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Ministry of Social Development, BankMuscat to launch Fund for homes of rural poor

MUSCAT, 18 March 2012 -  H.E Darwish bin Ismail Al Balushi, Minister of Finance, will preside today (Monday, 19 March 2012) at the launch of a national fund set up by the Ministry of Social Development in response to a CSR initiative by BankMuscat for renovation and upkeep of homes of underprivileged families in rural Omani communities.  The fund is open for corporates and institutions to join hands and reach out to weaker sections of society.

Ushering in a new era of social commitment, early this year BankMuscat launched an innovative CSR initiative involving the 3000-strong employees. The new CSR strategy which stems from the Royal directive of His Majesty Sultan Qaboos to accord priority for social responsibility is the first of its kind in Oman and the region to engage all staff in making a big difference in giving back to society.

As part of the CSR strategy, all employees will commit to a minimum of five hours of voluntary social work in a year as well as monetary contributions. Each staff member will be assigned specific key performance indicator (KPI) involving social work in their annual performance appraisal.

The Corporate Social Responsibility of BankMuscat is a commitment to contribute towards sustainable development by working closely with local communities with the aim of improving living standards in a manner that serves the national economy and development process at the same time. Equal consideration is accorded to environmental, social and economic issues when pursuing efforts aimed at achieving development and improving living standards.