MUSCAT, 23 October 2018
Bank Muscat, the flagship financial services provider in the Sultanate, as part of its corporate social responsibility initiatives and commitment to talent development and youth empowerment in the banking and financial sector, signed an agreement with Petroleum Development Oman (PDO) to provide vocational training leading to Association of Chartered Certified Accountants (ACCA) qualification and job opportunities to 50 Omani youth.
The signing ceremony was held at Bank Muscat head office under the patronage of H.E Sheikh Abdullah Bin Nasir Al Bakri, Minister of Manpower, in the presence of Abdul Razak Ali Issa, Chief Executive of Bank Muscat, senior government and private sector officials and Management Team members from Bank Muscat and PDO. The agreement was signed by Sheikh Waleed Al Hashar, Deputy Chief Executive Officer of Bank Muscat, and Abdul-Amir Abdul-Hussein Al Ajmi, External Affairs and Value Creation Director of PDO.
Fifty Bachelor degree holders will be selected for the programme to receive vocational training in the fields of finance and accounting leading to ACCA qualification, funded by PDO. On successful completion of the ACCA programme, the graduates will be absorbed by Bank Muscat for employment in various departments.
H.E Sheikh Abdullah Bin Nasir Al Bakri commended the private sector initiatives which translate the government direction in human resources development. 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 Minister said. H.E Sheikh Abdullah urged the private sector to participate in various government programmes to develop human resources as well as support jobseekers to take advantage of such training programmes.
On this occasion, Sheikh Waleed Al Hashar expressed gratitude to H.E the Minister of Manpower for patronising the signing ceremony to facilitate vocational training and job opportunities to Omani graduates. Sheikh Waleed Al Hashar said: “Bank Muscat is pleased with the unique partnership initiative with PDO to enhance the role of both institutions to provide vocational training and job opportunities to Omani youth. 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. Stemming from the directive of His Majesty Sultan Qaboos Bin Said for creation of jobs, the initiative comes as part of the Corporate Social Responsibility and commitment of Bank Muscat to talent development and youth empowerment.”
Abdul-Amir Abdul-Hussein Al Ajmi, External Affairs and Value Creation Director of PDO, said: “We are delighted to sign this agreement with such a prestigious partner as Bank Muscat to fund vocational training and job opportunities in the financial sector for young Omanis. PDO has worked, and will continue to work, with a number of trusted organisations both within the oil and gas sector and beyond to promote In-Country Value, Omani skills and spur wider economic diversification in the Sultanate.”
During the 18-month training programme, Bank Muscat will provide a monthly stipend to the trainees. The stipend will follow an incentive scheme that gradually enhances the benefits in line with the progress of the candidates in their studies and demonstration of professionalism and success. Employment will be offered to all candidates who join the programme and complete it successfully.
Bank Muscat accords top priority for human resources development. The bank enrolled 221 new Omani staff to work in different departments in the first eight months of this year, including 207 Omani youth as part of the national initiative to create 25,000 new jobs on the Royal directive of His Majesty Sultan Qaboos Bin Said. Bank Muscat has the distinction of outstanding leadership at all levels and achieved 94.57 per cent Omanisation, giving priority for Omanis to occupy key positions. Of the total 3646 employees, the number of Omani employees presently stands at 3453. Omanis form 75% in the higher management and 92.6% in the middle management cadres.
Bank Muscat earmarks substantial allocation for training and development of human resources in all functions and responsibilities assigned to them. The Jadara Academy provides a comprehensive platform and framework for all staff learning and development programmes in the bank. The Jadara Academy offers a wide range of soft skills, leadership and functional development programmes. Since 2017, over 10,000 classroom training opportunities were provided and 7,800 employees completed different eLearning modules. The Ministry of Manpower has endorsed the Jadara Academy as an authorised 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 the recent years, 465 employees were granted educational assistance to complete their academic qualifications in local and international colleges/universities/business schools.