Oman Oil marketing Company sponsors the waqf forum on Islamic Economics and Social Investment

Reflecting the importance of waqf and its role in supporting local communities, Oman Oil Marketing Company sponsored the  forum on Islamic Economics and Social Investment, which was designed to highlight the connection waqf shares with corporate social responsibility (CSR) and supporting SMEs. Held at the Shangri-La Barr Al Jissah Resort and Spa, under the patronage of H.E. Sheikh Khalid bin Omar bin Said Al Marhoon, Minister of Civil Services, the event saw participation of senior government officials, policymakers, and Islamic finance experts.

The forum highlighted several themes through a number of wide ranging interactive sessions, including models for successful Islamic trust endowments, methods of supporting SMEs, and ways to improve the effectiveness of Oman’s waqf funds. The forum was held in collaboration with the Islamic Development Bank, the World Bank Group, and the World SME Forum.

Amal Al Ghammari, Communication Executive at Oman Oil Marketing Company, said, “Waqf, which is an Islamic endowment, has been a fundamental resource to fund education, healthcare, public housing, and entrepreneurship since the dawn of Islam. The concept of CSR has been instilled in our society under the name of ‘Waqf’ for more than 1400 years. As a result, it is important that we pay tribute to that history of successful public-private engagement and incorporate lessons from the past to empower us with solutions for the future.”

She added, “Given its integral place in Omani society, our goal in sponsoring this forum was to raise awareness on the importance of waqf and invite the Sultanate’s entrepreneurial community to join us in using the power of CSR to give back to local communities.  Through these highly rated and efficient endowments, we can reach out and make key investments that boost the growth and development of the people we serve.”

A brand firmly based in the Sultanate, Oman Oil Marketing Company has launched a number of important initiative over the years to empower every segment of society to fulfill their aspirations. Those initiatives include the Tasweik campaign, which was launched to support SMEs, and the ‘ahlain Rewards Campaign’ to reward customers with a chance to win high-value prizes with every purchase they make.