OAB partners with OUE for affordable remittances
Oman Arab Bank (OAB), one of the first banks to be established in the sultanate, recently signed a new partnership with Oman United Exchange Company (OUE) to make it even more convenient for customers to transfer remittances abroad for lower services fees. The signing ceremony for the partnership was held at the OAB head office. Representing OAB at the ceremony was Rashad al Shaikh, DGM Retail Banking, while Syed Faraz Ahmed, general manager, represented the exchange company.
The partnership will enable OAB customers to make international transfers to India, Pakistan, Sri Lanka, Bangladesh, the Philippines and Egypt, at a discounted rate of just RO1.500 at any OUE location by using their debit cards at the POS machines installed at each outlet. Furthermore, all POS charges at the branches will be waived for OAB customers.
Shaikh said, “Our collaboration with OUE allows us to forge a mutually beneficial strategic partnership between our two institutions. It is also in line with the strategy of the bank in aiming to reach out to a broader client base, offering them flexible, innovative and cost-effective financial solutions specially designed to cater to their specific needs.”
“As with OAB, we are always on the lookout for opportunities to make our services readily available to a broader spectrum of our customer base, while at the same time making our services even more affordable. This partnership has enabled us achieve exactly this, allowing us to offer bank transfers to the most commonly used countries at a rate unmatched by the market,” added Ahmed.
“The ability to transfer money directly from POS machines located at OUE sites at special rates exclusive to our customers will offer them great value. It will also provide them with a total peace of mind by not having them worry about withdrawing or carrying large sums of cash from location to location. As such, I am that confident this partnership will be a value addition to the services offered by both OAB and OUE,” added Rashad.
Additional information can also be obtained at each of the seven OUE branches.