logo
Bank Muscat Introduces Community Sports Project in Kumzar Village in Musandam

Bank Muscat Introduces Community Sports Project in Kumzar Village in Musandam

Times of Omana day ago
In a significant stride towards sustainable development and social responsibility, Bank Muscat proudly announced the inauguration of the first integrated social sports project in Kumzar Village, Musandam Governorate. This initiative, in collaboration with the Office of the Governor of Musandam, underscores the Bank's dedication to enhancing the quality of life in local communities and developing sports infrastructure across the Sultanate.
The project seeks to enrich sports, social, and cultural activities in Kumzar Village by establishing a modern football turf designed to host a variety of events and recreational endeavors. Strategically located with stunning views of the Strait of Hormuz, the playground is equipped with state-of-the-art safety features, lighting, and artificial turf, creating an ideal environment for individuals of all ages and serving as a vital recreational hub for the village's residents.
On behalf of the Governor office, Eng. Mohammed bin Saif Al Jabri, Assistant Director General, Musandam Municipality, emphasized the significance of this integrated project as a successful example of partnership between the public & the private sector. He said 'This project reflects the government efforts to provide bespoke services to the coastal areas, such as Kumzar, which is distinguished by its unique location and culture. The football turf is a pivotal addition that addresses the needs of the youth, providing a secure and well-equipped setting for both sports and social activities. I would like to extend gratitude to Bank Muscat for its robust support and collaboration in bringing this project to fruition. It will surely be a perfect gathering place for the community and a venue for various social events and activities.'
Talib Saif Al Makhmari, Head-Community & Media Relations, Bank Muscat, expressed pride in the Bank's role in actualizing this project, which reflects its unwavering commitment to bolstering local sports infrastructure throughout the Sultanate. He highlighted the partnership with Musandam Governor's Office as a testament to the Bank's dedication to supporting local communities. "We would like to express sincere gratitude to the Governor's Office for their diligent efforts in facilitating the procedures necessary for the successful implementation of this project. This initiative transcends being merely a sports facility; it serves as an open social center that fosters unity and collaboration among residents, illustrating a successful model of public-private partnership." He added.
Ahmed bin Mohammed Al Kumzari, Deputy Chairman of the Municipal Council of Musandam Governorate, expressed his enthusiasm for the project, stating, "We, the people of Kumzar Village, are thrilled with the opening of this integrated sports and social project, marking a historic advancement in enhancing our community's quality of life. The facility addresses a long-standing need for youth, providing them with a supportive environment to pursue their athletic passions and develop their skills. This project will serve as a cultural and social platform for various events, fostering community cohesion and empowering youth in local development." He also expressed gratitude to both the Musandam Governor's Office and Bank Muscat for their exemplary collaboration.
Residents of Kumzar have also voiced their excitement about this achievement, recognizing it as a timely response to the community's needs. They believe the project will play a crucial role in advancing youth and social activities and extend their heartfelt thanks to all those who contributed to making this vision a reality.
Bank Muscat remains firmly committed to sustainability and social responsibility, having established a strong foundation in these areas over the past decades. The Bank implements clear strategies and sustainable annual programs aimed at creating a positive impact on Omani society across various sectors, including health, environment, youth, and sports. Initiatives such as the "Green Sports", "Tadhamun", and "Maliyat Academy" have benefited thousands of community members from different governorates.
In recognition of its dedicated efforts in this domain, Bank Muscat has garnered several prestigious local and international awards, including the Best CSR Bank Oman Award within Gazet International Annual Awards 2025, Outstanding CSR Initiatives in Banking Oman 2025 Award from World Business Outlook, along with the Excellence in Environmental, Social, and Governance Performance Award at Oman Sustainability Week 2025.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Public-private cooperation ramped up to meet needs of Khareef Dhofar visitors
Public-private cooperation ramped up to meet needs of Khareef Dhofar visitors

