Alizz to conduct 1st Bushra Savings Account grand prize draw tomorrow
Bushra Savings Account is based on the Sharia principle of ‘Mudaraba’ whereby the bank invests customer savings in Sharia-compliant financing to generate the best possible returns and profits
MUSCAT: Under the auspices of Said bin Saleh bin Said Al Kiyumi, chairman of Oman Chamber of Commerce and Industry, Alizz Islamic Bank will conduct the first Bushra Prize Savings Account grand prize draw for OMR100,000 at Al Yoobil Park in Sohar tomorrow.
As part of the event, the weekly, monthly and quarterly Bushra Prize Savings account draws will also be held, offering weekly prizes worth OMR3,000 with each winner receiving OMR1,000. One winner will be selected for the OMR25,000 monthly prize and another for OMR50,000 quarterly prize, says a press release.
Entertaining activities
The event will also see a lot of children’s games and activities such as jumping castles, horse riding, stall games and much more from 4pm in the afternoon until 10pm in the evening. Earlier, Alizz announced the launch of the first Sharia-based Bushra Savings Account in the Sultanate, approved by the Sharia Supervisory Board. This launch comes in line with the bank’s plans to deliver innovative and high-quality products and exceptional customer experience.
Bushra Savings Account is based on the Sharia principle of ‘Mudaraba’ whereby the bank invests customer savings in Shariacompliant financing to generate the best possible returns and profits. The customer acts as a capital provider while the bank takes up the role of ‘Mudarib’ or entrepreneur. All customer funds along with the bank’s own capital will be pooled and invested in Shariacompliant modes of investment and the resulting profit is shared between the bank and customers according to predetermined ratios. All cash prizes are gifted from shareholders’ funds.
Moosa Al Jadidi, chief operating officer, Alizz Islamic Bank, said: “We have more than 26 products designed to cater to the different needs of all customers. This campaign reiterates our commitment to our customers and our efforts to respond to their enquiries.”