MUSCAT – 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 emphasises 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.
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