With assets worth over USD 18 billion, BankMuscat (SAOG) is a leading financial services provider in Oman, with strong presence in Corporate Banking, Retail Banking, Investment Banking, Treasury, Private Banking and Asset Management. The Bank has the largest network of 130 branches, 394 ATMs, 135 CDMs and 4500 PoS terminals. BankMuscat was founded in 30 April 1982 and it adopts a social responsibility policy through which it outlines its belief in the importance of social responsibility which it considers among its values.
Support to Higher Education
BankMuscat provides special attention to higher education through “‘Jisr al Mustaqbal’” Youth Scholarship Program. The program offers scholarships and vocational training sponsorships for young Omanis, both male and female, from low-income and limited income families who have not been able to complete their education for various reasons. In addition, the Bank supports students via providing educational loans.
Type of Support
Scholarships
Secondary school graduates from underprivileged families are sponsored to pursue undergraduate diplomas at selected colleges and universities. The study programs are limited to diplomas in Banking, Accounting, Finance or Information Technology. Students who achieve GPA equal to or higher than 3.50 or equivalent in their diploma studies may be, at the sole discretion of the Bank’s Management, offered sponsorship to pursue a Bachelors program. The sponsorship covers course registration, tuition fees, cost of books and a monthly allowance of OMR 75 (approx. USD 195).
Training
Unemployed youth from low-income families who have not completed high school are sponsored for vocational training. The sponsorship for vocational training through colleges and institutes in Oman covers course registration, tuition fees, cost of books, and if required, a monthly allowance on an ad-hoc basis.
Loans
The Bank provides educational loan to individuals for the sole purpose of payment of fees for undergraduate studies, in a University recognized by the Ministry of Higher Education only, whether within or outside the Sultanate of Oman. The loan is a maximum of OMR 16,000 (approx. USD 41,500) with no deferrals of installments. For additional information dial BankMuscat’s Call Center or refer to:
www.bankmuscat.com/en-us/ConsumerBanking/loansNmortgages/educationalloans/Pages/default.aspx
Duration of Support
Scholarships
The duration shall not exceed three-and-a-half years.
Training
As per the time of courses provided by institutes.
Loans
The duration of the loan varies according to the received request.
Eligibility Criteria
Scholarships
• Applicants should:
- Be Omani nationals less than 20 years of age and unemployed.
- Have completed Secondary School with at least 70 per cent marks, with the course completed not more than two years prior to the proposed date of enrolment to college.
• Candidates applying for sponsorship will be required to clear the placement test conducted by the college.
• Priority will be given to students with no employment in the family.
Training
• Applicants should be Omani nationals less than 25 years of age and unemployed.
• The families of students should be recipients of social welfare and/or from the low-income category as defined by the Ministry of Social Development.
• Candidates applying for sponsorship will be required to clear the placement test administered by the college.
• Priority will be given to students with no employment in the family.
Loans
The basic parameters considered for qualification are the age, salary, length of service, employer and repayment capability of the person proposed as a guarantor. However, the Bank may apply additional criteria depending on the loan amount, type of loan, and more.
Application Procedures
Scholarships
Applicants can send their requests to the Bank via regular mail or email.
Training
Applicants can send their requests to the Bank via regular mail or email.
Loans
Applicants can apply for a loan at any Bank Muscat branch near them, or request for a Direct Sales Agent to visit them by just dialing the Call Center number: (+968) 24795555. In order to evaluate the qualification, the minimum set of documents required are an ID card copy, a salary certificate (mentioning the salary and the date of employment) and bank statements for the previous six months (for non-Bank Muscat account holders, or account holders whose salaries do not get credited to their Bank Muscat accounts).
Deadlines
Scholarships
Deadlines are announced in the newspapers.
Training
Deadlines are announced in the newspapers.
Loans
Applications are accepted all year round.
Contact
Loans
BankMuscat’s Call Center (7:00 am - 11:00 pm)
Telephone: (+968) 24795555
Additional Information
The following are some of the projects and initiatives that have been carried out by BankMuscat in supporting higher education:
• Providing Higher Education Opportunities: BankMuscat CSR, in association with Oman Charitable Organization, is offering scholarships for 20 students from economically downtrodden families for higher studies in various colleges/universities in the Sultanate of Oman. The scholarships are provided as of the year 2009, and for a period of five years.
• Donating OMR 30,000 to support Children with Special Needs: BankMuscat CSR Department has funded the training in professional skill development of Omani Women to become teachers in the Association of Early Intervention for Children with Special Needs offering rehabilitative services and catering to children with special needs. The Bank has donated OMR 30,000 (approx. USD 78,000) to support three more teachers from the new group of the diploma program to add to the twelve teachers supported earlier.
• Supporting Career Guidance Program: BankMuscat supported a career guidance program for Omani youth implemented by AMIDEAST in co-ordination with the Ministry of Education’s National Center for Career Guidance. The program enabled 18 students from low-income communities in the Muscat area to identify their talents and skills, clarify career aspirations and develop strategies accordingly. Six instructors from the National Center for Career Guidance assisted in the workshop, setting the stage for replicating the program in the future.