Muscat: Bank Sohar recently hosted a reception to congratulate a group of aspiring youths who have successfully completed their higher education aided by the Bank Sohar Al Mumayaz Education Service.Khalfan Rashid Al Tal'ey, DGM of Retail Banking at Bank Sohar said, "Bank Sohar is fully committed towards nurturing the development of Omani youth and to help them reach their full potential. We at Bank Sohar are glad to be able to provide such a powerful and valuable programme as the Al Mumayaz Education Service to the customers and the community."
The event was held at the learning centre of the bank at Al Qurum and saw students presented with certificates of appreciation and a memento to commemorate their achievement. Taking centre stage at the event were self-motivated Omanis who had decided to pursue their career goals by obtaining financial support under the bank's Al Mumayaz Education Service.
Al Tal'ey also noted, "We, at Bank Sohar, are proud for providing support and programmes like the Al Mumayaz Education Service that allow students to achieve their dream of higher education. On behalf of Bank Sohar, it is my real pleasure to congratulate all the students who have benefited from this service."Bank Sohar drew its inspiration for the Al Mumayaz Education Service from His Majesty Sultan Qaboos bin Said's appeal to the private sector to be an 'authentic partner in employment and development plans'.
The bank allows deferments of monthly instalments along with a grace period of six months after graduation, which further allows the candidates a reasonable time to find suitable jobs and start repayment of the amount financed. During this period, the student pays only half the interest due.In addition to tuition fees, loans availed under this education scheme also cover accommodation and travel costs. Loan limits available under this programme can be as high as OMR35,000, depending on the tenure and the applicant's choice of specialisation.
The tenure of the loan is linked to the area of specialisation and the duration of the study programme. The Al Mumayaz loan facility is available to all salaried applicants; customers from other banks too can sign up for the loan.Applicants also have the option of seeking higher education counselling from Al Ajiyal for higher education with whom Bank Sohar has signed an agreement for the provision of consultancy services.