How to open a bank account in Oman Arab Bank (OAB)

• founded in 1984, a commercial bank of Oman;
• the bank opens savings (deposit) and current accounts;
• the bank opens accounts only for companies registered in Oman, personal accounts are also opened only for residents of Oman;
• to open an account for a foreign company will require the opening of a branch in Oman;
• initial deposit for corporate accounts – OMR 200 (~ USD 520) and OMR 50 000 (~ USD 130 000) for personal accounts; for personal accounts: OMR 1 000 (~USD 2 600) and OMR 35 000 (~ USD 91 000) respectively;
• personal visit of founders and account signatory in Oman is required for account opening;
• basic available currencies: OMR, USD, EUR, AED, but it is necessary to open account in local currency first;
• credit and debit bank cards are available, as well as checkbooks;
• pre-approval is possible before the account opening process;
• transfer fee to a foreign bank is ~ OMR 5,25* (~ USD 14);
• Internet Bank in English;
• time of account opening: about 1-2 weeks

*Rates are approximate as they may eventually vary depending on the service program chosen by the client in the bank