The Bank’s Corporate Social Responsibility (CSR) initiative aimed at creating jobs for women will benefit 75 beneficiaries under the social security umbrella in the wilayat who will be trained in photography, beauty services and hand-made traditional Omani cap. On completion of training, BankMuscat will also financially support 10 women from the incubator to start their own businesses. 

Sheikh Saif said: “We are glad to see the BankMuscat business incubator programme transforming local communities and benefiting Omani women, especially housewives from low-income and middle class families. The incubator addresses a critical need to facilitate a work environment conducive to projects benefiting women which are difficult to start elsewhere.”

Shaima Al Lawati, Head of CSR, said: “The main objective of the BankMuscat business incubator is to create financially viable and independent enterprises run by women. The training is offered to Omani women who possess the basic skills related to their business idea. The support is aimed at accelerating the successful development of start-up and fledgling companies by providing entrepreneurs with an array of resources and services.”

Depending on the expertise of beneficiaries in the targeted region, the incubator will accommodate Omani women in projects linked to handicrafts, photography and beauty services. The business unit will be owned by a woman from the region and Omani women will be hired to work on the product / service of the company. The incubator will provide access to shared basic business services and equipment. Implementation of the incubator will be done through the Omani Women’s Association, social partners and BankMuscat CSR.

BankMuscat is the first financial and banking institution in the Sultanate to establish a full-fledged department for Corporate Social Responsibility. Considered among core values, the CSR policy reflects the Bank’s social commitment to various segments of society.