MUSCAT, 20 January 2015 – The Shahadati educational finance launched by Bank Muscat as part of its commitment to the national objective of educational support for Omani youth, has evoked good response from citizens across the Sultanate.
The Shahadati educational finance is designed to help Omani youth achieve their career advancement with relevant educational qualifications. Shahadati 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 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 will pay only the interest portion of the loan. After completion of the study programme, a grace period of 12 months is available to begin repayment of loan until the student gains suitable employment.
The Shahadati educational finance is also available for Omani students seeking to pursue programmes abroad at institutions approved and recognised by the Ministry of Higher Education.
Shahadati opens up a great opportunity for the future of Omani youth. Quality education is the key to a secure future and Shahadati makes it achievable by encouraging Omani youth to pursue higher education at home or abroad. Shahadati ensures that customers do not feel the financial burden while pursuing higher education programmes.
Against the backdrop of Oman's demographics, Shahadati is aimed at benefiting over 50 per cent of the Sultanate's population who are below 19 years. With employment prospects directly linked to corresponding educational qualifications, Omani youth are increasingly pursuing higher education to achieve their career ambitions. According to statistics, 80 per cent of secondary school graduates spend from their pockets to pursue higher education. Shahadati fills this critical need, helping youth to pursue higher education at universities of their choice, thereby guaranteeing a secure future for Oman's future generations.