Muscat: Oman Arab Bank (OAB) has filed a criminal complaint on account of suspicious embezzlement and forgery before the Department of Combatting Economic Crimes at the Royal Oman Police (ROP).
The Bank reported that the suspected embezzlement and forgery of approximately RO6 million is being investigated by the competent authorities in order to “undertake all necessary legal proceedings in accordance with applicable rules and regulations”.
A statement issued by the Bank to the Muscat Securities Market (MSM) read: “In furtherance to Article 291 and subsequent articles of Capital Market Executive Regulation issued by the virtue of Capital Market Authority decision No 1/2009 as amended, the Bank hereby states that it has filed a criminal complaint before the Department for Combating Economic Crimes at the ROP for suspicion of forgery and embezzlement of approximately six million Omani Rials. (OMR 6,000,000).”
In line with their obligations to maintain confidentiality during investigations, the Bank stated that it will only disclose further information as the case proceeds and the investigation evolves.
The statement then assured customers saying: “The Bank further advises that this occurrence will not have any impact on the Bank’s customers, and assures the public that the Bank’s internal committees are handling this matter with the utmost level of seriousness and professionalism to safeguard the interests of parties dealing with the bank.
“In the interim, the Bank has notified the insurance companies and will pursue all options available to recover the amount.”
