The board of directors of Oman Arab Bank, a subsidiary of Oman International Development and Investment Company (Ominvest), has appointed Amin Rasheed Al Husseini as chief executive officer of the bank, who will start his duties with effect from February 2, 2014.
The bank has received approval from the Central Bank of Oman, said Ominvest in a disclosure statement posted on MSM website.
The bank appointed the new chief executive officer, after Abdul Kader Askalan resigned from his position last month. Askalan has served the bank as its CEO for several years.
Oman Arab Bank posted a profit of OMR18.65 million for the first nine months of 2013, compared to OMR19.62 million for the same period of the previous year. Gross loans and advances at OMR1.17 billion increased by 26 per cent and customers' deposits at OMR1.08 billion were up by 14 per cent.
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