamic finance, investment banking, and retail. The IMG or Investment Management Group is created to handle the investment banking of the Oman Arab Bank.
The IMG deals with services in research, asset management, and brokerage and issue management. The establishment of the Islamic banking Arm was done in the year 2013 in Al Yusur. The APTRA Activate of the NCR Corporation has been adopted by the Oman Arab Bank for online banking platforms, mobile platform and ATMs in the year 2015. Ominvest announced in the year 2014 that it was researching an initial public offerings’ feasibility of the shares of Oman Arab Bank. The plans were cancelled later because of the unfavourable conditions of the market.