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Bank Muscat evokes good response to Irshad financial coaching for SMEs, youth

​MUSCAT, 25 February 2019 

Bank Muscat, the flagship financial services provider in the Sultanate, has evoked good response to Irshad financial coaching targeted at SMEs, startup companies, entrepreneurs and individuals to help them manage their finances and future financial planning. The first-of-its-kind free financial consultation programme conducted by expert coaches from among the bank's senior executives is part of the Imprints CSR and sustainability initiative.

In line with the bank’s vision ‘To serve you better, everyday’ and commitment to partnership in sustainable development, the financial coaching covers areas such as setting up new business, personal finance, Islamic banking facilities, financial planning for retirement etc. The programme is aimed at empowering participants with relevant information on financial planning and sustainable business.

Bank Muscat brings decades of financial expertise to the table with Irshad. The programme offers a wealth of knowledge as the bank’s senior executives meet with SMEs and individuals to guide them in reaching their goals of financial efficiency and sustainability. Appointment for coaching can be arranged through the bank’s website www.bankmuscat.com/en/irshad in which information on coaches is also available. The Irshad meeting room at the bank’s head office is the venue of coaching. Queries related to the programme can be forwarded to irshad@bankmuscat.com  

Bank Muscat has made headway with various financial literacy programmes launched as part of the Imprints initiative. The unique CSR programme has redefined public-private partnership in making lasting contributions to society and the nation.

The ‘Little Investor’ programme, launched in association with the Ministry of Education and Injaz Oman to educate Omani children on the basics of financial literacy, is a core component of the Imprints initiative. Aimed at motivating children to develop entrepreneurial thinking skills from an early age, the programme has already covered over 10,500 students across the Sultanate. The second phase of the programme is currently under way to train 10,000 more students this year.

The bank, in association with the Public Authority for Consumer Protection (PACP), successfully concluded a year-long financial literacy campaign, which played a key role in instilling strong savings habit among citizens. Topics covered in the awareness campaign included savings, secure online transactions and steps to identify fraudulent communications. The campaign utilised various media channels such as print, radio, TV and outdoor hoardings, in addition to workshops and seminars to raise awareness and build up financial literacy.

The bank also launched an online financial literacy programme in Arabic language, covering five modules aimed at helping participants to define financial goals and understand basic economic and financial concepts such as budget, savings and investments, loans, insurance, retirement plan and dealing with financial emergencies. The programme is aimed at equipping participants with essential skills to better manage finance and take prudent decisions, especially youth and students when graduating and taking up jobs. The programme helps participants to develop skills to draw up and implement financial plans and goals covering important phases in life. 

On completion of training, participants receive financial literacy certificates. Empowering youth and other participants with financial skills, the programme reflects the bank’s commitment to responsible banking, contributing to the country’s progress and development. Financial management is the key to a strong foundation for success in life as skills acquired through the programme help participants to judiciously manage finance and thereby make valuable contributions to the nation.