Loading ...BMI introduces first of its kind investment plan in Bahrain |
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Return as high as 9% p.a.
Tenor as short as 1 month
Manama, Bahrain, March 26th, 2008: Bahrain based BankMuscat International (BMI)BankMuscat International (BMI)
today announced the launch of a new investment plan that combines fixed deposits with high quality investment options. This product, a new initiative by the private banking unit within BMIBMI, will help in growing customers’ saving by providing them with one of the best returns on Time Deposits (TD) with shorter tenors.
Announcing the new offering, Andrew Bainbridge, Chief Executive Officer of BMIBMI said:
“At a time when interest rates have bottomed out at 2– 3 %, I am delighted to announce this unique offering that will provide our customers with the opportunity to get a return of close to 9 % for a 1 month deposit. BMIBMI is a strong player in the private banking market and we work hard on developing products and services that combine exciting rates with top class investment options which provides an excellent opportunity for high net worth individuals, trusts & estates, as well as Corporates”.
The product entails that the customer commits a minimum of $ 100,000 with BMIBMI, 50 % of which goes to the deposits in one of the 1, 3 and 6 month’s tenors available. The other 50 % is invested into a high quality portfolio of best performing open ended Mutual Funds. BMIBMI has short listed top performing & high rating mutual funds from various world class Fund houses with the aim of offering greater choice to customers in terms of underlying fund & portfolio construction.
This product offering is valid until April 30th, 2008.
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About BankMuscat International (BMIBMI)
BMIBMI, set up in January 2005, is a Retail Bank, registered in Bahrain and regulated by the Central Bank of Bahrain and offers all retail and commercial banking activities. BMIBMI has been set up in association with some of the strongest and most respected financial institutions from across the GCC region including BankMuscat SAOG (Oman), Royal Court Affairs (Oman), Overseas Investment (Bahrain), Istithmar (UAE) and Global Investment House (Kuwait). BMIBMI was set up with a vision to become a dynamic regional bank providing innovative and unique financial solutions. BMIBMI recently received its license to open its first overseas branch in Qatar and to operate an offshore Bank in Seychelles.
For further information, please contact:
Gordon Andrade
Head, Corporate Communications
BMI
E-mail: gordon@bmi.com.bh
Cell: +97339782225,
© Press Release 2008
from ASDA'A Public Relations
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