As a testament to its efforts to support local communities, Oman Arab Bank (OAB) was recently honored by the Ministry of Social Development (MoSD) with an award for corporate social responsibility.
Held under the patronage of His Highness Sayyid Kamil bin Fahd Al Said and HE Laila Ahmed Al Najjar, Minister of Social Development, the ceremony took place at the Avani Muscat Hotel. It was attended by a number of ministers, undersecretaries and senior officials from the public and private sectors.
Commenting on the achievement of the Bank, Mr. Rashad bin Muhammad Al Zubair, Chairman of ATO said; “We are delighted to be recognized for our corporate commitment and our social involvement in the service of Oman and its people. We continue to work with local partners and charities to ensure that as many people as possible in the communities where we live and work are supported. Our goal is to grow and mature alongside our employees, customers and community through sustainable practices. Receiving this award is a testament to our work to support Oman’s 2040 vision and socio-economic agenda. »
Last year, the bank supported low-income families whose homes were destroyed by the storm that hit North Batinah Governorate. This social initiative was carried out in collaboration with the Ministry of Social Development and a number of small and medium enterprises. The initiative has provided support to families in the governorate by repairing their homes in partnership with reputable local construction companies.
OAB’s sustainability strategy has been designed to strengthen the Bank’s social impact within its three main strategic pillars: community partnerships, environmental responsibility and financial inclusion.
In line with the Bank’s Community Partnerships Sustainability Pillar, the Bank has donated OMR 300,000 to support those affected by ‘Cyclone Shaheen’ which hit the Sultanate last year. In addition, several Bank employees have volunteered to help clean up and rebuild affected homes and neighborhoods in the Wilayats of Al Khaboura and Al Suwaiq. The Bank has also launched an internal initiative to support employees affected by the cyclone. Additionally, the Bank has launched a donation feature through its mobile banking app to create a simple and secure platform for donors to contribute.
Seeking to preserve the environment and promote sustainability, OAB collaborated with 12 talented Omani photographers to produce the Bank’s first eco-friendly desk calendar made entirely from recycled paper and vegetable-based ink. The bank has also sought to reduce its carbon footprint by introducing recycling and eliminating single-use plastic bottles. The Bank has also conducted several awareness campaigns on environmental responsibility highlighting a variety of native flora and fauna that may be at risk and shared tips to encourage a more environmentally friendly lifestyle. For the second time, the bank also sponsored the Environment Society of Oman’s virtual fundraiser.
As part of its financial inclusion efforts, the Bank recently launched a financial literacy video series. The initiative aims to equip young Omanis with the necessary financial skills and knowledge to enable them to make informed financial decisions. The videos highlight topics such as buying a car, buying a house, getting married, saving, and running a business.