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A national fund set up by the Ministry of Social Development in response to a CSR initiative by BankMuscat for renovation and upkeep of houses of social welfare families in rural Omani communities will be launched today. Darwish bin Ismaeel al Balushi, Minister Responsible for Financial Affairs, will preside over the launch of the fund which is open for corporates and institutions to join hands and reach out to these sections of the society.

The new strategy which stems from the Royal directive of His Majesty to accord priority for social responsibility is the first-of-its-kind in Oman. Ushering in a new era of social commitment, early this year BankMuscat launched an innovative CSR initiative involving the 3,000-strong employees. As part of the CSR strategy, all employees will commit to a minimum of five hours of voluntary social work in a year as well as monetary contributions.

Each staff member will be assigned specific key performance indicator (KPI) involving social work in their annual performance appraisal. The Corporate Social Responsibility of BankMuscat is a commitment to contribute towards sustainable development by working closely with local communities with the aim of improving living standards in a manner that serves the national economy and development process at the same time.
Equal consideration is accorded to environmental, social and economic issues when pursuing efforts aimed at achieving development and improving living standards.

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