Maisarah conducts third OMR50,000 Grand Draw for Prize Account Scheme

MUSCAT: Maisarah Islamic Banking Services recently conducted its third Grand Prize Draw for the 2018 Prize Account Scheme in which a customer won OMR50,000. The draw was conducted in As Sunaysilah Castle, Sur, under the patronage of Sheikh Amer Bin Said Al Mashrafi, Member of Shura Council and Wilayat of Sur Representative. The event saw a large turnout of Maisarah customers and residents from the region.

Congratulating the winners, Muhammad Al Mashani, Executive Manger Retail Business and Channels of Maisarah Islamic Banking Services, said: “The Prize Account is part of a bigger savings scheme that is based on the Islamic Mudarabah principle, wherein customers share attractive expected profit. We aim to encourage the culture of saving and to promote good financial management habits among the public.”

The exclusive feature of Maisarah Prize Account is that customers are eligible for the expected profit of up to 3% per annum on their deposits maintained in the account, and Maisarah is giving away this prize from its own sources which is the shareholder funds. During the event, Maisarah also conducted the special draw for Eid Al Adha where 5 customers won OMR2,500 each, bimonthly draws of OMR1,000 for 5 winners along with the monthly and weekly draws.

The prize account is based on the Islamic profit sharing concept of Mudarabah. Customers need to maintain a minimum balance of OMR100 in their accounts for 30 days. For every OMR100 balance, they get one chance to win. Priority banking customers, however, get 3 chances for every OMR100 maintained in their account. The more the customers’ save, the greater their chances of winning. The winners are randomly selected from each branch by an automated system in sync with the approved procedures for the draw.

This year, the total amount to be won under the weekly draw is OMR65,000, where 260 customers will have a chance to win OMR250 each through 52 draws to be held throughout the year. Under the monthly draw the total amount to be won is OMR30,000, for 60 customers (OMR500 each). Under the bi-monthly draw 30 customers have a chance to win OMR30,000 (OMR1000 each). Five winners will be picked during each weekly, monthly and bi-monthly draw. Maisarah will also conduct special draws for Eid Al Fitr and Eid Al Adha, during which 10 winners can take home OMR2,500 each. Additionally, the total amount of the Grand Prizes is OMR250,000 for 5 winners (OMR50,000 each).

Maisarah is a full-service provider of a broad range of Shariacompliant financial products and solutions. Maisarah maintains a complete segregation of business activities in order to provide Sharia compliant financial services to its valued customers. As a part of its strategy, the Islamic banking window has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets. As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.

Maisarah provides customers with convenient banking experience through its Mobile Banking App; customers may conduct banking transactions, anywhere and anytime. The user friendly mobile banking app, which is available to all Maisarah’s retail banking customers, supports English and Arabic language. The app provides simple, secure and efficient convenience banking to the customers with a number of benefits and features. They can view their balance and transactions, make instant transfers, cardless cash, transfers, pay utility bills, view online statements and do much more.