Muscat – Oman Arab Bank (OAB) and Al Izz Islamic Bank (AIB) held a joint board meeting, attended by chairpersons and board members of both banks. The meeting was a platform for aligning strategic objectives, risk governance frameworks, and corporate governance principles.
Rashad bin Muhammad Al-Zubair, Chairman of Oman Arab Bank, said, “This joint Board Meeting holds significant importance in setting the tone and initiating crucial actions. We are confident that it will pave the way for both banks to align with a shared vision and common objectives of unlocking synergies, promoting coordination, aligning strategies, improving governance and exploring avenues for growth.”
Yahya bin Said Al Jabri, Chairman of Al Izz Islamic Bank, added, "These meetings represents a significant step in our joint journey. We delved into various challenges and opportunities, focusing on aligning our strategic goals and corporate values. Our united efforts are aimed at enhancing the success of both institutions, ultimately enriching the financial services landscape and offering better value to our stakeholders."
The meeting addressed several key areas, including a thorough analysis of strategic objectives, risk governance, corporate values, and governance principles. Additional discussions spanned current challenges, potential business opportunities, and strategies for shared success.
A cybersecurity training session, led by an industry expert, followed the meeting. The training aimed to elevate the board directors' and senior management's understanding of current cyber threats and mitigation strategies, reflecting the banks' commitment to proactively addressing data protection and cybersecurity challenges.
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