Reinforcing its leadership in innovation and advanced financial solutions, Oman Arab Bank (OAB) played a key role in collaboration with the Financial Services Authority (FSA) to launch five digital trading platforms for licensed brokerage firms on the Muscat Stock Exchange (MSX).
These platforms are part of broader financial sustainability initiatives aimed at facilitating and stimulating investment, driving comprehensive digital transformation in the Omani capital market, and expanding investor access to local markets.
Through this strategic partnership, OAB continues to play a leading role in fostering financial sector growth and promoting investment in the capital market. Recently, the bank introduced a suite of advanced digital services, including collection solutions via virtual accounts, which enable clients to manage cash flows more efficiently by opening virtual accounts. These solutions enhance transparency, simplify the tracking of outstanding amounts for each project or product, and significantly streamline financial transactions among institutions operating in the financial sector.
Commenting on this initiative, Sulaiman Al Harthi, CEO of OAB, stated: “The launch of digital trading platforms aligns with evolving regulatory requirements in modern financial markets, aiming to enhance service quality, ensure data protection, and promote transparency. At OAB, we are committed to leading the way in financial service development and introducing initiatives that build investor confidence. Our collection solutions via virtual accounts represent a major advancement in electronic connectivity between financial institutions, strengthening financial inclusion and improving the investment landscape in Oman.”
He further highlighted: “These virtual solutions are among the most advanced of their kind, empowering clients to manage cash flows more effectively. They facilitate seamless transactions, including investment procedures and financial transfers for buying and selling securities, securely and effortlessly between OAB clientsโ bank accounts and their investment portfolios on the MSX.”
Al Harthi also emphasized OABโs commitment to expanding strategic partnerships to drive financial sector growth in line with Oman Vision 2040. The bank recently organized a dedicated training workshop for brokerage firms in collaboration with FSA, providing them with insights into virtual account collection solutions. This initiative enhances companiesโ understanding of this innovative technology, accelerating its adoption across the financial sector, attracting new investor segments, increasing trading volumes on the MSX, and reinforcing oversight and investor protection.
As a distinguished banking institution in Oman, OAB remains at the forefront of financial innovation, delivering cutting-edge banking solutions while actively contributing to the growth of the financial sector. The bank has also been instrumental in supporting efforts to upgrade the MSX to an emerging market. Notably, OAB was among the first to introduce a liquidity provider service for its listed shares on the MSX through a strategic partnership with Ubhar Capital.
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