MUSCAT, 16 October 2016 – Bank Muscat, the flagship financial services provider in the Sultanate, in line with its 'Let's Do More' vision and commitment to partnership in support for Omani youth, is offering Shahadati finance for aspiring students seeking college or higher education opportunities in Oman and abroad. The Shahadati finance is available for Omani students seeking to pursue programmes abroad at institutions approved and recognised by the Ministry of Higher Education.
Designed to help Omani youth achieve career advancement with relevant educational qualifications, Shahadati finance covers full expenses, including tuition fees, accommodation, transportation, books and other education related expenses required by students.
Omani students who have successfully completed their schooling are eligible to apply for Shahadati finance to pursue college or higher education programmes in Oman or abroad. The application for loan assistance must be signed and guaranteed by his/her guardian working in Government, quasi-Government or accredited private sector companies.
The Shahadati loan repayment tenure is 10 years. During the study term, the guardian undertakes to pay only the interest portion of the loan so that his debt burden is limited. After completion of the study programme, a grace period of 12 months is available for the student to gain suitable employment before beginning repayment of the loan. There is also a facility for the guardian to settle the loan installment instead of the student if they so desire.
Abdullah Tamman Al Mashani, DGM – Institutional Sales and Product Development, said: “Shahadati opens up a great opportunity for Omani youth seeking to pursue college or higher education in Oman or abroad. Quality education is the key to a secure future and Shahadati helps Omani youth achieve their dreams without facing any financial burden while pursuing higher education programmes."
With employment prospects directly linked to relevant educational qualifications, Omani youth are increasingly pursuing college or higher education to achieve their career ambitions. Shahadati addresses this critical need, helping youth to pursue higher education at universities of their choice, thereby guaranteeing a secure future for Oman's future generations.