MUSCAT : Bank Muscat, the leading financial services provider in the Sultanate of Oman, continues its ongoing efforts to support community development and invest in the capabilities of younger generations by enhancing their skills in financial literacy, entrepreneurship, and innovation. In this context, the Bank, in cooperation with the Ministry of Education represented by the “Khazna” project, organized the third edition of the Maliyat Challenge in the Wilayat of Nizwa in Al Dakhiliyah Governorate, targeting Grade 9 and 10 students from schools across the governorate. The event witnessed strong engagement and competition through innovative educational experiences, with the participation of approximately 80 male and female students who had previously taken part in the “Maliyat Academy” initiative. At the end of the challenge, winning teams were honored for presenting innovative ideas that met the evaluation criteria, which included feasibility, alignment with market needs, and social and economic impact. The proposed projects spanned various sectors, including tourism, trade, environment, transportation, and Society.

The challenge focuses on building participants’ knowledge base in personal financial management and entrepreneurship, contributing to the preparation of a well-informed generation capable of managing financial resources efficiently and responsibly. It also aims to promote creativity, initiative, and community engagement by introducing students to the fundamentals of business, financing mechanisms, budget management, understanding target audiences, and effective marketing strategies, all delivered through interactive educational activities. The initiative has provided a motivating platform for developing creative thinking, strengthening teamwork, and encouraging students to design projects with economic impact, thereby fostering an entrepreneurial mindset from an early age.

The organization of this challenge comes as an extension of the Bank’s efforts in implementing the “Maliyat Academy” initiative, launched in 2023 in cooperation with the Ministry of Education. The initiative is the largest of its kind in terms of the number of beneficiaries and it adopts an approach that aims to train teachers and career specialists to deliver age-appropriate educational content to students aged 13 to 16 through specialized workshops, enabling them to transfer knowledge effectively within their schools. To date, over 1000 teachers and specialists have been trained, helping deliver the initiative’s content to more than 100,000 students across over 800 schools across the Sultanate.

A number of teachers and students expressed their appreciation for this distinguished educational experience. Hilal bin Salim Al Riyami, Life Skills Teacher, noted that the initiative has helped introduce students to financial literacy and entrepreneurship concepts through an innovative and interactive approach, praising their enthusiasm and development in critical thinking and financial planning skills. He emphasized that these efforts help in preparing a knowledgeable generation capable of building its future with confidence. Nasra bint Naser Al Rashdi, Life Skills Supervisor, also affirmed that the challenge represents a qualitative initiative reflecting Bank Muscat’s commitment to supporting education and serving the community. She commended the training programmes provided by the Bank to educational staff and their effectiveness on developing students’ creativity and teamwork skills and instilling important economic concepts that will benefit them in the future.

From the students’ side, Al Julanda bin Masoud Al Shukaili, a student from Abo Al Hasan Al Besuei School, expressed his happiness about participating in the challenge, noting: “The experience helped me develop my planning and innovation skills and gave me the confidence to turn his ideas into viable projects. I look forward to participating in similar initiatives of the Bank in the future.” Wajd bint Ibrahim Al Amri, a student from Al Qala School for girls, stated that her experience was an enjoyable and motivating one, saying: “My participation enabled me to enhance creative thinking skills and inspired me to develop ideas that serve the community and contribute to development in the Sultanate of Oman.”

The Maliyat Challenge is part of Bank Muscat’s broader effort to strengthen its leadership in social responsibility and its commitment to empowering Omani youth by offering opportunities to develop their skills in innovation and creativity. The Bank strives to reach all segments of society through year-round programmes and initiatives. The Maliyat platform is one of the Bank’s financial literacy initiatives designed for individuals aged 18 and above and it focuses on key financial concepts such as financial planning, expense tracking, investing, income management, debt management, saving, and future planning. Additionally, the “Irshad” Programme offers ongoing guidance to individuals, entrepreneurs, start-ups, and SMEs to help them manage their financial affairs effectively and maximize the benefits of their business income.