Muscat - National Bank of Oman (NBO) reaffirms its commitment to financial education by shining a spotlight on its long-standing Children’s Account. More than just a savings account, it's a valuable tool for parents to instill crucial financial skills in their children from a young age. By grasping the importance of prudent financial management, youngsters secure their financial future and equip themselves to confidently navigate the ever-evolving landscape of opportunities and challenges that await them.

Maha Al Raisi, Assistant General Manager and Head of Retail Products at NBO, underlines, "Our Children’s Account is more than just a savings tool; it's an investment in the financial future of our youth. We believe in providing families with the resources they need to cultivate financial responsibility from an early age. By instilling the value of saving and wise financial management, we're not only securing their individual futures but also sowing the seeds for a financially empowered generation. Through the Children’s Account, we aim to nurture young minds into financially savvy people who can confidently navigate the complexities of the financial world and contribute positively to our society's growth."

NBO's Children’s Account is available to fathers and guardians, both Omanis and expatriates, aged 18 and above, with children under 18 eligible for this account. Account options include a non-interest-bearing standard savings account with no minimum deposit requirement or a recurring monthly deposit account with a competitive 3.5 % interest rate compounded and paid at maturity, promoting savings growth over time.

Fathers can tailor their approach with the Children’s Account using a variety of key features. As account holders, the parent or the guardian can enjoy the advantage of free life insurance, covering a total insured amount of up to OMR 100,000 for a maximum of four children (i.e., OMR 25,000 per account), providing an additional layer of security for their family. As children mature, the account includes a provision for a free Debit Card when the child reaches 13 years of age, promoting financial responsibility. Moreover, the account allows for maintaining funds in Omani Rials or US Dollars, providing flexibility based on individual preferences.

The benefits associated with NBO’s Children’s Account extend beyond the basic features, adding value to the saving experience. Account holders gain access to exclusive offers at selected merchants. Moreover, children can enjoy thoughtful gifts on special occasions, such as birthdays, milestones and festive celebrations like Eid.

Additionally, NBO recently conducted a series of activation events at Muscat City Centre and Mall of Oman. These events featured an NBO stall, where a dedicated direct sales team assisted fathers and guardians in opening Children’s Accounts. A special corner was designated for children, offering activities like face painting and pottery drawing, fostering an enjoyable and educational experience. To enhance the engagement further, a stage was expertly managed by a professional MC who orchestrated various activities and competitions, creating a lively atmosphere for both children and their parents.

The primary objective of these activations was to onboard new customers for the Children’s Account whilst aligning with the government's social protection scheme. With the government's announcement of monthly child benefits, NBO aimed to provide a seamless and accessible savings solution for fathers and guardians. By opening accounts for their children during these events, families could effortlessly access the benefits and secure their children's financial future, exemplifying NBO's commitment to the well-being and prosperity of the community.

Comprehensive details regarding NBO’s array of accounts, products and exclusive offers are readily accessible at www.nbo.om , available through direct communication with the NBO Call Centre 2470000 or via the user-friendly NBO Mobile App.