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Tackling the need for a greater financial awareness amongst local youth, BP Oman collaborated with Youth Vision to conduct a financial management initiative for students of higher education across Oman. Inspiring financial prudence and a greater understanding of investments, the Baisa Programme’s workshops have to date reached over 400 students at events in Muscat, Buraimi, Nizwa, Ibri, Sur, Sohar, Salalah and Rustaq, according to a press release.

With the support of BP Oman’s Social Investment Programme, Youth Vision’s most recent workshops were held at Salalah College of Technology, Salalah College of Applied Sciences and Dhofar University. In addition, a further workshop has been organised at Ibri College of Technology.

“Financial literacy should be a core value of our youth’s education, because as we all know, managing finances in the modern world is an essential everyday task with a variety of significant impacts. Youth’s financial acumen will have a great influence on their future and the future of our economy; therefore by providing them with greater awareness on monetary matters we lay a strong foundation for an ever advancing socio-economic landscape upon which communities can build their competency in financial stability,” said Shabib Al Maamari, Communications & External Affairs Manager at BP Oman.

Domestic financial reports from the National Centre for Statistics & Information demonstrate that consumer loans in Q2 2015 grew by 9.7% on the corresponding period in 2014, representing 39% of all bank-based credit to the value of RO 7 billion.

Ibrahim Al Hinai, Public Relations Specialist at Youth Vision, commented, “We think that including an element of financial management into local school and college curricula will be of great impact in raising awareness of this issue at earlier stages of life.”

He further said, “We hear the global financial industry express how ‘the youth have a right to safe, accessible financial services’, but more importantly and as a precursor to that, we must empower the younger generation as productive and responsible economic citizens. Financial security is an imperative, and through the support of BP Oman’s Social Investment Programme we have significantly contributed in raising the level of awareness for hundreds. BP Oman’s recent request for external proposals on social investment initiatives further demonstrates its commitment and readiness for partnership as it gives back to local communities with new innovative approaches to education, enterprise development and sustainable energy practices. I believe that Omani companies like us should utilise this initiative as one of significance.”

BP Oman’s social investment programme is delivered in collaboration with INJAZ Oman as Executive Partner. The Baisa Programme is one of the national initiatives supported by BP Oman’s Social Investment Programme, implemented by Youth Vision, an Omani institute centered on capability development, which was established in 2010 with the aim of building a generation of charismatic youth. The company integrates different age groups through specialized programmes and community partnerships, delivering a broad scope of initiatives, such as training courses, forums, conferences, seminars, lectures, exhibitions and awareness campaigns centered on the advancement of young people.