(MENAFN- Muscat Daily) Muscat- Highly ambitious in its scope and reach, the Imprints corporate social responsibility (CSR) initiative launched by Bank Muscat reflects the bank's commitment to the nation on the occasion of the 46th National Day commemorating the glorious achievements of Oman under the leadership of His Majesty Sultan Qaboos bin Said.
The new initiative stemming from the Royal Directive of His Majesty the Sultan to accord priority for social responsibility is the first of its kind in Oman in terms of its scope and reach, engaging different segments in making a big difference in giving back to the society.
Marking a big step in the public-private partnership to make lasting contributions to the society and the nation, Bank Muscat has drawn up a wide ranging plan under the Imprints platform to engage different segments of society. Against the backdrop of the prevailing economic and social situation, the bank's focus to make imprints for the nation includes four key programmes to inculcate financial literacy, sustain green environment, encourage an enriched lifestyle and promote sustainable tourism.
As the leading bank in the sultanate, Bank Muscat is at the forefront in contributing to the society and thereby setting a fine example for the corporate sector to develop social responsibility as corporate culture. The Imprints initiative reflects the bank's focus to set benchmark standards in social responsibility.
AbdulRazak Ali Issa, chief executive, said, 'Bank Muscat is proud to launch the Imprints initiative on the occasion of the 46th National Day commemorating the glorious achievements of Oman under the leadership of His Majesty Sultan Qaboos bin Said. Through Imprints, Bank Muscat seeks to contribute to various segments of the society and demonstrate its commitment to be the most exemplary corporate citizen in Oman. We are confident that many corporates will follow suit with similar initiatives benefiting the nation.'
In the Imprints programme, to inculcate financial literacy, the bank will create an online portal, game or app for individuals to access financial literacy courses for free. The content will be tailor-made for different age groups, including college students. In all, the bank aims to certify 200,000 Omanis in financial literacy. For those who are not familiar with technology, classroom learning will be arranged.
Targeting school students, the bank in association with the Ministry of Education will launch the 'Little Investor' programme to educate Omani children on the basics of financial literacy and investment, implementing an already successful model by Meethaq Islamic banking of teaching school students to manage personal finance, including savings. The aim is to develop children's entrepreneurial thinking and skills.
Taking the financial literacy programme to a higher level, the bank's management and senior officials will attend a financial coaching clinic to share their expertise with SMEs.
The bank, in association with the Public Authority for Consumer Protection (PACP), will also launch a communication campaign stressing the importance of financial literacy. Topics to be covered include savings, financial planning and identifying fraudulent communication.
The Imprints programme to sustain green environment will focus on energy saving initiatives starting with a pilot Meethaq branch using solar energy, followed by two more branches run on green energy.
The energy saving programme to be implemented in association with International Finance Corporation (IFC) will also highlight energy-efficient products for homes and SMEs. The bank will provide special incentives like lower charges and interest rates on Meethaq and baituna mortgage finance for houses featuring energy efficient design and fixtures.
The bank will organise educational workshops for the public to raise awareness on alternative sources of energy in the country. Industry experts will address these workshops.
The highlight of the Imprints green initiative will be a public garden to be gifted to the nation, in association with Muscat Municipality, as a mark of the bank's commitment to the nation on the occasion of Oman's 46th National Day celebrations. Aimed at encouraging an enriched healthy lifestyle and sustainable environment, the public garden will feature exercise equipments and fixtures run on efficient alternative sources of energy, providing the local community an ideal place for relaxation.
In step with the government's economic diversification programme, the Imprints initiative has drawn up a programme in association with the Ministry of Tourism to support start-ups, encouraging Omani entrepreneurship in the tourism industry. The bank will encourage Omani youth to focus on providing basic amenities at Oman's tourist attractions, thereby ensuring sustainable sources of income for the local community.
Recalling what the country has given to the people during the past 46 years under the leadership of His Majesty the Sultan, Bank Muscat aims to make lasting imprints for the nation through the Imprints initiative as part of a strategic direction to consolidate social responsibility benefiting different segments of the society.
Committed to contributing to sustainable development and delivering long-term benefits to the community, Bank Muscat CSR programmes are focused on key segments, including youth, sports, health and education. As the bank progresses on the path of sustainable development, new opportunities are explored.
Since its inception, the corporate social responsibility department of the flagship financial services provider in Oman has taken major strides in nurturing a socially responsible culture in the bank, bringing benefits to different segments of the society and touching the lives of people. In line with the corporate ethos, bank employees are engaged in creating opportunities to help the community through various initiatives.
The CSR and sustainability strategy pursued by Bank Muscat is focused on delivering long-term benefits to the community and the nation. As the nation's leading financial institution, Bank Muscat aims to motivate corporates to provide the required support for social development initiatives.
Among the ongoing CSR initiatives by the bank, Green Sports has proven to be a thoroughly successful model for engaging the local community in establishing a modern sporting infrastructure in the country. The support to develop modern sports infrastructure across the sultanate complements the government's efforts in building a sporting nation.
The Jesr al Mustaqbal educational sponsorship programme covers students from low income or social welfare families. The programme in partnership with the Ministry of Higher Education provides educational and vocational training support, including sponsorship to complete bachelor degree programmes.
The Tadhamun CSR programme launched by Bank Muscat in partnership with the Ministry of Social Development has been benefitting social welfare families across the sultanate.
Keeping in view the sultanate's weather conditions, the programme is focused on distribution of basic electronic home appliances, including air-conditioning units and refrigerators.
All CSR programmes draw from the bank's values of leadership and partnership, creating a positive impact on the society.
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