Bank Muscat launches short-tenor Shahadati finance for school fees

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in step with its ‘Let’s Do More’ vision and commitment to partnership in the national objective of educational support, has launched a short-tenor finance product aimed at easing payment of private school tuition fees and vocational training charges.
The Shahadati Fee provides convenient financial support to pay school or training fees. The bank will provide a maximum of RO 10,000 at 3.5 per cent interest for a short tenor of one year. The add-on benefits include special offers from local training institutes and joint repayment facility by two guardians. The Shahadati Fee disbursal will be made directly to schools and training centres. The finance can also be used to cover fees for special summer and executive courses.
Abdullah Tamman al Mashani, DGM (pictured) — Institutional Sales and Product Development, said: “Bank Muscat is proud to widen the scope of Shahadati finance and offer the first-of-its-kind short-term finance targeted at education purposes, especially private school tuition fees. Quality education is the key to a secure future and Shahadati makes it achievable by ensuring that customers do not feel the financial burden in enrolling their children at educational institutes of their choice. The Shahadati finance also supports Omani youth to pursue various training programmes.”
The short-tenor Shahadati Fee eases the financial burden of customers while enabling their children to achieve the educational goals. Over the years, the variants of the popular Shahadati finance has fulfilled the ambitions of a number of aspiring students seeking college or higher education opportunities in Oman and abroad. The facility is also available for working employees to pursue educational programmes.
Designed to help Omani students achieve relevant educational qualifications, Shahadati finance addresses a critical need guaranteeing a secure future for Oman’s future generations.