MUSCAT -- Oman Arab Bank, one of the leading banks in Oman has launched yet another insurance product in partnership with one of the fastest growing insurance companies in Oman, Al Madina Gulf Insurance under the brand name of 'Al Musaned'. 'Al Musaned' is a unique insurance product available through the banking platform of OAB. 'Al Musaned' provides account holders of OAB an insurance protection at a very affordable price through any of Oman Arab Bank's branches across the Sultanate.
"It will now be possible for the customers of OAB to plan the future and get the peace of mind by giving protection to their family and loved ones. Customers can avail from a range of options available and will have the flexibility of premium payments either monthly or yearly for better financial Management," pointed out Abdul Kader Askalan, CEO of Oman Arab Bank.
Describing this as a key initiative, AMGI Chief Executive Officer, Ravi Shankar said, "The hallmark of this product would be the ease with which the customer can obtain this policy by signing a simplified proposal form. The product offers vital insurance protection at a very low and affordable price." 'Al Musaned' will provide indemnity in the event of death of the account holder and/or spouse due to any natural and accidental cause, subject to the limits chosen. This product provides ease of administration, customer convenience and most importantly affordable price plan.
Rashad al Shaikh, Head of Retail Marketing and Business development, Oman Arab Bank added, "The partnership between Oman Arab Bank and AMGI will bring financial security to a large number of families in Oman. This product is expected to meet the demand for a straight forward and affordable insurance cover against accidental or natural death in the family."
Oman Arab Bank is part of the Arab Bank Group with over 400 branches worldwide and Al Madina Gulf Insurance Co SAOC is a composite insurance company offering wide variety of products. The convergence and melding of the strengths of Al Madina Gulf Insurance and Oman Arab Bank is expected to give boost to the family insurance protection concept and will provide a very good opportunity to many families to have security, protection and peace of mind.
By Staff Reporter
© Oman Daily Observer 2009
