MUSCAT -- Expanding its range of banking products and services, Oman Arab Bank (OAB) has launched its Bancassurance services. Towards this end, OAB has signed an agreement with American Life Insurance Co (ALICO), one of the largest insurance companies in the world, to provide a complete range of insurance products and services under the brand name 'Dhaman', right at the bank itself.
OAB will act as an agent for marketing and distributing various insurance products to its customers. A dedicated team from ALICO has helped in training OAB staff and setting up systems and procedures for their operation. In the first phase of the launch, insurance products and services such as Savings Plan, Education Plan, Retirement Plan, Medical Coverage, Lifetime Income Protection for Your Family, Travel Insurance Plan and Personal Accident Coverage will be provided at OAB branches at Ruwi, Al Khuwair and Qurum.
Bishara Qafiti, DGM, Retail Banking & Operations, said, "We at Oman Arab Bank have always been committed to offering the best of products and services. We were the first to introduce e-banking services such as FastBank and SmartCard. The signing of the agreement with ALICO is yet another step forward in our dedicated services to our customers."
By Staff Reporter
© Oman Daily Observer 2006
