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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Muscat Finance supports online education for underprivileged students

18 National Finance
18 National Finance

MUSCAT: In keeping with its longstanding tradition of supporting charitable causes, Muscat Finance – the Sultanate’s first non-banking finance company (NBFC) – provided support for the purchase of tablets for students from low-income families. The initiative was launched by the Parents' Council in the Wilayat of Muttrah.


The financial contribution was made to purchase devices, and was presented by the management of Muscat Finance SAOG, to Sayyid Ahmed bin Hilal al Busaidi, Wali of Muttrah.


Welcoming the gesture, the Wali applauded Muscat Finance’s sense of responsibility towards the local community by funding support for charitable initiatives.


The contribution builds on an energetic Corporate Social Responsibility (CSR) programme that characterises Muscat Finance’s commitment to the upliftment of communities in which it operates. Beneficiaries of past gestures by the reputable non-banking finance company have included recognised charities and aid organisations, social organisations, sports centres and educational institutions.


Commenting on its most recent gesture, Faisal al Yousef, Chairman, said, “In view of the adverse conditions unleashed by the COVID-19 pandemic around the world in general, and the Sultanate in particular, online and integrated education has become a necessity for schoolchildren. Keeping in mind this imperative, Muscat Finance responded to the initiative launched by the Wali of Muttrah, represented by the Parents’ Council, to support the smooth and uninterrupted education of low-income children. This contribution closely aligns with our commitment to the wider community under our annual CSR programme.”


Muscat Finance’s support for this initiative stems from its firm belief that education is one of the main pillars of Oman’s 2040 Vision, as further affirmed by His Majesty Sultan Haitham bin Tarik in his declaration of 2021 as the Year of blended Education.


A trailblazer among Oman’s NBFCs, Muscat Finance has a number of firsts to its name. Established in 1987, it was the Sultanate’s first non-banking finance company providing finance for cars, commercial equipment, plant and machinery, financing of receivables and working capital requirements. It broke new ground when it began offering factoring services to corporate customers for the first time.


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