Privacy Policy
Welcome to Oman Investment Bank’s Data Privacy and Protection page
At Oman Investment Bank (OIB), we are dedicated to safeguarding the privacy and security of your personal information. This page outlines our practices for collecting, using, and protecting your data, ensuring compliance with applicable laws and regulations.
Our Commitment to Privacy
Oman Investment Bank (OIB) is steadfast in maintaining the trust and confidence of our clients. We adhere to high standards of data privacy and security to protect your personal and sensitive information against unauthorized access, disclosure, alteration, and destruction.
Key Privacy Principles
Transparency and Lawful Use:
We strive to ensure that your data is processed lawfully, fairly, and transparently. You will be informed about the purpose, scope, and duration of data processing at the time of collection. Your data is only processed for legitimate purposes such as providing banking services, enhancing our offerings, and complying with legal obligations.
Fair Processing and Defined Objectives:
We carry out data processing activities without any form of coercion. You have the right to know how and why your data is being used. Data is collected only for clearly defined objectives, which are communicated to you. Your data will not be used for purposes incompatible with the original intent unless additional consent is obtained.
Data Minimization and Use Consistency:
We collect only the essential information needed to fulfill the stated purposes. We regularly review our data collection practices to ensure they comply with the latest legal standards and minimize data exposure risks.
Accuracy and User Responsibility:
We strive to keep your personal data accurate and up-to-date. We will take reasonable steps to update or correct your information if inaccuracies are identified by you. We encourage you to immediately notify us of any changes to your personal information to help maintain accurate records.
Storage Limitation and Secure Deletion:
Your data will be retained only as long as necessary to fulfill the purposes for which it was collected. Once data is no longer needed, it will be securely deleted or anonymized in accordance with applicable regulations.
Integrity and Confidentiality:
We implement security measures to protect your data from unauthorized access, disclosure, alteration, and destruction. Our systems and processes are designed to protect your data at all times using appropriate technical and organizational measures. Access to your data is limited to authorized personnel with a legitimate need.
Third-Party Service Providers:
We ensure that any third parties who handle your data adhere to similar data protection standards through contractual obligations. This guarantees that your data is protected consistently, even when processed by external partners.
Your Rights
Access and Correction:
You have the right to access the personal information we hold about you and to request corrections if any information is inaccurate or incomplete. To exercise this right, please contact Client Services through the channels stated below. We are committed to providing you with a copy of your data in a clear and understandable format, either electronically or in hard copy, within a reasonable timeframe. We will promptly rectify any inaccuracies and update our records.
Consent and Withdrawal:
Your consent is crucial for us to process your personal data. It is obtained in a clear, explicit manner, free from any coercion. You have the right to withdraw your consent at any time. To withdraw, simply notify us, and we will cease processing your data for the initially agreed purposes. Note that other legal grounds may allow us to continue processing your data, and we will inform you of such circumstances.
Incident Response and Breach Notification
We are equipped with a robust incident response plan to handle any data breaches or security incidents effectively. In the event of a breach, we will act to mitigate the impact and notify affected individuals and relevant authorities, ensuring compliance with legal requirements. Our notification process is designed to provide detailed information about the breach, its potential impact, and preventive steps for future security.
Online Banking Security
At Oman Investment Bank, the security of your online transactions is our top priority. We employ stringent controls to protect your financial information. We strongly advise against sharing your credentials or personal details via unsolicited emails or websites. Additionally, we recommend using a strong, unique password that avoids easily guessable information and regularly monitoring your account activity for any unusual transactions.
Contact Us
Your privacy is our priority. We are committed to protecting your personal and sensitive information with high standards of security and compliance.
For any inquiries or to exercise your rights, please contact Client Services:
