Bank Mus­cat launches short-tenor Sha­ha­dati fi­nance for school fees

Muscat Daily - - PRESS RELEASES -

Bank Mus­cat, the flag­ship fi­nan­cial ser­vices provider in the sul­tanate, in step with its ‘Let’s Do More’ vi­sion and com­mit­ment to part­ner­ship in the na­tional ob­jec­tive of ed­u­ca­tional sup­port, has launched a short-tenor fi­nance prod­uct aimed at eas­ing pay­ment of pri­vate school tu­ition fees and vo­ca­tional train­ing charges.

The Sha­ha­dati Fee pro­vides con­ve­nient fi­nan­cial sup­port to pay school or train­ing fees. The bank will pro­vide a max­i­mum of RO10,000 at 3.5 per cent in­ter­est for a short tenor of one year. The add-on ben­e­fits in­clude spe­cial of­fers from lo­cal train­ing in­sti­tutes and joint re­pay­ment fa­cil­ity by two guardians. The Sha­ha­dati Fee dis­bur­sal will be made di­rectly to schools and train­ing cen­tres. The fi­nance can also be used to cover fees for spe­cial sum­mer and ex­ec­u­tive cour­ses.

Ab­dul­lah Tam­man al Mashani, DGM, In­sti­tu­tional Sales and Prod­uct De­vel­op­ment, said, “Bank Mus­cat is proud to widen the scope of Sha­ha­dati fi­nance and of­fer the first-of-it­skind short-term fi­nance tar­get­ted at ed­u­ca­tion pur­poses, es­pe­cially pri­vate school tu­ition fees. Qual­ity ed­u­ca­tion is the key to a se­cure fu­ture and Sha­ha­dati makes it achiev­able by en­sur­ing that cus­tomers do not feel the fi- nan­cial bur­den in en­rolling their chil­dren at ed­u­ca­tional in­sti­tutes of their choice. Sha­ha­dati fi­nance also sup­ports Omani youth to pur­sue var­i­ous train­ing pro­grammes.”

The short-tenor Sha­ha­dati Fee eases the fi­nan­cial bur­den of cus­tomers, while en­abling their chil­dren to achieve the ed­u­ca­tional goals. Over the years, the vari­ants of the pop­u­lar Sha­ha­dati fi­nance have ful­filled the am­bi­tions of a num­ber of as­pir­ing stu­dents seek­ing col­lege or higher ed­u­ca­tion op­por­tu­ni­ties in Oman and abroad. The fa­cil­ity is also avail­able for work­ing em­ploy­ees to pur­sue ed­u­ca­tional pro­grammes.

Sha­ha­dati fi­nance ad­dresses a crit­i­cal need guar­an­tee­ing a se­cure fu­ture for Oman’s fu­ture gen­er­a­tions.

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