Muscat: National Bank of Oman (NBO) has signed a Memorandum of Understanding for the launch of its newest corporate social responsibility (CSR) initiative, Innovation Incubator.
In collaboration with the SMEs Development Authority, Oman Academy for SMEs, and Paradigm Consulting, the programme will teach young graduates how to design their start-up FinTechs. Attended by Qais Al Tobi, Acting Vice President of the SMEs Development Authority, and Hassan Shaban, Chief Government Banking & Alliances of NBO, the signing marks the latest milestone in the bank’s active CSR programme, which focuses on fostering Oman’s young people and equipping them with the skills and knowledge they need to contribute to the development of the nation.
As part of its commitment to nurturing talent in the banking industry, NBO will also select up to 15 of its employees to become certified coaches. They will help the graduates to connect to potential investors and identify bigger opportunities beyond.
Qais Al Tobi added, “We’re proud to continue building on our long-term relationship with NBO and continuing to join hands to create sustainable employment opportunities for Omani youth so that they can fulfil their roles as contributors to the national economy. Innovation Incubator is just the start for its participants, and will open up opportunities for them as they embark on their careers.”
Sherifa Al Maskari, Head of Brand at NBO, said, “At NBO, innovation is at the core of what we do and we are adamant to pass it on to the next generation. As one of the most significant and upcoming technological trends in the new financial age, FinTechs are an important area of knowledge for those in, and those wanting to enter, the finance and IT industries. Building on the success of similar initiatives we have conducted in the past, Innovation Incubator has been created to equip the young market with this particular skill set, while supporting the advancement of Oman’swider finance sector.”
NBO’s long-standing commitment to the Sultanate’s young people is demonstrated by a number of initiatives that it organises and supports, including Etimad, Outward Bound Oman, the Youth Awards and Hackathon, among others. By continuing to foster partnerships between the private and public sectors through a range of educational and youth-led programmes, the bank is fulfilling its goals to empower local talent and position Oman as a future-ready economy.