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Oman Arab Bank signs pact with IDO Invest. to foster FinTech

Tuesday, 07 16 2019, Category: Banking, Country: Oman
Oman Arab Bank (OAB) announced that it has recently signed a Memorandum of Understanding (MoU) with Innovation Development Oman Holding (IDO Investments), in order to identify and explore potential opportunities for FinTech innovations to be implemented in Oman.

The new strategic partnership will also facilitate the development of an innovation eco-system for entrepreneurship in Oman.

The signing of the MoU took place at the OAB Headquarters on July 10, 2019, with IDO Investments being represented by its Senior Investment Manager, Talal Hasan, and OAB being represented by Al Salt Al Kharusi, General Manager - Head of the Corporate and Institutional Banking Group and Leen Al Atassi, Head of Innovation. Also in attendance were several executives and members of senior management from both institutions.

Al Salt Al Kharusi said, “At OAB we are focused on driving innovation forward by collaborating with private and public sectors as well as leading international institutions to create value to our community, customers, employees and all our key stakeholders. To this end, IDO Investments will play a key role in connecting us with global FinTech communities that are looking to scale their solutions in Oman, and to extend their support to our ecosystem as we introduce our first-of-its-kind innovation lab in Oman.”

Source: Times of Oman
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