Oman- Meethaq event promotes children's savings habit

Date

8/23/2016 1:02:31 AM

(MENAFN- Muscat Daily) Muscat-

Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, hosted an event at Muscat Grand Mall to promote savings habit among children.

Coinciding with the new school session, the two-day 'Back to School with Baraem' event held on August 18 and 19 included fun activities and competitions aimed at promoting savings which evoked strong response from children.

Targeted at children below 12 years of age, Meethaq's Baraem account is the first Sharia'a-based children's savings account in Oman. The account can be opened by parents/guardians on behalf of their children. Baraem encourages children to save and utilise savings for gainful purposes such as buying books as well as disciplined spending for food and entertainment.

Baraem fulfils the desire of parents to save on behalf of their children and at the same time inculcate the savings habit among children. On opening the account, parents receive a special welcome kit comprising Baraem Recognition Card which entitles them to discounts at various merchants, including book shops, restaurants, children's clothing stores etc. An interesting activity book andeducational aids which spark creativity are also provided to account holders.

The Baraem account comes with attractive profit rates so the savings grow with time. Moreover, the profit is credited on a monthly basis to the Baraem account. More the saving in Baraem account, more the Mudarabah profit from Meethaq. Notably, no transaction charges are deducted from the Baraem account.

Meethaq has created a micro site for Baraem account where children can visit to learn more about the concept of savings and good financial habits in a friendly environment and also play educational games and quizzes.

Aimed at motivating children, a friendly mascot named Barum is associated with the children's account to engage them in a world of fun and learning.

Barum, the banking friend of children, interacts with children at popular hypermarkets and malls, guiding them on savings. Barum also keeps company with children in their homes in the form of attractive money boxes.

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, including savings account, current account, fixed deposits, home finance, auto finance, personal finance, credit card, mobile and internet banking. 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.

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