MUSCAT: In a remarkable ceremony reflecting months of dedicated efforts, the Ministry of Education, represented by the Directorate General of Education in North Al Batinah Governorate, organized the award ceremony for winners of the “Rikaz” Entrepreneurship Award. The event was held under the patronage of Dr. Intisar Abdullah Sulaiman Ambusaidi, Undersecretary for Educational Support Programmes, Ministry of Education, and was attended by a large number of officials and participating students.

The award seeks to transform ideas into viable business ventures and enhance innovation and practical thinking skills, in alignment with Oman Vision 2040’s objectives of building a knowledge-based economy and developing national capabilities.

Bank Muscat played a key role in supporting the Rikaz Entrepreneurship Competition, driven by its strong belief in the importance of such initiatives in empowering young talents and nurturing a culture of innovation among students. These initiatives go beyond being competitive platforms; they provide an enabling environment that supports the development of ideas into sustainable and scalable projects, contributing to economic diversification and the creation of quality employment opportunities.

This support reflects the bank’s firm commitment to corporate social responsibility, strengthening its leadership position and reinforcing partnerships with both public and private sector entities, while complementing its long-term initiatives aimed at improving the quality of life across society.

On this occasion, Talib bin Saif Al Makhmari, Head of Community & Media Relations at Bank Muscat, expressed his pride in this partnership, emphasizing that the bank’s support for the Rikaz Award stems from its steadfast commitment to community service and to advancing impactful initiatives that empower individuals and develop their capabilities. Corporate social responsibility lies at the core of the bank’s strategy, through the adoption of qualitative programmes and projects that focus on youth empowerment, financial literacy, and fostering innovation and entrepreneurship. The competition’s outcomes and impact serve as a strong motivation to continue working closely with various partners to achieve sustainable impact that benefits society and contributes to building a more prosperous and inclusive future.” He added. 

The award is designed as an enrichment project for the Life Skills curriculum for Grade 10 students, providing training on selecting suitable business ideas, identifying funding sources, preparing feasibility studies, analyzing competitive markets, and effectively marketing and promoting their projects.

The award targeted students from seven governorates: North Al Batinah, Al Buraimi, Al Dhahirah, South Al Batinah, Muscat, Al Dakhiliyah, and North Al Sharqiyah. More than 800 projects were submitted for the award, with over 50,000 students benefiting from the initiative across different governorates. The bank’s support highlights its strategic partnership with the Ministry of Education and reflects its leadership role in investing in human capital and preparing a generation capable of leading the future economy.

Bank Muscat remains committed to its social responsibility by continuously launching and implementing various initiatives and programmes targeting different segments of society, particularly youth, in areas such as education, entrepreneurship, sustainability, and financial inclusion, in collaboration with several public and private sector entities, in line with sustainable development goals and community partnership values.

Among the key student-focused initiatives is the Maliyat Academy for financial literacy, implemented in cooperation with the Ministry of Education. Over the past two years, the initiative has achieved outstanding results, benefiting more than 100,000 students across approximately 800 schools throughout the Sultanate.

Through these efforts, Bank Muscat continues to strengthen its position as a leading national institution in supporting community initiatives. Over the years, the bank has received numerous prestigious awards and recognitions in corporate social responsibility, acknowledging its impactful contributions and sustainable initiatives that create tangible positive impact. These include the “Best Bank in CSR” award at the Gazet International Annual Awards, the “Outstanding CSR Initiatives in Banking Oman 2025” at the World Business Outlook Awards 2025, the “Leadership in CSR” Award from Muscat Media Group, as well as “CSR Leader of the Year” Award from United Media Services.