Muscat: Maisarah Islamic Banking Services has announced the 2021 edition of the Prize Account Scheme. The 2021 scheme makes winning easier by providing more chances for customers to win from draws to be held in categories – prizes per branch, grand prizes, special prizes and mega prizes. The scheme had seen over 4,900 winners since 2016, and still counting. The prize scheme will be valid from January 2021 and will run till 31st of December 2021.

Commenting on the 2021 Prize Account Scheme, Nasser Said Al Bahantah, Chief Retail Banking Officer, Maisarah said, “We have gained a lot of attention and positive feedback to our Prize Account Scheme in the last few years. Over the past years, we have seen more than 4,900 winners, and we look forward to see more customers join the winners in this year's scheme. It is very easy to open this account which is based on the Islamic profit sharing concept of Mudarabah. The scheme has been encouraging people to take charge of their finances and rewarding them substantially for their saving habits. Maisarah will continue to provide all customers with the best products and superior experience.”

Customer is entitled to the draw of the Prize Account when an average balance of OMR 100 is available for one week for weekly draws and for a month for other draws. For every OMR 100 of average balance in the account, Customer will get 1 chance to participate in the draw. Anticipated profit rate up to 2.5% p.a. subject to the weightages applicable for each month. Based on the Islamic concept of Mudarabah, this account is Shari’a compliant. The prizes will be given from the shareholders’ funds.

Throughout the year customers have a chance to win from prize draws to be held in every branch. This includes weekly draws, with a total of OMR 171,600 to be held throughout the year during which three winners will from each branch per week will get the chance to win OMR 100 each. The total monthly prizes are OMR 343,200. Under the monthly draw children will get a chance to win OMR 100 each (one winner from each branch per month), one Standard and Affluent Banking customers will get a chance to win OMR 500 each, (one winner from each branch per month), and one Priority Banking customer will get a chance to win OMR 2,000 per branch every month.

Maisarah will hold special prize draws on specific occasions such as Omani Women's Day with a total prize of OMR 11,000, and National Day with a total prize of OMR 55,000. To show appreciation to all women in Oman for their contributions to the society, the Prize Account Scheme will pick one woman per branch who will win OMR 1,000 each. As part of the National Day Draw, five winners from every branch will have the chance to win OMR 1,000 each.

As part of the scheme, Maisarah will conduct Mid-year Prizes with a total amount of OMR 16,000, under which a draw to will be held for children, where one customer will win OMR 1,000. For Standard and Affluent Banking customers, one winner will have a chance to take home OMR 5,000. For Priority Banking customers, one winner will take home OMR 10,000.

Maisarah will also conduct Mega Prize Draws with a total amount of OMR 112,000. The draw will include children draw, in which one customer will take home OMR 2,000. The yearly Mega Prize Draw amount is OMR 10,000 (for standard and affluent banking customers) for one winner each, and OMR 100,000 (for priority banking customers) for one winner.

Prize amounts allocated for the new branches expected to be opened during the year will be distributed through special draws on special events announced during the year.

-End-

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.