Financial Literacy is one of the basic skills that individuals need in their daily lives, especially in light of increasing economic challenges and rapid changes in financial markets. Financial literacy contributes to enabling individuals to make wise decisions about their money, which enhances their ability to manage their personal budgets, invest wisely, and plan properly for their financial future.
In this context, Bank Muscat, in partnership with the Ministry of Education (MOE), recently organized a two-day training workshop on the concepts of financial literacy, as part of the Bank Corporate Social Responsibility (CSR) Maliyat Academy initiative. It targeted a group of life skills teachers, vocational guidance specialists and a number of members of the Khazna project team. The workshop aimed train the trainers and provide participants with the necessary knowledge and skills to learn basic financial concepts, such as making smart choices, learning to earn, spending & saving, growing your money, and giving back to community. The participants considered the workshop as a valuable opportunity to enhance financial awareness, and provide the necessary tools to help school students achieve their financial goals through experiments and ideas that will be applied.
This survey aims to gather feedback from participants about their experience in this workshop, to highlight the knowledge and skills they have acquired, how this experience may impact their personal financial situation, and the potential influence this gained knowledge could have on the students to whom the participants will impart this information.
Dr. Mohammed bin Hilal Al Siyabi, Supervisor of Life Skills Subject in MOE at Al Dakhiliya Governorate, stressed that promoting financial literacy in schools is a strategic step towards building a strong and solid society. He said: “through this workshop, I learned more about the importance of teaching students how to plan for their financial future, and we will seek to transfer this knowledge to students through dedicated workshops where they learn how to prepare a budget, the importance of saving, and how to invest wisely. These skills are not just theoretical information, but real tools that will actually enable them to achieve financial independence in their lives in the long term.”
Raja bint Rashid Al Yazidiya, Vocational Guidance Specialist at Wadi Al Hayoul School in Buraimi governorate, said: “Firstly, I would like to thank Bank Muscat and the Ministry of Education represented in the Khazna project team for giving me the opportunity to present my experience in spreading the financial culture to the school’s students. This programme contributes to the development of financial competencies and the skills of dealing with money such as saving, investing and giving.” She added that the importance of financial literacy students lies in their ability to deal with economic variables and financial developments their monthly expenses are optimal.
Rahab bint Awadh Al Sinaniya, Vocational Guidance Specialist at Bahr Oman School for Basic Education in South Sharqiya Governorate, confirmed that her participation in the training workshop of Maliyat Academy has given her many skills in the correct way of budget management and financial planning. She clarified: “Financial culture is one of the skills necessary to instill in people from a young age, enhance this awareness and encourage them to save.” Al Sinaniya extended her deep thanks to Bank Muscat for this opportunity.
Khalid bin Saeed Al Siyabi, Vocational Guidance Supervisor in MOE at Al Dakhiliya Governorate, explained that this workshop comes as a complement to the first workshop, which was held last year to train supervisors and specialists on the basics of financial literacy, adding: “We transferred the knowledge from the previous workshop to the guidance specialists from different schools in the governorate, who in turn held training seminars for tenth grade students from various schools in the governorate. Students really showed their enthusiasm and passion to learn these knowledge and financial concepts. Teaching these principles to students from an early age is very important because it will eventually lead to the creation of a financially independent generation that can make well-thought-out plans for the money in its hands and knows the balance between spending and saving.”
Samira bint Khamis Al Alawi, Supervisor of Life Skills Subject in MOE at Buraimi Governorate, expressed her gratitude for participating in the workshop, stressing that participation in the training workshop gave her the opportunity to develop her knowledge about financial concepts and acquire new skills that help to make sound financial decisions. She added: “These tools, when passed on to school students, will undoubtedly contribute to building a financially conscious and educated generation that is able to search for ways to earn money and develop them to be financially independent individuals and able to face financial crises and changing economic challenges.”
