National Bank of Oman (NBO) has taken a significant step towards fostering financial literacy among the youth with the introduction of its latest banking solution, the Youth Account. Tailored for individuals aged 13 to 17, the Youth Account underlines NBO’s commitment to equipping Oman’s young minds with essential financial skills from the early stages of their financial journey.
Ali Mustafa, Assistant General Manager and Head of Private Banking and Segments at NBO, emphasized the bank’s vision, stating, “Empowering the youth is not just about securing their financial future; it’s about shaping a generation of responsible, confident and financially savvy individuals. As a bank that believes in nurturing financial literacy from an early age and promoting financial inclusion, we are excited to offer teenagers a dedicated bank account and Debit Card, allowing them to embark on their financial journey responsibly.”
The Youth Account is designed to cater to the diverse needs of young individuals in the community and is open to both Omani citizens and expatriates, reflecting NBO’s commitment to inclusivity. One of its standout features is the Customized Debit Card, meticulously tailored for everyone, making the banking experience personalized and engaging.
With a focus on simplifying financial transactions, the Youth Account provides the convenience of instant local transfers through the NBO App. The account also eliminates concerns about minimum balance charges, allowing young account holders to concentrate on personal growth without the burden of financial constraints.
Opening an account and downloading the NBO App instantly rewards users with free reward points. Account holders benefit from 3 free monthly cash withdrawals from non-NBO ATMs and exclusive discounts and offers for online shopping. The account also grants access to a range of digital services, including e-commerce, local transfers, and bill payments. The NBO App ensures mobile banking access for both account holders and their parents, ensuring transparency and control over finances.
In summary, the Youth Account by NBO offers a comprehensive suite of features, providing a simplified banking experience and serving as a gateway to financial empowerment and responsibility for the youth of Oman. Through this initiative, NBO aims to contribute positively to the growth of society by nurturing financially literate and responsible individuals from an early age.