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Bank Muscat retains biggest OMR10m prize money for 2018 al Mazyona savings scheme
January 17, 2018 | 6:53 PM
by Times News Service
Photo: Supplied
 
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Muscat: Bank Muscat, the flagship financial services provider in the Sultanate, in step with its ‘Let’s Do More’ vision, marked the milestone of over 25 years of partnership in encouraging a savings culture in Oman, with the biggest OMR10 million prize money for 2018 al Mazyona savings scheme.

Dr Madiha bint Ahmed Al Shibaniyah, Minister of Education, unveiled the 2018 al Mazyona savings scheme guaranteeing more prizes for more winners in all regions at a grand ceremony attended by dignitaries, management team members led by Abdul Razak Ali Issa, chief executive, and the media at Royal Opera House Muscat Gardens.

The guest of honour also picked 2017 al Mazyona year-end prizes totalling OMR1.4 million, ranging from OMR50,000 to OMR250,000 shared by 10 customers, on the occasion.

For the third year in running, Oman’s flagship savings scheme has retained the prize money at OMR10 million. As on date, al Mazyona is the biggest prize money in Oman and the region.



Abdul Razak Ali Issa, the chief executive, said: “For over 25 years, al Mazyona has rewarded numerous customers and enriched their lives. Continuing with the tradition of rewarding customers, Bank Muscat is proud to retain the biggest prize money in Oman and the region. Big prize money is not the only attraction of al Mazyona, which is designed to transform the lives of prudent savers. The scheme is targeted to accommodate all nationalities and segments, including ladies, youth, children, high savings balance customers and salary account holders, thereby inculcating a strong savings habit among citizens who will be responsible for the future development of Oman.”

Over the last five years, al Mazyona has rewarded customers with over OMR44 million in prize money. With guaranteed winners across the Sultanate, the annual prize amount has significantly grown from OMR6 million to OMR10 million.

Reaching out with a powerful call for savings, the highlights of 2018 al Mazyona savings scheme include high-value prizes for different segments, including women, children, youth and high saving customers, ranging from OMR1,000 to OMR5,000 monthly prizes, OMR50,000 end of year prizes.

High savings customers of asalah Priority Banking have chances to win OMR20,000 and OMR50,000 monthly prizes, in addition to the end of year prize of OMR500,000.

Prizes reserved for al Jawhar Privilege Banking customers include OMR10,000 and OMR20,000 monthly prizes and OMR100,000 end of year prizes.

Adding excitement to festivals and national celebrations, the 2018 scheme rewards customers with special prizes. al Mazyona continues to be the only savings scheme to recognise and reward loyalty for customers based on their association with the bank.

Notably, al Mazyona has retained an exciting salary transfer scheme to reward winners with a fixed salary prize of OMR500 every month for a year. All that customers need to do is transfer their salary of OMR500 and above to the bank. In all, 10 customers will be rewarded every month in the salary transfer scheme.

Abdullah Tamman Al Mashani, deputy general manager – Institutional Sales & Products Development, said, “At a time when financial rewards and incentives are a premium, Bank Muscat is proud to sustain the unique al Mazyona experience. The bank understands customer expectations and al Mazyona 2018 scheme continues to reflect innovative customer segmentation based on geographic, lifestyle and demographic segmentation, ensuring higher winning chances to customers across the Sultanate, including ladies, youth, children and high savings balance customers.”

A special prize draw offering OMR2,000 each for 50 winners from 14 regions will be held in celebration of Eid Al Fitr. An exclusive draw for Zeinah women customers coinciding with the Omani Women’s Day in October is another highlight in which 20 customers will be rewarded with OMR5,000 each. On the occasion of the Sultanate’s 48th National Day, a special draw will be held offering OMR3,000 each for 48 winners.

By maintaining a monthly balance of OMR50, al Mazyona Children’s account holders get a chance to win 40 monthly prizes of OMR100 each. al Mazyona children’s account holders are also eligible for other al Mazyona prizes where they will get 2 chances by maintaining a minimum balance of OMR100.

Youth customers opening a Shababi account with just OMR10 get a chance to win OMR100 every month. In all, there will be 40 winners every month in the youth category. Shababi account holders are also eligible for other al Mazyona prizes by maintaining a minimum balance of OMR100.

By maintaining a minimum balance of OMR100, Zeinah women customers have the chance to win OMR1,000 monthly prizes. In all, there will be 10 monthly winners in the women category.

