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BankMuscat CSR training programme in forex transactions to benefit 15 Omani youth

MUSCAT, 18 June 2012 – BankMuscat, the flagship financial institution in the Sultanate,

signed an agreement with BahwanCybertek to train 15 Omani youth from low-income families in foreign exchange transactions to be employed with Global Exchange Company across the Sultanate. Ahmed Al Barami, AGM – Chairman's Office, BankMuscat, and S. Durgaprasad, Director & CEO of BahwanCybertek, signed the agreement aimed at enhancing the skills of the beneficiaries and raising their level of economic and social status.

The training comes under the Bank's  'Jesr Al Mustaqbal' (Bridge to future) integrated CSR programme offering scholarships, training and rehabilitation directed to serve young Omanis dependent on social welfare and hailing from low-income families.

The beneficiaries will undergo training at BahwanCybertek Training Centre. The 7-month training modules include basic English and business English and aspects covering foreign exchange trade and role of cashiers. Following theoretical classes, the trainees will have on-job training for two months. The trainees will sign employment contracts with Global Exchange Company before being trained and upon successful completion of the training programme, they will be absorbed in different branches of the company on a starting monthly salary of RO 300.

Early this year, BankMuscat launched 'Jesr al Mustaqbal' (Bridge to future) programme in execution of the directive of His Majesty Sultan Qaboos to provide relevant educational and training opportunities to Omani youth to develop employable skills. To ensure continuity and success of the unique programme, the Bank has allocated 20 per cent of its CSR budget for the programme.

Ahmed Al Barami, AGM – Chairman's Office, said: “Jesr al Mustaqbal programme is aimed at helping young Omanis to receive proper education and vocational training that will enable them to develop employable skills and improve their living standards, social and economic status. This will also encourage them to positively participate in the service of society and development of the country."

Al Barami added: “BankMuscat is committed to corporate social responsibility and thereby 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. The training programme will help Omani youth from weaker sections of society to acquire employable skills, guaranteeing economic independence to them."

This year, BankMuscat trained 15 hearing impaired Omani youth who underwent a vocational training programme in association with Carrefour hypermarket. The 15 youth who benefited from the training programme have been absorbed by Carrefour for various jobs. The Bank also trained 40 vision impaired Omani youth in the fields of pottery and ceramic craft, aimed at enhancing the skills of physically challenged artisans and raising their level of economic and social status by integrating them with mainstream society.

BankMuscat is the first Omani bank to establish a full-fledged CSR department. Considered among core values, the CSR policy stems from the Bank's strong belief in the importance of social responsibility. It reflects the Bank's concern and care for various segments of society. The Bank is of the view that its social responsibility is not merely participation in charitable works and organisation of voluntary campaigns, but responsibility towards all-round development of society.

BankMuscat focuses on all types of projects that fall within the framework of social responsibility and their importance and overall benefit both to society and individuals. The prime consideration includes the benefit reaching the largest number of individuals; the youth and job-seekers and provision of opportunities for the development of skills/human capital. Efforts are also targeted at individuals with special needs to enhance their capabilities with the aim of integrating them into mainstream society.