Bank Muscat appoints new CEO

MUSCAT: Bank Muscat’s Board of Directors announced the appointment of Sheikh Waleed K. Al Hashar as Chief Executive Officer of the bank commencing January 1, 2019. This comes in line with the Senior Management Succession Plan endorsed by the Board in 2015. Mr. AbdulRazak Ali Issa, current Chief Executive and Mr. Ahmed Al Abri, Chief Operating Officer will retire from their positions on December 31, 2018 after more than 30 years of service with the bank. Mr. AbdulRazak Ali Issa and the Executive Management will oversee the completion of the transition in the upcoming months.

Sheikh Khalid bin Mustahail Al Mashani, Chairman, Bank Muscat, on behalf of the Board of Directors expressed his sincere gratitude and appreciation to Mr. AbdulRazak Ali Issa and Mr. Ahmed Al Abri for their outstanding contributions towards the bank's success and position as the leading bank in Oman.  “The Board would also like to express its great confidence in the capabilities and expertise of the new Chief Executive Officer and the Management Team to maintain the bank’s position as the flagship financial services provider in the Sultanate.“ Sheikh Khalid Added. The Board of Directors has also approved a revised organizational structure in line with its Strategic Plan and trust in Omani potential and capabilities. The appointment of the new Chief Executive Officer and organizational structure are subject to Central Bank of Oman approval.

AbdulRazak Ali Issa, Chief Executive, Bank Muscat, has expressed his appreciation to the Board of Directors for their continues support to him personally and the Executive Management in the last few years. AbdulRazak, added, “The bank’s achievements and successes contributing to the national economy and society are attributable to the efforts and skills of employees who serve with a sense of belonging to the institution as one family. The bank has been working on plans to develop Omani cadres and provide them with opportunities to take several responsibilities to prepare them to commence higher roles in the coming future. The bank today has competent and qualified young Omani cadres in Executive Management that can lead the bank to accomplish more achievements that will enhance the bank’s position in the financial sector,  wishing Waleed Al Hashar, the Management Team and the employees all the success during the next stage”

On this occasion, Sheikh Waleed bin Khamis Al Hashar expressed his thanks and gratitude to the Board of Directors and the Executive Management for their trust and support stressing the current executive management made great efforts during the past years and achieved many successes and achievements that we are proud of and praised by everyone. Sheikh Waleed added, “We will continue the successful journey achieving more growth and progress in all areas, to maintain the achievements of the past years by exerting more efforts, and enhancing cooperation with various economic sectors”.

Sheikh Waleed Al Hashar, explained that the new organizational structure is a new stage and an important milestone in Bank Muscat’s march. It is also an incentive for all employees to work with every effort and dedication to the continuation of the Bank as a leading financial institution in the Sultanate that provides value added services to customers, shareholders and the Omani community in general.

Sheikh Waleed Al Hashar is Deputy Chief Executive Officer at Bank Muscat. He is also a member of the Board of Directors of Oman Tourism Development Co (Omran) SAOC, the Oman Center for Governance and Sustainability, The College of Banking and Financial Studies and the Oman Banks Association. Al Hashar has over 26 years’ experience in Banking as well as the Oil and Gas sectors. Before joining Bank Muscat, he held senior positions in a number of firms in these sectors. He holds a postgraduate diploma in General Management from Harvard Business School and also holds a BSC and Masters in Business Administration from California State University in Sacramento, USA.

Bank Muscat has the distinction of outstanding leadership at all levels and has achieved 94.57 per cent Omanisation, giving priority for Omanis to occupy key positions. The Bank’s human resources strategy is notable in maintaining gender diversity as 48 per cent of employees are women holding various positions, including senior management positions.