Early in 1998, he relocated to Oman and began working for NBO as Senior Portfolio Manager. In 2002, he left NBO and briefly worked for a reputable investment firm in Oman, where he oversaw the research division and was personally responsible for managing the firm's proprietary portfolio while also reporting to the board of directors. He later returned to NBO in the middle of 2004 and was appointed Head of Asset Management in 2005, where he was responsible for overseeing the growth and performance of the bank's proprietory portfolio as well as those of institutional clients and Mutual Funds in local, GCC, and global stock and debt markets. He was responsible for ideation and launch of new investment products, expansion of the institutional and corporate client base and organic and inorganic growth assets under management in Oman and other GCC countries. He routinely reported to the Investment Committee, Fiduciary Committee, and other Board Committees with proposed asset allocations, security selection and risk parameterization through reports and presentations. He was instrumental in restructuring the Asset Management department and successfully launched the NBO GCC Fund in 2013, raising the largest corpus amongst four Funds launched at the same time in the Oman market. He also set up the highly successful International Investment desk for institutional and Pension Fund clients, the first amongst the banking sector in Oman. He was instrumental in bringing one of the largest International Asset Management firms to partner with NBO for new global investment product launches. He was engaged in directly managing client assets as well as supervising a team of professional Portfolio and Fund Managers to generate consistent alpha for the bank’s clients, leading to a strong growth in client base and Asset under Management, including repeat business from existing institutional clients. He successfully negotiated and brought the first ever Third-Party regional Mutual Fund mandate to NBO for Fund Management, the only bank in Oman to do so till date. He was also involved in and assisted in fund raising for Corporate Finance debt mandates from time to time. Rajat is the sole recipient of "Oman Asset Manager of the Year" at the prestigious MENA Fund Manager Performance Awards for 3 years in a row from 2013 to 2015, amongst stiff competition from other banks and investment houses. In 2015, NBO GCC Fund was also shortlisted for the "Best newcomer fund" category against very strong regional competition.