Banking & Finance
Development Bank Appoints New CEO

Muscat: Development Bank has announced the appointment of Hussein bin Ali Al Lawati as its new CEO, effective from Sunday, 25 February 2024.
Al Lawati brings with him over 18 years of experience in the banking and finance sector with expertise in planning, innovation, growth and strategic partnerships. His most recent role was as the Chief Executive Officer of Muscat Finance Company. Prior to that, Al Lawati held senior management positions at Bank Dhofar, serving as Deputy General Manager and Chief Corporate Banking Officer. In these roles, he managed substantial assets and fostered strong relationships with partners and customers.
In response to the new appointment, Eng. Mohamed bin Abu Bakr Al Ghassani, Chairman, Development Bank, highlighted Al Lawati’s extensive banking experience, particularly in project finance, asset management and corporate transition. Eng. Al Ghassani emphasized Al Lawati has the depth of experience to lead Development Bank during a period of breakthrough in finance, management and operations. The Board conveyed their trust in Al Lawati and underlined their confidence in his ability to lead the bank at this important time.
Noting the significant trust placed in the bank by His Majesty Sultan Haitham bin Tariq, Al Lawati thanked the Board for their confidence and expressed his absolute commitment to the bank’s goals and objectives as well as to the ambitions of Oman Vision 2040. In this regard, he highlighted in particular the importance of increasing lending activity and diversifying financial services in alignment with the objectives defined in Royal Decree No. 84/2023 as Development Bank builds on its 47-year track record of success and leverages the considerable experience and expertise of its staff.
-
Banking & Finance2 months ago
Oman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Bahrain2 months ago
SPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines2 months ago
OER, June 25
-
Energy2 months ago
Russian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Alamaliktistaad Magazines2 months ago
Al-Iktisaad, June 25
-
Technology2 months ago
SPIEF 2025 showcases cutting-edge technologies and digital innovation through its Innovation Space initiative
-
Energy2 months ago
The year 2025 is a special year for Oman and Russia as it marks 40 years of diplomatic relations between the two countries says HE Sergey Tsivilyov, Energy Minister of Russia