Bank Muscat is the leading financial services provider in the Sultanate of Oman with a strong presence in corporate banking, retail banking, investment banking, treasury, private banking and asset management. The bank, with assets worth US$28.1 billion in 2016, has the largest network in Oman exceeding 130 branches, 386 ATMs, 131 CDMs and 4500 PoS terminals as well as a brokerage subsidiary Direct. The international operations consist of a branch each in Riyadh, Saudi Arabia and Kuwait and a representative office in Dubai, UAE. Bank Muscat currently owns 49% of BMI Bank B.S.C ”, an independent bank in Bahrain. The Bank also has a 43% stake in the Mangle Kasha Group, one of the oldest and most respected securities houses in the fast-growing Indian equities market, 97% stake in Muscat Capital LLC, a brokerage and investment banking entity in Saudi Arabia, besides a stake in Silk bank Ltd. in Pakistan. Bank Muscat holds the rare distinction of being voted the ‘Best Bank in Oman’ for seven years by The Banker, FT London; nine years in a row by Global Finance and Euro money Bank Muscat is the recipient of the Hewitt recognition as the Middle East’s Best Employer 2009. The Bank was declared an Investor in People (IiP) organization in January 2007, becoming the first banking organization in the MENA region to be awarded the global recognition. In 2004, Bank Muscat became the first bank in the Middle East to be completely ISO 9000:2000 certified.
MUSCAT, 12 November 2017 ‘ Bank Muscat, the flagship financial services provider in the Sultanate, has evoked good response from sports teams across the Sultanate to 2018 Green Sports programmer. Coinciding with the 35th anniversary of the bank and marking the seventh year of the unique CSR initiative, Bank Muscat will support the development of 15 football fields across the Sultanate in 2018 in line with the ‘Let’s Do More’ vision and partnership to promote Oman as a sporting nation.
Green Sports application forms can be downloaded from the Bank Muscat website www.bankmuscat.com and are also available at the CSR Department in the bank’s head office and branches across the Sultanate. The bank will consider only new applications and the last date for submission of completed forms with supporting documents at the head office is 23 November 2017.
The Green Sports initiative launched by Bank Muscat in 2012 has gained momentum with a total of 78 sports teams across the Sultanate benefiting from the support till date. The scope of Green Sports support for sports teams include greening of football fields with natural or synthetic turf, floodlights or water desalination equipment in areas facing problems of water salinity. Ensuring wider representation, the Green Sports support is extended to develop sustainable sports infrastructure in all parts of the Sultanate.
The criteria for availing the Green Sports support include that sports teams should have been in existence for three years with a minimum of 300 members from the local community. The bank recognizes that local teams wield immense influence on neighborhood communities, especially youth, hence teams with modern infrastructure facilities can help raise sporting heroes for the country.
In a unique contribution, the Green Sports initiative has created an ideal platform for social engagement among youth. The football fields developed as part of the Green Sports initiative are serving as a meeting place for children and youth to be engaged in social activities leading to development of strong community bonding and positive character traits. The fields are used to host various activities such as Ramadan nights, group weddings and other community celebrations.
Committed to its ‘Let’s Do More’ vision for the community and the nation, Bank Muscat is proud to have led the way in contributing to sustainable development in Oman with various initiatives. As the nation’s leading financial institution, Bank Muscat aims to provide the impetus for youth to excel in all arenas and thereby contribute to the development and progress of Oman.
For any enquiries on Green Sports registration, Bank Muscat officials can be contacted on 24768987 or 24768505.
About Us
With assets worth over USD 27 billion, bank Muscat is the leading financial services provider in Oman with a strong presence in Corporate Banking, Retail Banking, Investment Banking, Islamic Banking, Treasury, Private Banking and Asset Management. The Bank has the largest network of 149 branches, 645 ATMs & CDMs and more than 10,000 PoS terminals.
The international operations consist of a branch each in Riyadh (Kingdom of Saudi Arabia), Kuwait and a Representative Office each in Dubai (UAE) and Singapore. Muscat Capital LLC, a 100% subsidiary of bank Muscat, is a brokerage and investment banking entity in Saudi Arabia.
