2024 Oman Global Money Week

GMW NATIONAL COORDINATOR:

•  Central Bank of Oman

PARTICIPATING ORGANISATIONS:

• Ministry of Education/Schools, College of Banking and Financial Studies, Children's Public Library, Mala’a, University of Technology and Applied Sciences (Suhar), University of Technology and Applied Sciences (Shinas), Dhofar University, Salalah Vocational College, University of Technology and Applied Sciences (Shinas), SME Development Authority, and the Oman Banks Association

TOTAL NUMBER OF PARTICIPATING ORGANISATION: 

• 12

NUMBER OF CHILDREN AND YOUNG PEPOLE REACHED DIRECTLY:

• 22 620 

NUMBER OF ADULTS REACHED DIRECTLY: 

• 3 000 

NUMBER OF PEOPLE REACHED INDIRECTLY: 

• Not reported

During Global Money Week (GMW) 2024, the Central Bank of Oman spearheaded a wide range of educational activities to promote financial literacy and inclusion, with a focus on youth engagement across schools, universities, and the wider community. This year’s theme, "Secure Your Money, Protect Your Future," emphasized the importance of saving, responsible financial management, and digital literacy in Oman.

One of the standout events was the Banking Village, hosted in partnership with University of Sharqiyah at the Oman Mall. This interactive initiative attracted over 450 children, offering them hands-on experiences in managing finances. The children learnt to cash checks, manage a budget, and make investment decisions, promoting an understanding of the value of money and the importance of financial planning from a young age.

In another notable activity, the Central Bank, in collaboration with the Children’s Public Library, organised financial awareness seminars for 35 students, focusing on key topics such as saving, money laundering, and financial responsibility. The event also included a financial literacy competition using the interactive Kahoot platform, ensuring active participation and learning in a fun environment.

At the university level, Dhofar University and the Technical and Applied Sciences University hosted workshops on financial inclusion and saving, with over 530 students participating. These workshops aimed to equip students with essential skills for financial planning, responsible borrowing, and investment, ensuring they are better prepared for the future. in additional, schools across Oman actively participated in various activities aimed at enhancing financial literacy among students. One notable initiative was the organisation of bank visits, where students had the opportunity to tour local banks, interact with banking professionals, and learn about essential banking services, such as savings accounts and loans. These visits provided firsthand insights into how financial institutions operate and the importance of responsible money management. Additionally, schools hosted workshops that covered key financial topics, including budgeting, saving, and investment strategies and FinTech and the Security specification of the currency.

2023 Oman Global Money Week

LEADING ORGANISATIONS:

•  Central Bank of Oman

PARTICIPATING ORGANISATIONS:

• Capital Market Authority, Ministry of Education, Bank Muscat, Bank Dhofar, Oman Banks Association, children's public library, HSBC, Bank Nizwa, Visa, Mamun, College of Banking and Financial Studies, Lahunna Oman, Rania

NUMBER OF ORGANISATIONS: 17

NUMBER OF CHILDREN REACHED DIRECTLY: 1967

NUMBER OF ADULTS REACHED DIRECTLY: 27

During Global Money Week 2023, financial education lessons were organised for children and young people on various topics. School students visited the money museum of the Central Bank of Oman in Muscat and attend lectures about money history, savings, anti-money laundering and terrorism financing. Children's public library organised a treasure hunting game and lecture about saving and money management. In cooperation with the College of Banking and Financial Studies, the Central Bank of Oman and the Oman Banks Association delivered five lectures about responsible finance, FinTech, payment system, anti-money laundering and terrorism financing, and savings and financial planning.

Children and young people from three schools visited the Capital Market Authority of Oman. Bank Nizwa offered lectures about Islamic banking to young people. Oman Banks Association conducted many activities during the GMW. In cooperation with HSBC Oman, a OBA launched a podcast about savings and financial planing for adults and launched a financial competition through Instagram. OBA also launched a short video about financial inclusion in the country. Bank Muscat collaborated with Lahunna-Oman and Visa to deliver a session about money management to young women. Lahunna Oman under Rania (sponsored by Visa) along with Protiviti and Money by R and talabat reached 1,367 children and youth through in person sessions and online competitions. Financial literacy awareness sessions were deliverered to young people mostly through digital means.

Throughout the Week, young people were able to engage in online competitions. University students had the opportunity to participate in an online competition which included universities such as German University of Technology in Oman, National University, Modern College of Science & Business, Majan University and Arab Open University.