MUSCAT : Financial inclusion or the process of ensuring easy access to financial services to all sections of society, is a crucial enabler of strong economic growth and development. As the Sultanate’s leading financial services provider, Bank Muscat attaches great importance to social responsibility initiatives aimed at improving financial inclusion as a means of strengthening the country’s progress and development. The bank launched the Woqar Banking Package in 2020 after studying in great detail and understanding the needs of retirees who were working in both government and private institutions.

Earlier, the pensioner segment was not served by any bank in Oman for flexible-term finance or credit cards based on their pension, and Bank Muscat was the first bank to extend a financing solution for retirees in Oman. With attractive rates of interest starting at just 3.25 percent and a maximum loan tenure up to 10 years for personal loans and 25 years for home loans, the Woqar package, which also includes credit cards, allows retirees to live their lives with dignity and at their own terms. Meanwhile, Bank Muscat continues to launch new financial products and services targeting different sections of society in step with the changing needs of its customers and the development of Oman.

Speaking on the occasion, Abdullah Tamman Al Mashani, General Manager – Products, Bank Muscat, said: “Easy access to various financial products and services like digital transactions, savings, credit and insurance, is very important for strengthening the Sultanate’s economy. This is all the more important in the case of groups that have traditionally fallen short of the financial inclusion net. By launching the ‘first of its kind’ Woqar banking package in 2020, Bank Muscat has reiterated its commitment to provide innovative banking services to all members of society in a sustainable manner. We are delighted with the response to Woqar and thank our customers for their strong confidence and feedback, which reinforces other supportive actions undertaken by the bank to improve financial inclusion in the Sultanate.”

Bank Muscat is continuously debuting new financial products and services targeting different sections of society in line with the changing needs of its customers and the nation’s progress and development. With its large network of 146 branches and over 800 e-channel devices spread across all governorates as well as Omnichannel mBanking and Internet Banking, a state-of-the-art Contact Centre and an e-payment gateway, the bank reaches out to the maximum members of society in its ongoing efforts to serve the nation better, every day.

Customers can get more information about Woqar by visiting any of the bank’s branches across the Sultanate, contacting the Call Centre on 24795555.