Bank Muscat committed to sustain green environment
MUSCAT, 31 July 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, is focused on energy saving initiatives as part of its Imprints CSR programme.
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 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 the energy consumption costs as well as contribute to sustainable environment in the country. In view of the 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 highlights the business opportunities available for SMEs from renewable energy like solar power.
Meethaq Islamic Banking is 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.