The establishment of Oman Development Bank goes back to the year 1976  when the first specialised development bank in the Sultanate was inaugurated by  Royal Decree No. 31/76 under the name Development Bank of Oman to effectively contribute to economic and social development.  In 1977, the practical operation of bank activities in the sectors of industry, agriculture & fisheries, and oil & mining began. In 1981, a specialised bank for agriculture and fisheries was established by Royal Decree No. 50/81 under the name Oman Bank for Agriculture and Fisheries.

In 1977, Royal Decree No. 18/97 was promulgated, establishing Oman Development Bank to exercise the function and authorities prescribed for Development Bank of Oman and Oman Bank for Agriculture and Fisheries. 

With a capital of R.O. 20 million, the bank witnessed a new phase during which it specialised in financing small and medium projects in all development sectors under one umbrella, offering soft loans and interest rates not exceeding 3% while providing interest-free loans up to R.O. 5000/- to small investors and craftsmen.

In 2006, Royal Decree No. 18/206 was promulgated to amend Royal Decree No. 18/97 and its supplements.  In this, the bank capital was raised to R.O. 40 million, and the lending ceiling was increased to a maximum of R.O. one million per loan.  In addition to the supported lending areas which cover the various investment sectors,loans.
the bank was allowed, for the first, time to finance working capital with unsupported Through financing the various development sectors, the bank effectively contributed to the development of the economic and industrial sectors in the Sultanate, especially the sectors classified as medium and small projects which are widespread in various regions in the Sultanate.  With a close view on successful projects that represent areas of concern in the industrial, tourism, medical, and other sectors, the bank assumed a significant role in such successes.

In June 2009 the bank capital was raised to R.O. 58 million .

The bank greatly and clearly contributed to the creation of employment opportunities and to the success of such projects in the Sultanate through financing, technical support, and the expertise of its staff.

The bank continues in the development of its projects and the improvement of its service levels, utilizing similar experiences in the different developed countries adapted to the Omani economy.

Chairman:

H.E. ِAl Shaikh Alfadel Bin Mohammad Bin Ahmed Al Harthi

Deputy Chairman:

Mr. Hosni bin Fuad bin Abdullah Tubailah
Representative of Ministry of Finance

Dr. Abdullah bin Ali bin Ahmed Al Mawali
Representative of Ministry of Agriculture and Fisheries

Mr. Sabir bin Said bin Rashid Al Harbi
Representative of Ministry of National Economy

Al Shaikh. Dr Abdullah bin Ali bin Zaher Al Hinai
Representative of Ministry Commerce and Industry

Office of the Board                                          

Senior Manager Chairman's Office: Mr. Essa Ali Al-Sabagh