Times of Oman

time5 hours ago

  • Times of Oman

Public-private cooperation ramped up to meet needs of Khareef Dhofar visitors

Salalah: A meeting was held today at the Directorate General of Commerce, Industry, and Investment Promotion in Dhofar Governorate. The meeting, which included representatives from various government entities and the private sector, aimed to follow up on work progress during the Khareef Dhofar (monsoon) season and complement ongoing efforts to serve visitors to the governorate. The meeting was chaired by Dr. Saleh Said Masan, Undersecretary of the Ministry of Commerce, Industry, and Investment Promotion for Commerce and Industry. The Undersecretary emphasized the importance of continued provision of essential goods and products, alongside intensified market and commercial outlet inspections to ensure adherence to pricing and service quality. He also stressed the importance of promoting the use of electronic payment methods across various commercial outlets to facilitate shoppers. Furthermore, the Undersecretary discussed with representatives from authorities concerned with providing temporary work licenses the importance of continuing to offer facilities to companies and establishments operating during the season. This aims to ensure the continuity of economic activities and meet visitors' needs. Regarding fuel stations, he urged petroleum marketing companies to monitor stations' readiness daily and ensure the availability of all services to meet the increasing demand during the Khareef season. He emphasized that the unique nature of the Khareef season necessitates continued joint action and an accelerated pace of work, even outside official working hours, to ensure the comfort of visitors and residents from both within and outside Oman.

Oman's central bank issues treasury bills worth OMR22mn
Oman's central bank issues treasury bills worth OMR22mn

Times of Oman

time5 hours ago

  • Times of Oman

Oman's central bank issues treasury bills worth OMR22mn

Muscat: Oman's central bank raised OMR22 million by way of allotting treasury bills on Monday. The value of the treasury bills are for a maturity period of 91 days. The average accepted price reached OMR98.933 for every OMR100, and the minimum accepted price arrived at OMR98.930 per OMR100. The average discount rate and the average yield reached 4.27900% and 4.32514%, respectively. Treasury Bills are short-term highly secured financial instruments issued by the Ministry of Finance, and they provide licensed commercial banks the opportunity to invest their surplus funds. The Central Bank of Oman (CBO) acts as the Issue Manager and provides theadded advantage of ready liquidity through discounting and repurchase facilities (Repo). It may be noted that the interest rate on the Repo operations with CBO is 5.00% while the discount rate on the Treasury Bills Discounting Facility with CBO is 5.50%. Furthermore, Treasury Bills promote the local money market by creating a benchmark yield curve for short-term interest rates. Additionally, the Government may also resort to this instrument whenever felt necessary for financing its recurrent expenditures.

Foundation stone laid for OMR80mn tourism complex in Salalah
Foundation stone laid for OMR80mn tourism complex in Salalah

Times of Oman

time8 hours ago

  • Times of Oman

Foundation stone laid for OMR80mn tourism complex in Salalah

Salalah: The Ministry of Heritage and Tourism celebrated on Monday the laying of the foundation stone for an integrated tourism complex in the Junuf area of Salalah, with an estimated investment of OMR80 million, as part of efforts to develop tourism infrastructure in the Dhofar Governorate. The project is considered a landmark tourism venture due to its prime location and comprehensive facilities in tourism and hospitality. It is being implemented in partnership with Al-Wathba Hospitality Company under a usufruct agreement signed in February 2025. The first phase of the project, scheduled for completion within 30 months, includes the construction of a five-star hotel with 124 guest units, a fully equipped marina with restaurants and cafes, a beach club, a health club, and a main entrance gate for the complex. Azzan Qasim Al Busaidi, Undersecretary of the Ministry of Heritage and Tourism for Tourism, emphasised the project's importance in supporting small and medium enterprises, generating direct and indirect job opportunities, enhancing local content, and providing training and qualification programs for Omani citizens in tourism and hospitality. He added that the project represents a qualitative addition to efforts aimed at developing tourist destinations in the Sultanate of Oman, particularly in Dhofar, which boasts rich natural and environmental diversity. He noted that such projects reflect the government's commitment to economic diversification through investment in the tourism sector. On his turn, Khalid Abdullah Al Abri, Director General of Heritage and Tourism in Dhofar Governorate, stated in his speech that the new tourism project is among the most prominent in the governorate in terms of investment volume and diversity of components. He explained that the first phase will include a five-star hotel and a yacht marina, one of the largest in Oman, along with a fully integrated beachfront, contributing to the enhancement of the governorate's tourism infrastructure. He highlighted the efforts made by the Ministry of Heritage and Tourism in recent years to promote Dhofar as a tourist destination by opening new tourism markets and direct flight routes, which contributed to a 9% increase in visitor numbers during the 2024 Khareef (monsoon) season and an 18% rise in the winter season compared to the previous year. The ceremony featured a promotional video showcasing Dhofar Governorate and another presenting the project's components, followed by the laying of the foundation stone by the Undersecretary of the Ministry of Heritage and Tourism for Tourism. It is worth noting that the project represents a significant addition to Oman's tourism sector, offering integrated facilities, promising investment opportunities, and strengthening public-private partnerships, all of which contribute to boosting tourism activity in Dhofar Governorate.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store