brings back RO 10 million prize money for 2017 al Mazyona savings scheme
MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in step with its ‘Let’s Do More’ vision and commitment to partnership in encouraging a savings culture in Oman, is back with RO 10 million prize money for 2017 al Mazyona savings scheme.
His Highness Mohammed bin Thuwaini al Said unveiled the 2017 al Mazyona savings scheme and picked 2016 al Mazyona year-end prizes totalling RO 1 million shared by two customers, at the grand ceremony attended by dignitaries, Management Team members led by AbdulRazak Ali Issa, Chief Executive, and the media at Al Mouj Golf, The Wave.
For the second year in running, Oman’s flagship savings scheme retained the prize money at RO 10 million. As on date, al Mazyona savings scheme guaranteeing more for everyone to share is the biggest prize money in Oman and the region.
AbdulRazak Ali Issa, Chief Executive, said: “Continuing with the tradition of rewarding customers, Bank Muscat is proud to retain the biggest prize money in Oman and the region. For over 25 years, al Mazyona has rewarded numerous customers and enriched their lives. 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.”
Reaching out with a powerful call for savings, the highlights of 2017 al Mazyona savings scheme include high value prizes for different segments, including women, children, youth and high saving customers, ranging from RO 1,000 weekly prizes to RO 10,000 monthly prizes, RO 25,000 quarterly prizes and RO 100,000 annual prizes.
Adding excitement to festivals and national celebrations, the 2017 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.
High savings customers of asalah Priority Banking have chances to win RO 30,000 monthly prizes, RO 100,000 quarterly prizes, and RO 250,000 yearend prizes.
Prizes reserved for al Jawhar Privilege Banking customers include RO 20,000 monthly prizes and RO 50,000 quarterly prizes.
Notably, al Mazyona has launched an exciting salary transfer scheme to reward winners with a fixed salary prize of RO 500 every month for a year. This is the first time a prize scheme offering a fixed salary prize every month is being introduced in Oman. All that customers need to do is transfer their salary of RO 500 and above to the bank. In all, 15 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 2017 scheme continues to reflect innovative customer segmentation based on two principles - region and demographics – ensuring a higher winning chances to customers across the Sultanate, including ladies, youth, children and high savings balance customers.”
A special prize draw offering RO 3,000 each for 42 winners from 14 regions will be held in celebration of Eid Al Fitr in June. An exclusive draw for Zeinah women customers coinciding with the Omani Women’s Day in October is another highlight in which 10 customers will be rewarded with RO 10,000 each. On the occasion of the Sultanate’s 47th National Day, a special draw will be held offering RO 2,000 each for 47 winners.
By maintaining a monthly balance of RO 50, al Mazyona Children’s account holders get a chance to win 40 monthly prizes of RO 100 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 RO 100 .
Youth customers opening a Shababi account with just RO 10 get a chance to win RO 100 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 RO 100.
The RO 10 million prize money will be shared by more winners as customers from all regions can win prizes ranging from RO 1,000 a week to RO 10,000 a month, RO 25,000 every quarter and RO 100,000 at the end of year.
Abdulnasir al Raisi, DGM — Premier Banking, said: “Bank Muscat understands customer expectations as al Mazyona 2017 scheme offering RO 10 million in prize money is an incredible incentive for maintaining a healthy savings habit. al Mazyona ensures higher winning chances to all customers across the Sultanate. Bank Muscat is delighted to elevate Premier banking service to unparalleled heights. 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 RO 1000 every week: With 28 weekly prizes reserved for regions, customers have a very good chance to win RO 1000 with just a minimum balance of RO 100. Customers get one chance for every RO 100 balance. Women customers are eligible to participate in the other prize draws in addition to the two weekly prizes exclusively reserved for them by becoming a Zeinah account holder.
Win RO 10,000 every month: Customers maintaining a minimum balance of RO 1000 get a chance to win RO 10,000 every month. For every RO 1000 balance, customers are entitled to 10 winning chances. In all, 28 monthly prizes, are reserved for customers covering all the regions. The more the balance, higher the winning chances.
Win & celebrate during festivals and National Day: Customers maintaining a minimum balance of RO 1000 get a chance to win RO 3,000 each to be distributed to 42 customers during Eid Al Fitr in June. Similarly 10 Zeinah customers can win RO 10,000 each in the special draw coinciding with the Omani Women’s Day in October and 47 customers can win RO 2,000 each in the special draw coinciding with the 47th National Day.
Year-end prizes: The year-end prizes will be shared by six winners, including two winners receiving RO 100,000 each, and RO 1 million to be distributed to 4 asalah customers, each winning RO 250,000. Customers maintaining a minimum balance of RO 1,000 are eligible for the annual prize draw. Customers get 10 chances for every RO 1000 balance. The higher the balance, higher the chances to win.
Asalah Priority Banking customers: The asalah Priority Banking customers maintaining a minimum balance of RO 30,000 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 RO 30,000, quarterly prizes of RO 100,000 and year-end prizes worth RO 1 million to be distributed to 4 customers, each winning RO 250,000.
Al Jawhar Privilege Banking: Al Jawhar Privilege Banking customers maintaining a minimum balance of RO 10,000 in their savings accounts are eligible to participate in all al Mazyona prize draws, in addition to exclusive monthly prizes of RO 20,000 and quarterly prizes of RO 50,000.
Zeinah account holders: Targeted at Zeinah women customers maintaining a minimum balance of RO 100, al Mazyona offers two weekly prizes of RO 1000 each, in addition to an exclusive Zeinah draw coinciding with the Omani Women’s Day offering a total of RO 100,000 to be shared by 10 winners.
Children’s account holders: By maintaining a monthly balance of RO 50, al Mazyona Children’s account holders get a chance to win 40 monthly prizes of RO 100 each. al Mazyona children’s account holders are also eligible for other al Mazyona prizes by maintaining a minimum balance of RO 100.
Shababi account holders: Youth customers opening a Shababi account with just RO 10 get a chance to win RO 100 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 RO 100.
Salary transfer scheme: Customers maintaining a salary account of RO 500 and above with the bank are eligible to win a fixed salary prize of RO 500 every month for a full year. All customers who transfer their salary of RO 500 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 RO 500. In all, there will be 15 winners every month who will gain a salary prize of RO 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.
Over the years, al Mazyona has succeeded in inculcating a strong savings culture in Oman. The objective of al Mazyona 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 the 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 across Oman.