Muscat: Bank Muscat, the flagship financial services provider in the Sultanate, in line with its ‘Let’s Do More’ vision and commitment to partnership in sustainable development of Oman, extended support and participated in the Oman Forum for Partnership and Social Responsibility held under the patronage of Sheikh Mohammed bin Said Al Kalbani, Minister of Social Development.
Sulaiman Al Harthy, deputy chief executive officer - Islamic Banking, participated in a panel discussion on ‘Sustainable Development and Social Integration’, highlighting the bank’s CSR and sustainability initiatives.
Bank Muscat is the pioneer of CSR activities in the banking sector in Oman. Over the years, the bank has implemented several initiatives benefiting various segments of society.
Addressing the changing economic and social situation in 2016, the bank launched the Imprints initiative, which marked a big step in the public-private partnership in making lasting contributions to society and the nation. The Imprints initiative reflects the bank’s commitment to responsible banking, contributing to the country’s progress and sustainable development. The bank is focused on imparting financial literacy and energy saving initiatives as part of the Imprints CSR programme.
Launched in association with the International Finance Corporation (IFC), the green home initiative is aimed at providing finance/credit facility to customers to encourage them to build or purchase homes, which are environmentally friendly such as using solar power, LED lighting and energy efficient building materials. The move is aimed at promoting energy efficient green buildings in the country, which will contribute to reducing energy costs and greenhouse gas emissions.
The ongoing major CSR projects of the bank include the Green Sports initiative, which was launched in 2012 to develop Oman as a sporting nation by supporting local football teams to develop their fields. The Green Sports initiative has gained momentum with a total of 78 sports teams across the Sultanate benefiting from the support till date to green their fields. Marking the sixth year of the unique CSR initiative, the bank is supporting the development of 15 football fields in 2017.
Tadhamun, in partnership with the Ministry of Social Development, focuses on families under the social welfare umbrella, providing them with basic home electronic appliances for a better quality of life. The programme is implemented during the Holy Month of Ramadan every year, upholding the spirit of giving by involving the bank staff in the activity.
Jesr Al Mustaqbal, in partnership with the Ministry of Higher Education, provides students from social welfare families an opportunity to complete their education. In its inception in 2012, the programme offered support to pursue vocational training and diploma programmes. In 2014, the programme was developed to offer students opportunities to complete their bachelor degrees in Oman’s many universities and colleges.
Launched in 2014, al Wathbah SME Academy offers a customised 8-month programme meeting the requirements of SMEs in Sohar, Salalah, Muscat and Nizwa. al Wathbah SME TV (a web channel) serves as a free information platform for the public in which industry experts provide relevant advice and information to SMEs.
In step with its commitment to social responsibility, Meethaq has defined benchmarks in the conservation of energy and financial literacy programmes. Launched as part of the Imprints CSR programme, the energy conservation initiative focuses on developing Meethaq branches using solar energy.
Meethaq, in association with the Ministry of Education and Injaz Oman, has launched the ‘Little Investor’ programme to educate Omani children on the basics of financial literacy. The aim is to motivate children to develop entrepreneurial thinking and skills from an early age. The programme, which covered 1,000 students in the first phase, is presently imparting financial literacy to 4000 school students across the Sultanate.
Leading by example is the forte of Bank Muscat, making lasting contributions to society and the nation. The CSR and sustainability strategy pursued by Bank Muscat is focused on delivering long-term benefits to the community and the nation.