Oman Banks Association (OBA) is a non-profit professional association created to represent the banking sector, to promote Omani banking activities, coordinate with the Regulators on matters of policy and strategy, and to support banking excellence in Oman. The Association was formed based on the Ministry of Social Development’s approval number 113/2014, dated 21st May, 2014.
The OBA Board of Directors (BoD) comprises of 12 members, representing member banks.
The BoD meets every quarter. Minutes of the meetings are circulated to member banks, the Central Bank of Oman, and the Ministry of Social Development.The current Chairman of the BoD is Mr. Abdul Hakeem Al Ojaili, Chief Executive Officer, Bank Dhofar.
OBA has 8 Specialised Committees that meet on a regular basis, discuss matters of common interest to the Omani banking industry, and put forward their recommendations. Minutes of the various Committees are presented to both the Executive Committee, and the Board of Directors. Each of the Committees have a rotating Chairman, Vice Chairman, and Secretary.
OBA is proud to support Small, and Medium Enterprise (SME), by awarding services, and supplier contracts to Omani SMEs so to encourage, and promote this vital segment of the Economy.
Protect the reputation of the banking sector through working with the Central Bank and all banks.
Seek to apply full transparency through the application of domestic and international banking rules in cooperation with the Central Bank and all banks to present the position of the Sultanate as a regional and global financial hub.
Promote the activities of banks in Oman at the local and international levels.
Coordinate with the Central Bank and other bodies on matters relating to legislation, regulations, and banking policies and promote the best practices within the banking sector.
Support training and vocational qualification programs in the banking sector.
Work as a meeting point and a channel of communication among Licensees and other parties on matters and issues of concern to the banking sector.
Develop strategies and initiatives towards the development of the status of the Sultanate and its reputation in the banking sector on the global level.
Strengthen the links between executives in the banking sector through the formation of specialized committees, membership of stakeholders and specializations of various banks.
Coordinate with the Central Bank and all banks to develop a Code of Best Practices on Credit Facilities granted to clients and bank charges to ensure conformity with the interests of banks clients.