Muscat:  Under the umbrella of its innovation pillar, Oman Arab Bank (OAB) hosted its first ever Innovation Hub earlier in the year with over 320 students, FinTechs and employees participating to create an innovative proof of concept. Following the 24-hour pressure-cooker event, ten student participants had gone on to join OAB as interns. These bright students have now graduated from the Bank’s intensive six-month innovation internship programme. 

They were each handed their certificates at a dedicated graduation ceremony, organised by the Bank on Sunday, 15 September, at Fraser Suites Hotel and presided over by CEO, Rashad Al Musafir. Also in attendance at the event were Leen Khattar Al Atassi, Head of Innovation, together with other senior members of management and staff at OAB.

Commenting on the performance of the graduates, Rashad Al Musafir said, “It has been a pleasure to have each of these ten interns with us over these past six months. They are all truly impressive individuals who have proven themselves to be hardworking and dedicated. They have consistently surprised us with their innovative concepts and ideas as well as their ability to think outside of the box, by coming up with clever solutions to persistent problems. I can say with confidence that each of these interns have graduated from the programme having experienced significant transformation at both a professional and personal level and most definitely have very bright futures ahead of them.”

Earlier this year, OAB held the first edition of its Innovation Hub, a 24-hr hackathon where over 300 participants including students, local and global FinTech companies and OAB’s employees competed to create innovative prototypes in a sandbox environment around current industry themes. Following the OAB Innovation Hub, ten students were selected to join OAB’s Innovation Programme, which included a six-month internship and one-to-one mentoring for the students.

As part of its innovation road map, OAB is currently in the process of setting up a first-of-its-kind Innovation Lab in Oman. When completed the OAB Innovation Lab will provide access to one-to-one mentoring, specialised workshops, and industry experts for local students, OAB staff as well as local, regional, and international FinTech companies. 

“The first Innovation Hub was only the beginning. With next year’s event set to be even larger and with our Innovation Lab on the verge of being completed, OAB is well on its way towards establishing itself as the centre for innovation and innovative thinking in the Sultanate,” added Leen Al Atassi.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the Bank operates a nationwide network of 65 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking and investment clients.

-End-

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.