As part of its ongoing commitment to supporting community development, investing in the potential of future generations, and enhancing their skills in financial literacy, entrepreneurship, and innovation, Bank Muscat, the leading financial services provider in the Sultanate of Oman, held the “Maliyat Academy Challenge” in Sohar, North Al Batinah Governorate. The event was held in cooperation with the Ministry of Education and targeted 9th and 10th grade students from various schools across the governorate. In an atmosphere filled with engagement, constructive competition, and innovative learning experiences, the challenge brought together approximately 80 students who had previously taken part in the Bank’s Maliyat Academy initiative. By the end of the challenge, the winning teams were honored for their projects based on criteria comprising feasibility, market need, and social and economic value.
Bringing the first edition of the challenge in the North Al Batinah Governorate, the event builds on the Bank’s effort to implement the Maliyat Academy initiative which aims to instill and strengthen the principles of financial literacy among school students across Oman. The Maliyat Academy Challenge seeks to equip participants with a broad knowledge base in personal financial education and entrepreneurship, helping prepare a generation capable of managing its resources responsibly and effectively. The challenge also aims to reinforce creativity, entrepreneurial fundamentals, and community contribution among students. Through a series of interactive educational activities, participants were introduced to business concepts, financing models, budget management, understanding target audiences, and successful marketing practices. The initiative provided young participants an opportunity to enhance creative thinking, encouraging them to innovate and work collaboratively to address various financial challenges. Students were invited to develop project ideas with tangible economic impact, fostering early awareness on entrepreneurship.
The Maliyat Academy Challenge reflects Bank Muscat’s belief in the importance of cultivating innovation and an entrepreneurial spirit among young generations. The challenge provided a stimulating learning environment that helped students discover their potential and work in teams to develop their ideas into viable projects. It also represents a successful model of community partnership between the banking sector and society. Educationally, the challenge offered participants a dynamic and competitive learning experience that strengthened their critical thinking, teamwork, and problem-solving skills. Socially, it fostered cooperation and acceptance of diverse perspectives among students. The initiative aligns with the Bank’s vision of preparing a financially aware generation equipped with the skills needed to navigate the demands of modern financial life and contribute to building a knowledge-based, innovative, and socially responsible economy.
Commenting on the initiative, Talib Saif Al Makhmari, Head of Community and Media Relations at Bank Muscat, said: “The Maliyat Academy Challenge is not just an educational activity but a meaningful learning opportunity that enables participants to understand the foundations of entrepreneurship and innovation, as well as planning and organizational principles. It also empowers them to transform simple ideas into realistic projects with positive impact on themselves, their families, and entire community. The launch of this initiative reflects the Bank’s belief in the importance of instilling financial literacy among students from an early age, most notably that financial awareness is one of the most essential life skills all must possess. It helps build a generation capable of making informed financial decisions and understanding money management practices.”
Al Makhmari further added: “The challenge is part of Bank Muscat’s concerted effort to support its Maliyat Academy initiative, one of the Bank’s pioneering CSR-focused initiatives that was launched in 2023 in cooperation with the Ministry of Education. The Bank seeks to achieve the objectives of the initiative by implementing training programmes and workshops that target guidance specialists and teachers at various schools across the Sultanate, who deliver the knowledge to their peers in their workplaces. These trainings aim to train all teachers to pass on the Maliyat Academy content designed specifically to students aged 13-16. Till date, the Bank’s dedicated team has trained, through the Maliyat Academy initiative, 1289 teachers and guidance specialists who taught the content to over 77,000 students from 1190 educational institutions. The Bank will continue its leading role in supporting initiatives that encourage future generations to think creatively about financial solutions and community-driven projects that contribute to building a more sustainable economy.”
Several participants from teachers and students shared their experiences participating in the challenge. Khlaid bin Saif Al Saidi, a teacher at Imam Ahmed bin Said School for Basic Education (5-10), Batinah North, said: “I would like to express my sincere appreciation to Bank Muscat for this enriching initiative, which helped introduce students to financial literacy and entrepreneurship in an interactive and innovative manner. I observed great enthusiasm from the students, which helped them enhance their critical thinking and financial planning skills, which is an important step in building a generation that is aware and confident in shaping its future. Over the past period, we had the opportunity to participate in the training workshops organized by the Bank within its Maliyat Academy initiative, which greatly empowered us as educators to convey the content to students in engaging and practical manners. The impact of those trainings was detectable on raising the awareness of our students on financial literacy, that they enthusiastically start planning ahead for their future.”
Jamila bint Ali Al Kalbani, a teacher at Tabouk School for Basic Education (5-12), commented: “We value the Bank’s effort in organizing the Maliyat Academy Challenge, a unique initiative that reflects its commitment to serving the community and supporting various sectors, especially education. The event broadened students’ perspectives, encouraged creativity and teamwork, and introduced important economic concepts that will benefit them academically and professionally in the future. As educators, we had previously taken part in the enriching training sessions held by the Bank, which equipped us practical tools and approaches to effectively deliver the basics of financial literacy to students. When young people have the tools of financial knowledge and know how to use them to serve their community, they become key contributors to driving sustainable economic and social development in the Sultanate.”
From their side, Ahmed bin Mohammed Al Balushi, a student at Suhail bin Amru School for Basic Education (9-10), said: “Taking part in the Maliyat Academy Challenge was a wonderful and enriching experience. It gave me a real opportunity to develop my planning and innovation skills to design a business project, which will help me build a clear plan for my future. Throughout the challenge, I felt capable of turning an idea into a successful and applicable innovative project. I now have even greater ambition to contribute meaningfully to the community and make a real difference. I look forward to taking part in more of the Bank’s future events.”
Al Hawra bint Majid Al Moqbali, a student at Um Saleem School for Basic Education (7-10), said: “Developing a project idea was both enjoyable and challenging. I felt that the ideas proposed by participants were meaningful and could bring real benefits to me and my beloved country, Oman. This encouraged me to enhance my creativity and innovation skills so I can overcome any challenges I might face when working on my future plans and projects.”
The Maliyat Academy Challenge is part of Bank Muscat’s broader effort to strengthen its leadership in social responsibility and its commitment to empowering Omani youth by offering opportunities to develop their skills in innovation and creativity. The Bank strives to reach all segments of society through year-round programmes and initiatives. The Maliyat platform is one of the Bank’s financial literacy initiatives designed for individuals aged 18 and above and it focuses on key financial concepts such as financial planning, expense tracking, investing, income management, debt management, saving, and future planning. Additionally, the “Irshad” Programme offers ongoing guidance to individuals, entrepreneurs, start-ups, and SMEs to help them manage their financial affairs effectively and maximize the benefits of their business income.
