Ahli Islamic launches Qitaf cash prize account

MUSCAT: Ahli Islamic, the Islamic Banking window of Ahlibank, celebrated the inauguration of the new Shari’a compliant prize draw account ‘Qitaf’ under the patronage of Dr Hamad bin Saeed al Aufi, Minister of Agriculture and Fisheries. The Board of Directors and the Executive Management of the Bank, along with a group of senior guests attended the event at Crowne Plaza, Muscat.

Speaking at the ceremony, Yousuf bin Salim al Rawahi, Deputy General Manager and Head of Ahli Islamic said, “Qitaf, which is based on the Islamic Mudaraba principle, offers customers the opportunity to invest their capital in profitable assets while at the same time giving them the opportunity to qualify for cash prizes, through a draw system, subject to a criteria set by the Bank.”

Qitaf account holders can win valuable prizes worth more than 1 million Omani rial in prizes through a savings and rewards account.

The account holders can withdraw cash through Omannet ATMS across Oman and enjoy free Internet and mobile banking services.

The account holders will be eligible for weekly, monthly, quarterly and special occasion draws from the beginning of 2020. The weekly draws offer guaranteed cash prizes for two winners from each branch of Ahli Islamic. Each winner will be rewarded with RO 250. The monthly draws will be held during eight months of the year. The quarterly draws, which will take place in March, June, September and December will offer a prize money of RO 100,000 each quarter to one winner across the Bank’s branch network.

The bank will conduct a special draw for customers in January 2020, where 50 winners will win 1,000 for each winner with 5 winners from each branch.

A special draw will be held on the occasion of the 50th National Day rewarding 50 winners with RO 2,000 each.

Qitaf account holders are automatically eligible for weekly, monthly and special draws once the average minimum balance of RO 100 is maintained in the account, while the minimum eligibility for the quarterly draw is RO 1,000. With unique savings opportunities coupled with maximum customer convenience, Qitaf is looking to instil a culture of savings among its customers and reward them for their loyalty and support.