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Bank Muscat hosts environmental awareness workshop for school students

MUSCAT, 18 September 2017 - 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, kicked off a series of environmental awareness workshops for students to highlight energy saving initiatives as part of the bank's Imprints CSR programme.

The bank has joined hands with Nafath Renewable Energy to conduct the workshops targeting school students across the Sultanate. The programme is aimed at raising awareness on renewable energy sources for sustainable development of Oman. The first workshop was organised in Nusibah bint Thabit Secondary School in Muscat, attended by students in the age group of 5 to 10 years from Alshikh Salim Al Siyabi school, Mohammad bin Shikhan school, Manar Alelem School and Kaab bin Zaid school. Three more workshops will be held in Sohar, Salalah and Nizwa, benefiting a total of 400 students.

The workshop is designed to help students gain proper understanding about renewable energy sources and how to benefit from renewable energy, especially solar energy. The topics covered in the workshop included renewable energy sources in Oman and different ways to save energy at home.

Bank Muscat, as part of its Imprints CSR programme, has launched several initiatives to promote sustainable development through renewable energy sources. The bank has joined hands with the International Finance Corporation (IFC) to provide the necessary know-how and tools on green home financing. The move is aimed at promoting energy efficient green buildings in the country which will contribute to reducing energy costs and greenhouse gas emissions.

Notably, the bank will provide special incentives like lower charges and interest rates on Meethaq and baituna mortgage finance for houses featuring energy efficient design and fixtures.

Against the backdrop of prevailing economic situation, a core element of the Imprints CSR initiative is to promote savings and financial planning. In this respect, the green products help citizens to invest for their future whereby they can reduce energy consumption costs as well as contribute to sustainable environment in the country. In view of de-subsidising of electricity in Oman, saving energy and using alternative sources are important to reduce energy cost and sustain the environment.

Targetting students and SMEs, the bank has lined up educational workshops to raise awareness on alternative sources of energy in the country. Industry experts will address these workshops. While educating students, who represent the future of Oman, on the benefits of renewable sources of energy, the programme seeks to highlight business opportunities available for SMEs from renewable energy like solar power.

Meethaq Islamic Banking is also associated with the Imprints programme on energy conservation with the focus on using solar energy for Meethaq branches. Nafath company, which is a leading player in energy conservation, is implementing this project.

The CSR and sustainability strategy pursued by Bank Muscat is focused on delivering long-term benefits to the community and the nation. Leading by example is the forte of Bank Muscat as the Imprints initiative marks a big step in the public-private partnership in making lasting contributions to society and the nation.

Bank Muscat is proud to be 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. The Imprints initiative reflects the bank's commitment to responsible banking, contributing to the country's progress and development.