BankMuscat supports Environment Society of Oman in Mooring Buoys campaign to protect coral wealth

The initiative is aimed at protecting and preserving the Sultanate's coral wealth by offering a safe alternative to anchor used by dive and leisure boats for mooring.

Oman offers incredible dive locations abounding with fascinating marine environment. However, some of the best-known dive sites in Oman are yet to benefit from mooring buoys to which boats can be secured. This compels boats to use anchors which damage corals and disrupt the ecosystem.

Divers and fishermen often anchor their boats in areas where fragile coral reefs exist. A properly installed mooring buoy will have no negative impact to reefs and can then be used indefinitely, if maintained properly, without any further damage to them. The ESO initiative seeks to greatly minimize damage caused to coral reefs by installing mooring buoys at popular dive sites and fishing areas in selected areas of Oman.

The Mooring Buoys Campaign initiative includes a media campaign to raise awareness among the general public and fishermen of the need to use mooring buoys to protect the Sultanate's precious marine resources. Educative posters promoting the use of mooring buoys will be available at dive centers and boating facilities.

Coral reefs provide shelter and food to a wide variety of marine life and most of the Sultanate's spectacular coral reefs are the result of unhindered growth over hundreds, if not thousands of years.

Damaged corals take decades to recuperate and grow again, resulting in incalculable losses to the surrounding marine ecosystem which affects the livelihood of traditional fishermen.

Shaima Murtadha Al-Lawati, Head of Corporate Social Responsibility in BankMuscat, commented saying:

"Private sector companies can play an active role in the protection of the environment especially that it is becoming a global and local issue. We are pleased to cooperate with the Environment Society of Oman in relation to the protection of Omani rich marine life. This confirms Bank's commitment to contribute to the social responsibility. It is worth mentioning that BankMuscat is the first bank in Oman to adopt the 'Equator Principles' and join the UNEP FI, which assisted the Bank taking on a serious stand on all matters pertaining to the preservation of the environment, both in itself and across the projects, which it chooses to finance."

Hani Habib Macki, Environment Society of Oman, said: "We are delighted with this partnership with BankMuscat, and we look forward to a long lasting relationship to reflect the Bank's attention to environmental issues. We also look forward to further support from BankMuscat towards the Mooring Buoys Campaign in other parts of the Sultanate's seas."

The Corporate Social Responsibility (CSR) of BankMuscat is a commitment to contribute towards sustainable development by working closely with local communities with the aim of improving living standards in a manner that serves the national economy and development process at the same time. Equal consideration is accorded to environmental, social and economic issues when pursuing efforts aimed at achieving development and improving living standards.