Bank muscat SAOG : Learn financial planning and budgeting with Bank Muscat’s Maliyat programme

Financial literacy is the ability to understand and apply financial skills effectively and includes personal financial management, budgeting, and saving. Financial literacy is important because it equips us with the knowledge and skills we need to manage our money effectively. Global economic research has shown that financial literacy and awareness greatly help in reducing income inequality and facilitating equitable growth and development. Hence, in line with its commitment to Corporate Social Responsibility, Bank Muscat launched its free Maliyat financial literacy programme in 2019 to enable people in Oman improve their financial literacy, knowledge, manage their income, and also save and invest wisely. The programme has seen a steady growth in the number of participants and in 2021, the bank launched an upgraded website (click here). With well-structured programme content that caters to different age-groups, the key aspects of the programme include defining personal financial goals and financial planning to achieve one's goals.

Speaking about the importance of improving financial literacy and awareness in the Sultanate, Talib Saif Al Makhmari, Manager, Community & Media Relations, Bank Muscat, said: "Financial awareness helps individuals manage income, save and invest wisely. Today, it is ever more important to be financially aware as financial products and services get increasingly diverse and complex. Since its launch in 2019, Bank Muscat's groundbreaking Maliyat financial-literacy programme is helping equip participants with the skills needed to better manage their finances and take fiscally prudent decisions, thereby helping everyone, particularly the youth become financially independent. By empowering people in Oman, the Maliyat programme will contribute majorly to the socio-economic development and progress of the Sultanate in the future."

Bank Muscat - Press release