Sunday 17 / August / 2025
As part of its concerted efforts in social responsibility and community service across multiple fields, Bank Muscat, the leading financial services provider in the Sultanate of Oman, recently organized a workshop on financial literacy in conjunction with the IKEA Summer Camp activities hosted in the Wilayat of Bausher, Muscat Governorate. The workshop featured the participation of 100 kids aged between 10 -15. The Bank’s participation came as part of its Maliyat Academy Programme that aims to instill and reinforce the principles of financial literacy amongst kids.
Financial literacy plays a pivotal role in promoting financial inclusion and is a key pillar for achieving economic and social stability. It fosters responsible financial practices that support sustainability by empowering individuals to manage their finances, make informed decisions, and better navigate financial challenges. By promoting awareness and accurate understanding of core financial principles and concepts, such initiatives help participants develop smart financial habits and equip them with the skills to better manage their financials, save effectively, and make sound spending decisions from an early age.
During the workshop, the Bank’s dedicated team introduced the participants to the Maliyat Academy educational content comprising 5 chapters, each revolving around a different subject related to financial literacy.
Chapter 1 of the academy covers “Sound Decision-Taking” which defines money and introduces participants to the importance of taking sound financial decisions for securing a decent life. Chapter 2 touches upon “Learn How to Gain Money” and urging participants to look for possible ways to acquire money for the future. Chapter 3 focuses on “Saving and Spending” and it emphasizes the significance of setting sound spending plans to familiarize the kids with the effective objectives of doing such a practice. The chapter also introduces the kids to the concept of budget and its role in money-saving practices. Chapter 4 sheds the light on “Grow Your Money” and it aims to raise kid awareness about the impacts of taking effective investment decisions on capital growth by time. In chapter 5, the participants were familiarized with the concept of “Giving” aiming to instill within them the value of giving in nurturing satisfaction and courage. In addition, the workshop combined the theoretical material with engaging activities to enable a facilitated learning process for the participants.
The workshop also emphasized the use of interactive activities to simplify the concepts and enhance engagement among participants. It is worth noting that this session is a continuation of the successful partnership between Bank Muscat and the Ministry of Education to support the Bank’s Maliyat Academy Programme, which has benefited, to date, over 70,000 students across various governorates in the Sultanate.
Bank Muscat places significant importance on sustainability and corporate social responsibility, with a strong focus on promoting financial awareness and its positive impact across all segments of society. The Bank actively launches programmes and initiatives to spread financial literacy and educate the public on the importance of effective financial management, helping individuals plan constructively for their financial future.
In addition to the “Maliyat” Academy programme, Bank Muscat offers the “Maliyat” programme, an online platform launched in 2019 to offer free courses on financial literacy targeting individuals aged 18 and above. The programme falls under Bank Muscat's CSR initiatives and it focuses on enhancing financial literacy with the aim of providing individuals from different ages with the basic skills needed to manage various financial affairs, make wise spending decisions, and prepare them to be financially independent individuals. The programme highlights various aspects of financial literacy, including basic financial concepts and principles such as financial planning, tracking spends, investment, revenue, debt management, saving and planning for the future.
The Financial literacy concepts help individuals, especially the youth, set well-managed future financial plans and prepare themselves for life in light of the current economic changes that could affect the financial stability of individuals and families. Therefore, it is necessary for them to have knowledge and awareness about financial affairs, including understanding basic financial terms such as budgets, interest, insurance and loans, thus, enabling them to develop well-thought-out future financial plans that enable them to face unexpected life changes such as economic crises.
Bank Muscat’s sustainable and CSR-focused initiatives and Programmes represent one of the key pillars which the Bank has constantly committed to implementing and enhancing during its journey spanning over 40 years in partnership with multiple governmental institutions. These Programmes revolve around multiple areas such as education, youth, sport, health, environment, and entrepreneurship, targeting different segments of the Omani society. During the past few years, it should be noted that the Bank has successfully launched such initiatives and events that appealed to the entire society.
