OAB Announces ‘ Saving Accounts for Orphan Children’ Initiative

Muscat, June 6th, 2017: In conjunction with the holy month of Ramadan and as part of its social responsibility programme, Oman Arab Bank (OAB) has unveiled a new initiative; opening special fee-free savings accounts for orphaned children in need. This is being done in cooperation with the Ministry of Social Development and represented by the Childhood Care Centre. The community initiative aims to offer the Bank’s customers and those who wish to help orphaned children an easier channel through which they can provide their support.

Commenting on this occasion, Hilal O. Al Siyabi, Head of Corporate Social Responsibility Department at OAB said, “We at OAB believe that our role and contribution towards our community is just as important as the other roles we play at an economic level. The ‘Accounts for Orphan Children’ initiative aligns with our philosophy, and provides a channel where anyone in the community can help support orphaned children registered with the Ministry of Social Development and help enhance their lives. The fee-free savings accounts will help these orphaned children save the money they receive till they reach the legal age where they can manage their accounts by themselves. Furthermore, the money can also be used earlier if required to cover any of their expenses; but can be done only with the approval of the Ministry of Social Development.”

The Ministry of Social Development pays special attention to orphaned children; recognising their rights and needs as part of their effort to promote social integration and equality. It is within this framework that the Childhood Care Centre was established. This was done in cooperation with the private sector with the aim of efficiently developing and integrating orphaned children into the community, in recognition of their right to citizenship and development; as guaranteed by the Basic Law of the Sultanate of Oman.

“Through this initiative, not only will we more effectively support orphaned children, but we are providing an opportunity for everyone, especially OAB customers, to contribute in helping enhance their lives both presently and in the future,” added Hilal.

Oman Arab Bank is one of the first banks to be established in Oman, with a rich and proud history. Today, the bank operates a nationwide network of 65 branches and offices and over 135 ATMs spread across the Sultanate. OAB provides the complete range of financial products and services for personal banking, corporate and investment clients.