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Meethaq launches investment awareness programme for school students

MUSCAT, 16 February 2015 – Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, launched a unique savings and investment awareness programme targeted at school students. The 'Little Investor' programme, endorsed by the Ministry of Education, was unveiled at a media briefing at the bank's head office on Monday (16 February 2015).

Based on well-defined scientific principles, the savings and investment programme is part of Meethaq's strategies aimed at promoting Islamic banking concepts in society, with particular emphasis on children and youth. The Happy Family Centre for Family and Educational Consultancy will be responsible for the first phase of the programme to be introduced in three schools. More schools will be covered in the upcoming period in various governorates of the Sultanate.

Sulaiman Al Harthy, Group General Manager – Islamic Banking, said: “Following on the success of Oman's first Shari'a based children's savings account, Meethaq is proud to take the lead in launching a special savings and investment awareness programme for children. The 'Little Investor' programme is aimed at promoting and disseminating the basic concepts of financial planning and saving among families and school students during various stages of schooling. By launching this programme, Meethaq Islamic Banking aims to realise a number of objectives, most importantly to familiarise participants with the fundamentals of financial planning and money management as well as scientific methods to be followed in financial planning, saving and maintaining proper financial records, the ultimate goal being to utilise this knowledge to develop prudent financial habits."

Sulaiman Al Harthy added: “The 'Little Investor' programme focuses on instilling Islamic values and norms relating to finance in students as well as other relevant objectives in co-operation with the organisations and schools participating in the programme which includes recreational activities, training workshop, dialogue and discussions. The programme reiterates our commitment to maintain the leadership role in Islamic banking with innovative products and services."

Aisha Al Harthy, Chairman of Happy Family Centre for Family and Educational Consultancy, made a presentation highlighting key aspects of the 'Little Investor' programme.  The occasion also marked a get-together with students, parents and school representatives in order to introduce the programme.

In 2014, Meethaq launched Baraem, the first Shari'a based children's savings account in Oman. The special savings account for children is aimed at encouraging the savings culture among them and helping parents prepare for the future of children. Baraem is designed to help teach children handle money responsibly and encourage the savings habit from an early age.

Meethaq 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. The Shari'a compliant products and services include savings account, current account, home finance, auto finance, credit card, mobile banking etc.

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. Every Meethaq product goes through the process of Shari'a compliance certification by the Shari'a Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.