The OMR10 million prize money will be shared by more winners as customers from all regions are guaranteed to win prizes.

Abdulnasir Al Raisi, DGM – Premier Banking, said: “Bank Muscat understands customer expectations as al Mazyona 2018 scheme offering OMR10 million prize money is an incredible incentive for maintaining a healthy savings habit. Committed to further enhancing banking services to the premier segment, the bank’s strategy focuses on differentiated and specialised banking experience distinguishing Premier banking clients from competitors.”

Win OMR1,000 every month: Customers maintaining a minimum balance of OMR100 get a chance to win OMR1,000 every month. In all, 140 monthly prizes are reserved for customers covering all the regions. The more the balance, higher the winning chances.

Win OMR5,000 every month: In the special monthly prize draw, customers maintaining a minimum balance of OMR1,000 get a chance to win OMR5,000 every month. In all, 28 monthly prizes of OMR5,000 each are reserved for customers covering all the regions.

Win & celebrate during festivals and National Day: Customers maintaining a minimum balance of OMR1,000 get a chance to win OMR2,000 each to be presented to 50 customers during Eid Al Fitr. Similarly, 20 Zeinah customers can win OMR5,000 each in the special draw coinciding with the Omani Women’s Day in October and 48 customers can win OMR3,000 each in the special draw coinciding with the 48th National Day.

Year-end prizes: The year-end prizes will be shared by seven winners, including four customers receiving OMR50,000 each. In the high-value savings segment, OMR100,000 each will be presented to two al Jahwar customers and OMR500,000 to one asalah Priority banking customer.

asalah Priority Banking customers: The asalah Priority Banking customers maintaining a minimum balance of OMR30,000 are eligible to participate in all al Mazyona prize draws, in addition to exclusive draws earmarked for them. The high savings balance customers have exclusive monthly prizes of OMR20,000 each for 10 customers, special monthly prizes of OMR50,000 each for two customers and a year-end prize of OMR500,000 for one winner.

Al Jawhar Privilege Banking: Al Jawhar Privilege Banking customers maintaining a minimum balance of OMR10,000 in their savings accounts are eligible to participate in all al Mazyona prize draws, in addition to exclusive monthly prizes of OMR10,000 each for 10 customers, special monthly prizes of OMR20,000 each for two winners and end of year prizes of OMR100,000 each for two customers.

Zeinah account holders: Targeted at Zeinah women customers maintaining a minimum balance of OMR100, al Mazyona offers 10 monthly prizes of OMR1,000 each, in addition to an exclusive Zeinah, draw coinciding with the Omani Women’s Day offering OMR5,000 each to 20 customers.

Children’s account holders: By maintaining a monthly balance of OMR50, al Mazyona Children’s account holders get a chance to win 40 monthly prizes of OMR100 each. al Mazyona children’s account holders are also eligible for other al Mazyona prizes by maintaining a minimum balance of OMR100.

Shababi account holders: Youth customers opening a Shababi account with just OMR10 get a chance to win OMR100 every month. In all, there will be 40 winners every month in the youth category. Shababi account holders are also eligible for other al Mazyona prizes by maintaining a minimum balance of OMR100.

Salary transfer scheme: Customers maintaining a salary account of OMR500 and above with the bank are eligible to win a fixed salary prize of OMR500 every month for a full year. All customers who transfer their salary of OMR500 and above to Bank Muscat get a chance to win the salary prize every month for a year. While customers earn their salary only once a month, Bank Muscat offers them a chance to win a salary prize every month for a year. The prize scheme is open to all customers with a minimum monthly salary of OMR500. In all, there will be 10 monthly winners who will receive a salary prize of OMR 500 each every month for a year.

Reward for loyalty: A continuing attraction is that the winning chances get multiplied by the number of years customers are associated with al Mazyona savings scheme. For example, if a customer has been saving for 5 years, his chances of winning get multiplied by 5 times and similarly if he has been maintaining al Mazyona savings account for 20 years, his chances get multiplied 20 times and so on. This benefit is unique only to al Mazyona savings scheme and no other bank offers this, as on date.

al Mazyona has succeeded in inculcating a strong savings culture in Oman. The objective is to create a lifetime change for winners and allow them to invest the prize money in things that will make a lasting difference and well-being of their families. The underlying principle of the scheme is that the greater the deposit balance and longer the relationship, the higher the chance of rewards. Customers can win more by saving more with Bank Muscat. The flexible scheme makes regular saving easier and is available across the largest network of branches in Oman.



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