Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Bank Muscat's Meethaq inculcates habit of saving among children  Join our daily free Newsletter

MENAFN - Muscat Daily - 21/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted an event at Muscat Grand Mall to inculcate savings habit among children.

The fun activities and competitions held at Baraem village evoked strong response from children. Meethaq's Baraem is the first Sharia'a based children's savings account in Oman. The competitions provided a learning experience for children on the basics of financial management, including earning, budgeting, charity, savings and spending.

The winning teams received attractive prizes. Sulaiman al Harthy, group general manager, Islamic Banking, said, ''Meethaq is proud to take the lead in launching a special savings account for children aimed at encouraging the savings culture among them and helping parents prepare for the future of children. Baraem serves as a foundation for guiding children on prudent financial management in general and familiarising them with Islamic banking principles through the attractive savings product.

Baraem offers unique privileges and facilities to children.'' Baraem savings account targeted at children below 12 years can be opened by their parents. Baraem encourages children to save pocket money and cash gifts and utilise the same for gainful purposes such as buying books as well as disciplined spending for food and entertainment. Baraem fulfils the desire of children to have their own bank accounts like their parents, encouraging them to make savings a regular habit.

On signing up, children receive a special welcome kit comprising Baraem Recognition Card which entitles them to discounts at favourite outlets and book stores. An interesting story book and educational aids which spark creativity are also presented to account holders. When children save a certain amount of money in Baraem account, Meethaq will deposit additional money in their account. The Baraem savings thus continue to grow. More the saving, more the additional deposit from Meethaq.

Notably, no transaction charges are deducted from the Baraem account. Baraem is committed to a secure future for the account holders. In the event of the unfortunate demise of the parent who has signed up as the joint account holder, the child will be entitled for a monthly allowance of RO200.

 






  MENA News Headlines
 Aug 30 2014 - Watania regulators approve selling 60.53 percent stakeMENAFN
(MENAFN) Takaful Co (Watania) said that UAE regulators had approved the sale of 60.53 percent of the firm to MB UAE Investments and an affiliate of MB, The Peninsula Qatar reported.Watania said MB ...

 Aug 30 2014 - Qatar Airways orders 80 Airbus A350 XWB jetsMENAFN
(MENAFN) Qatar Airways has ordered 80 Airbus A350 xtra widebody aircraft, which are set to be delivered before the end of this year, Khaleej Times reported.The A350 MSN005 development aircraft ...

 Aug 30 2014 - Flydubai's network covers 80 destinationsMENAFN
(MENAFN) Flydubai announced the addition of three new East African routes, bringing the total number of destinations in the carrier"s network to 80, Khaleej Times reported.With the launch of flights ...

 Aug 30 2014 - Four int'l firms bid Saudi Aramco's projectMENAFN
(MENAFN) Four companies have expressed interest in bidding for work on Aramco"s gas project in Saudi Arabia as the Kingdom encourages plans to develop challenging shale deposits, Arab News ...

 Aug 30 2014 - Ronn LucasVentriloquism Fun Facts Weekly SpecialMENAFN Press
(MENAFN Press) Celebrity Dummies serves as the largest seller of ventriloquist dummies in the area of Tampa FL nowadays. The company is well known in the different parts of the country at the ...

 Aug 30 2014 - Noted Wellness ExpertDr. Antwala Robinson DNP FNP-BC APRNAnnounces Publication of Her Latest BookYou Rule! Take Charge of Your Health and LifeCoincides With "Childhood Obesity Month"MENAFN Press
(MENAFN Press) "You Rule!…" is a healthy lifestyle guide for teens and goes into depth concerning Child and Teen Obesity Issues. Presents a plan for optimum wellness and solutions for ...

 Aug 30 2014 - Skin Wellness Center Adds NeoLTS Light Therapy For Younger Looking Skin and HairMENAFN Press
(MENAFN Press) The Skin Wellness Center at Atlantic Plastic Surgery has recently acquired NeoLTS the newest and most sophisticated LED light therapy system.Online PR News – 28-August-2014 ...

 Aug 30 2014 - TShirt.in Brings In an Exclusive Collection of Corporate Polo T Shirts and Other T Shirts OnlineMENAFN Press
(MENAFN Press) We have recently introduced an exclusive range of Polo T Shirts that are suitable for casual outing as well as corporate presentation.Online PR News – 28-August-2014 – ...

 Aug 30 2014 - Punyam Management is Announcing to offer FSSC 22000 Certification Consultancy for Food Safety SystemMENAFN Press
(MENAFN Press) Punyam has experience and expertise team to effectively implements food safety system is now offering FSSC 22000 certification consultancy for FSMS.Online PR News – ...

 Aug 30 2014 - Help for Houses Australia Unveils New-Improved And Simplified Quick House SalesMENAFN Press
(MENAFN Press) Help for Houses Australia is a quick house sale provider offering help for those who want to buy or sell house quickly.Online PR News – 28-August-2014 – Help for Houses ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help