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50 youth start ACCA scholarship programme by Bank Muscat, PDO

​MUSCAT, 13 February 2019

Fifty Bachelor degree holders selected for a scholarship initiative by Bank Muscat and Petroleum Development Oman (PDO) marked the start of the Association of Chartered Certified Accountants (ACCA) programme. 

Addressing the inaugural session, Sheikh Waleed Al Hashar, Chief Executive Officer of Bank Muscat, motivated the participants to pursue the ACCA programme for a successful career in the bank. Sheikh Waleed noted that the participants should be proud in joining Bank Muscat, which is the leading bank in Oman by total assets, the largest listed company on Muscat Securities Market by market capitalisation, the highest tax payer in the country and leader in Omanisation both by qualitative and quantitative measures, a deriver of economic growth in the country by financing all key sectors. 

Welcoming the participants to the bank’s family and inspiring them to be leaders by their performance in the unique development programme, Sheikh Waleed introduced the bank’s vision ‘To serve you better, every day’. He explained the importance of the key concepts of the vision - first and foremost the commitment to serve customers, improve the level of performance and innovate to deliver an improved level of performance and service every day.

Sheikh Waleed also encouraged the participants to align themselves with and practice the bank’s corporate values of Leadership, Innovation, Accountability, Partnership and Integrity in their day-to-day activities. He also briefed them on the bank’s mid-term strategic plans.

The selected candidates will receive training in the fields of finance and accounting leading to ACCA qualification. The investment in the programme is co-funded by Bank Muscat and PDO. On completion of the ACCA programme, the graduates will be absorbed by Bank Muscat for employment in various departments. ​​​

The banking and oil and gas fields are leading in national employment initiatives and the agreement between Bank Muscat and PDO to provide vocational training and employment to 50 Omani youth marks a unique partnership initiative. The joint initiative to support Omani youth acquire internationally recognised qualifications as well as job opportunities reflects the commitment of both institutions to human resources development in Oman. ​

​During the 18-month training programme, Bank Muscat will provide a monthly stipend to the trainees. The stipend is based on an incentive scheme that gradually enhances the benefits in line with the progress of candidates in their academic performance and demonstration of professionalism and success. 

Bank Muscat accords top priority for human resources development and earmarks substantial allocation for training and development of human resources in all functions and responsibilities assigned to them. The bank’s Jadara Academy provides a comprehensive platform and framework for all staff learning and development programmes. The Ministry of Manpower has endorsed the Jadara Academy as an accredited training centre.

Opportunities are available for Bank Muscat staff to pursue part-time diploma/Bachelor programmes at local colleges as well as Post-Graduate programmes at leading international business schools. In recent years, 465 employees were granted educational assistance to complete their academic qualifications in local and international colleges/universities/business schools.