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Bank Muscat hosts school students on financial literacy programme

MUSCAT, 10 May 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, in step with its ‘Let’s Do More’ vision and partnership to promote responsible banking, hosted school students on a financial literacy programme. The initiative came as part of activities lined up to mark the annual Arab Financial Inclusion Day. The visit helped the students to familiarise themselves with prudent savings and spending habits as well as the bank’s daily operations, products and services.

Financial literacy is a core component to lay a strong foundation for success in life. Familiarising students with financial skills, the programme was aimed at making a positive contribution to the development and progress of the country.

In step with the ‘Imprints’ social responsibility initiative, the bank, in association with the Ministry of Education, has launched ‘Little Investor’ programme to educate Omani students on the basics of financial literacy. The aim is to motivate children to develop entrepreneurial thinking and skills from an early age.

The bank, in association with the Public Authority for Consumer Protection (PACP), has also launched an awareness campaign on prudent savings and spending habits. All these initiatives reiterate the bank’s commitment to promote financial literacy at all levels and thereby create a lasting contribution to the nation through sustainable development.

The Arab Financial Inclusion Day aims to raise awareness of the importance of financial inclusion amongst all stakeholders in the Arab countries. This comes in the context of key interest given by Arab countries to achieve sustainable development goals by 2030 and ensure access to a full range of quality, cost-effective and appropriate financial services to unbanked and/or under-served populations and businesses in the Arab countries.

In this context, the Council of Arab Central Banks Governors has put in place comprehensive frameworks to achieve the goals of financial inclusion, financial stability and financial integrity in a complementary manner, while recognizing, financial innovation, consumer protection and empowerment as key pillars of financial inclusion efforts.