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Bank Muscat extends lead support to Oman Forum

MUSCAT, 15 November 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, extended lead support to Oman Forum held recently under the patronage of the Ministry of Manpower and the Central Bank of Oman.

Organised by Alam al-Iktisaad Wal A'mal (AIWA), Oman Forum 2014 was a one-of-its-kind platform that brought together a broad spectrum of stakeholders to share perspectives and ideas on meeting the challenges affecting the economy and society.

The discussions featured eminent panelists, including corporate leaders, government policymakers, social thinkers, intellectuals and prominent citizens. The open dialogue at the forum focused on two key subjects – job creation and Islamic banking, finance and insurance – which are paramount to the Sultanate's march towards inclusive growth and development in the coming years. Meethaq Islamic Banking made a presentation on the vital role of Islamic banking in the development and progress of Oman.

As the flagship bank in Oman, Bank Muscat has launched various initiatives to encourage entrepreneurial pursuits by youth who constitute the future of Oman. The bank's commitment complementing the government efforts stems from the strong belief that entrepreneurial ventures help boost the local economy, contribute to the GDP and create self-employment opportunities for youth.

 For people looking for a fulfilling career, Bank Muscat is the employer of choice. The bank has achieved qualitative advance in the human resources sector as it attracts the best Omani cadres for employment at all levels. The bank's women empowerment strategy is also notable as 46 per cent of staff are women holding various positions, including senior management positions.

The Omanisation efforts of Bank Muscat have received high commendation from the Ministry of Manpower. The bank pursues a human resources development policy in line with the directive of His Majesty Sultan Qaboos for a qualitative shift in national workforce, thereby providing more career growth opportunities for youth by strengthening their talents and increasing their participation in the comprehensive development march.

Meethaq accounts for approximately 50 per cent share in financing of the total Islamic banking market in Oman as at June 2014. Meethaq has adopted the best practices in Islamic banking and finance worldwide to combine a robust model which protects customers and complements the Islamic banking industry. As the pioneer of Islamic banking in Oman, Meethaq offers a full suite of Islamic banking products.