MUSCAT, 21 August 2016 – Meethaq, the pioneer of Islamic banking
in Oman from Bank Muscat, hosted an event at Muscat Grand Mall to promote
financial literacy and savings habit among children. The 2-day ‘Back to School
with Baraem’ event, which imparted financial literacy with fun activities and
competitions, attracted a large turnout of children who were presented with gift
kits comprising school stationery.
at children below 12 years of age, Meethaq Baraem Account is the first Shari’a
based children’s savings account in Oman. The account can be opened by
parents/guardians on behalf of children. Baraem encourages children to save from
a young age and utilise savings for gainful purposes and disciplined
helps parents to save on behalf of children and at the same time inculcate the
savings habit among children. On opening the account, a special welcome kit
comprising Baraem Recognition Card entitles cardholders to discounts at various
outlets, including book shops, restaurants and children’s clothing stores.
Activity books and educational aids which spark creativity are also gifted to
Baraem account comes with attractive profit rates so the savings grow with time.
Moreover, the profit is credited on a monthly basis to the Baraem account. More
the saving in Baraem account, more the Mudarabah profit from Meethaq. Notably,
no transaction charges are deducted from the Baraem account.
has created a micro site for Baraem account where children can visit to learn
more about the concept of savings and good financial habits in a friendly
environment and participate in educational games and quiz.
friendly mascot named ‘Barum’ is associated with the children’s account to
engage and motivate them in a world of fun and learning. During events, Barum,
the banking friend of children, interacts with children, guiding them on
financial literacy. Barum also keeps company with children at homes in the form
of attractive money boxes.
is well positioned to provide Islamic financial expertise to diverse segments
and thereby promote the good of society as a whole. Meethaq offers a full suite
of Islamic banking products, including savings account, current account, fixed
deposits, home finance, auto finance, personal finance, credit card, mobile and
internet banking. Meethaq has adopted the best practices in Islamic banking and
finance worldwide to combine a robust model which protects customers and
complements the Islamic banking industry.