Literature review
According to Edward (1993) Employees don’t work for free, most businesses are not volunteer services, so you have to compensate them in some way for their time and efforts that we call rewards. Rewards systems are often used within organizations as a key management tool that can affect a firm’s effectiveness by influencing employees ,behavior and motivating employees at their work place (Ibrar, Owais 2015). The Nathaniel et al. (2010) authors defined the rewards is the method of evaluating and compensating employees based on their performance. Tze et al. (2012) further said that Reward is the compensation which an employee receives from an organization for exchanging of the service offered by the employee or as the return for the work done. The author Arran et al. (2015) defined rewards include all the valuable outcomes that employees derive from their work, including base pay, incentives, non-salary benefits. The author Puwanenthiren (2011) concluded that the higher will be the employ reward the more the employ will be motivated and Lower the employee rewards lead to lower the Employee Motivation. According to Rizwan and Us man (2010) said that the reward system can motivate an employee in the organization. In other words, reward systems seek to attract people to join the organization to keep them coming to work, and motivate the employees to perform to best levels (Puwanenthiren 2011).Reward can increases worker performance and the rewards can improve employee performance in very best manner (Arran et al. 2015). Rewards is a part of the business plan by which we can attract, retain and motivate the employees to achieve their success in our life'
as well as contributing in meeting the company’s objective (Ong et al. 2012)
According to Ibrar and Owais (2015) there are two types main rewards.
1) The intrinsic rewards (Non-Financial rewards)
2) The extrinsic rewards (Financial rewards)
The intrinsic rewards (Non-Financial rewards):
Non-financial rewards are non-cash and it is a social recognition such as acknowledgement ,certificate, and genuine appreciation etc, only the financial rewards are not important the employees also giving more value to the attitude and behavior their managers. Ibrar and Owais( 2015).Tze et al. (2012) mention that The support and recognition given by leader play very important role in the motivation of the organization employee
The extrinsic rewards (Financial rewards):
Extrinsic rewards are tangible rewards and these rewards are external to the job or task performed by the employee. External rewards can be in terms of incentives, bonuses, promotions, job security, etc. (Nadia et al, 2011)
In May 2015 according to Human Recourse perspectives, rewards can be either intrinsic or extrinsic system. Intrinsic rewards system from rewards that is inherent in the job itself and which the individual enjoys as a result of successfully completing the task or attaining his goals. While extrinsic rewards are those that are external to the task of the job, such as pay, work condition, fringe benefits, security, promotion, contract of service, the work environment and conditions of work. Such tangible rewards are often determined at the organizational level, and may be largely outside the control of individual managers. Intrinsic rewards on the other hand, are those rewards that can be termed ‘psychological rewards’ and examples are opportunity to use one’s ability, a sense of challenge and achievement, receiving appreciation, positive recognition, and being treated in a caring and considerate manner. With this in mind, Chapter One presents the problem statement, purpose of this study, research objectives, research questions and significance of the study.
various studies such as Dewhurst, Guthridge, and Mohr, (2009) conclude that an adequate the system itself varies from organisation to organisation because people working in an organisation have different personalities as well as personal preferences. Some prefer monetary rewards as motivation while other may prefer nonmonetary rewards. However, the common aspect of all reward system is that it has policiesregarding personal and professional development of employees and is aimed to motivate them for continuous improvement. Sheilds and associates (2015) concluded in their study that reward system should be designed in a way that it caters the needs of the employees that it aims to reward. There are some employees whose needs can only be fulfilled through cash rewards while there are also some others whose needs are different and cannot be fulfilled by cash rewards instead they need different rewards such as promotions, appreciation, increase in responsibility, assignment of important projects, training and development , among others.
Research methodology
The process used to collect information and data for the purpose of making business decisions. The methodology may include publication research, interviews, surveys and other research techniques. In addition, study of methods by which knowledge is gained and aim is to give the work plan of research.
1-Sampling unit:
The sampling unit for our project would be workers (employees) from bank Muscat.
2-sample size:
We have collected information from 30% of bank Muscat employees means 115 employees randomly
3-Data collection methods:
Primary Data:
In our study, we used the questionnaire as primary sources of data to collect information from different employees inside bank Muscat.
Secondary Data:
In our study we collect information from different secondary data such as ( Books, internet, journals, newspapers, magazines).
4-Sample method:
Simple random sampling.