Oman Development Bank opens new branch in Musannah
Date Posted : Thursday, February 04, 2010
Source : ODB

Oman Development Bank’s new branch at Musannah was recently inaugurated by Mr. Hosni bin Fuad bin Abdullah Tubailah, Representative of Ministry of Finance and Deputy Chairman of Board of Directors of Oman Development Bank (ODB). Ahmed bin Said Al Hinai, Branch Manager of Musannah branch of ODB, in his opening remarks said Musannah branch was a result of a merger between Barka and Rustaq branches. He said Musannah branch will serve as a focal point for rest of the five wilayats covered by bank, including Barka, Suwaiq, Rustaq, Nakhl and Awabi. “The branch presents its facilities and services to local investors in all economic sectors such as agriculture, fisheries and livestock, workshops, industrial, tourism and education,” Ahmed said. Stating that ODB spares no effort in continuing its development efforts, its products and services to achieve the development objectives to match the development plans in the Sultanate, he said: “The bank has already introduced new products during the past year such as the operating loans (or the working capital), and the saving deposits (Izdihar), which seeks to cultivate a culture of saving among small investors, particularly other sectors in society. Their savings contribute to the development of many projects by developmental financing, which creates job opportunities for the Omani youth and provides new quality products.” Ahmed said: “ODB provides its services through branches in all parts of the Sultanate, with a total number of 14 branches and two regional branches, one in Sohar and the other in Ibra.” He added that the bank copes with the changes and requirements of the national economy, keeping pace with the development plans of the Sultanate. “For this, ODB will be there in line with all the aspirations of the Omani investors, big and small, in order to create successful economic development projects that strengthen the capacities and possibilities of the national economy,” he added.