Quotes: 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.

 


Muscat Daily




  MENA News Headlines
 Apr 28 2015 - Qatar- HH the Emir Congratulates Sudanese PresidentQatar News Agency
(MENAFN - Qatar News Agency) HH the Emir Sheikh Tamim bin Hamad Al-Thani on Monday sent a cable of congratulations to President Omar al-Bashir on the occasion of his re-election as president of the ...

 Apr 28 2015 - Saud Al-Haqbani crowned with title of American International Challenge Tournament for TennisSaudi Press Agency
(MENAFN - Saudi Press Agency) Saudi team tennis captain under 14 years old player Saud Al-Haqbani was crowned with the title of The International Challenge Tournament, which concluded its ...

 Apr 28 2015 - Saudi- NAUSS Organizes 'Care and Counseling Role Facing Takfiri Thought' ForumSaudi Press Agency
(MENAFN - Saudi Press Agency) The Scientific Forum on 'Care and Counseling's Role in Facing Takfiri Thought' started its works, whereas it is being organized by the Faculty of Social and ...

 Apr 28 2015 - EGP 1.6tn deposits in banks: NBE chairmanDaily News Egypt
(MENAFN - Daily News Egypt) The total deposits in the banking sector amounted EGP 1.6tn, and the funding size increased to EGP 640m, Hisham Okasha, chairman of the National Bank of Egypt (NBE) ...

 Apr 28 2015 - Palestinian youth dies of injuries in JeninJordan News Agency
(MENAFN - Jordan News Agency) A young Palestinian succumbed Tuesday to wounds sustained during clashes with Israeli forces late on Monday in al-Araqa village in western Jenin.Palestinian sources said ...

 Apr 28 2015 - Capital market sheds EGP 7bnDaily News Egypt
(MENAFN - Daily News Egypt) The series of losses for the Egyptian Stock Exchange (EGC) continued for the second consecutive trading day, with the market losing some EGP 7bn. The preceding day the ...

 Apr 28 2015 - Hyundai Verna most sold car in EgyptDaily News Egypt
(MENAFN - Daily News Egypt) The Hyundai Verna was the most sold car in Egypt in January and February after achieving sales of EGP 338m. More than 4,000 cars were sold.The Verna is considered the ...

 Apr 28 2015 - Political situation in Arab world reflects negatively on job opportunities: ministerJordan News Agency
(MENAFN - Jordan News Agency) Labor Minister Nidal Qatamin said that the political situation in Arab countries, especially those that witnessed the so-called Arab Spring and which caused the economic ...

 Apr 28 2015 - Syria Bands Rock Beirut Music SceneArab Times
(MENAFN - Arab Times) Syrian rock bands fleeing war are finding safety and new fans in neighbouring Lebanon, where they are revitalising a Westernised scene with their focus on Arabic musical ...

 Apr 28 2015 - Egypt- Qalaa Holdings hires CI Capital to exit Tanmeyah firmDaily News Egypt
(MENAFN - Daily News Egypt) EGX listed Qalaa Holding has assigned CI Capital as advisor on the possibility of fully exiting its investments in Tanmeyah Micro Enterprise Services, the company ...

more...


 






Google

Click to Apply

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help