Bank Muscat, PACP successfully conclude financial literacy drive

01/01/2018 05:43 AST

Bank Muscat, the flagship financial services provider in the Sultanate, and the Public Authority for Consumer Protection (PACP) have successfully concluded a joint initiative to raise awareness on financial literacy. The year-long programme launched as part of the bank’s Imprints social responsibility initiative and coinciding with the 35th anniversary evoked strong response.

Aimed at reaching out to the nation against the backdrop of prevailing economic and social situation, the financial literacy campaign assumed great significance in instilling a strong savings habit among citizens. Topics covered in the awareness campaign included savings, secure online transactions and identifying fraudulent communications. The campaign utilised various media channels such as print, radio, TV and outdoor hoardings, in addition to workshops and seminars to raise awareness and build up financial literacy.

Dr. Said bin Khamis Al Kaabi, Chairman of the Public Authority for Consumer Protection (PACP), congratulated Bank Muscat for achieving the objective of the financial literacy campaign. Dr. Al Kaabi said: “We are pleased to co-operate and partner with the bank in the programme to encourage savings and promote financial literacy among citizens. The important role played by Bank Muscat in the area of social responsibility is appreciable as such initiatives contribute to strengthening partnership between the public and private sectors in community service. We encourage other corporates to initiate similar social responsibility programmes.”

Abdul Razak Ali Issa, Chief Executive, said: “Bank Muscat is proud to join hands with PACP and successfully conclude the financial literacy campaign. As the leading bank in the Sultanate, Bank Muscat is at the forefront in contributing to society and thereby setting a fine example for the corporate sector to develop social responsibility as corporate culture. The Imprints initiative reiterates the bank’s commitment to set benchmark standards in social responsibility benefiting different segments of society.”

Alongside the awareness campaign, the bank also launched an online financial literacy project with tailor-made content for different age groups, including youth and college students. The bank aims to certify Omanis in financial literacy and thereby make valuable contributions to the country’s progress and development.

Targeting school students, Meethaq Islamic Banking, in association with the Ministry of Education, launched ‘Little Investor’ programme to educate Omani children on the basics of financial literacy. The aim is to develop the children’s entrepreneurial skills from an early age. Taking the financial literacy programme to a higher level, the bank’s Management and senior officials attended financial coaching clinics to share their expertise with SMEs.

Oman Daily Observer