Bank Muscat unveils OMR10mn prize money for 2019 al Mazyona scheme

A highlight of al Mazyona celebration included 2018 al Mazyona yearend prizes totaling OMR900,000 ranging from OMR50,000 to OMR500,000 shared by seven customers

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, in step with its vision ‘To serve you better, everyday’, and commitment to promoting a strong savings culture, unveiled 2019 al Mazyona scheme offering for the fourth year in a row OMR10 million prize money to customers across the Sultanate.

Talal bin Said Al Mamari, Chief Executive Officer of Omantel, was the guest of honour at the event held at Oman Convention & Exhibition Centre, in the presence of Sheikh Waleed Al Hashar, Chief Executive Officer, Management Team members and the media.

A highlight of al Mazyona celebration included 2018 al Mazyona year-end prizes totaling OMR900,000 ranging from OMR50,000 to OMR500,000 shared by seven customers. The guest of honour picked the winners.

Reaching out with a powerful call for savings, the 2019 al Mazyona savings scheme include high value prizes for different segments, including women, children, youth and high savings customers.

Rewarding customers across the Sultanate, the bank has lined up the largest number of over 4,400 high value prizes. Compared to 2018, the number of al Mazyona prizes has risen by 30% this year.

Throughout 2019, al Mazyona momentum will be maintained, including monthly prizes totaling OMR 660,000 to be shared by 370 winners, half yearly, end of year and mega prizes ranging from OMR20,000 to OMR250,000.

The 2019 al Mazyona scheme has introduced new prizes in recognition of loyalty, salary transfer and the youth segment. As on date, al Mazyona is the biggest prize money in Oman and the region.

Sheikh Waleed Al Hashar, Chief Executive Officer, said: “Bank Muscat is proud to further enhance the flagship al Mazyona savings scheme with a 30% increase in the number of prize winners in 2019. For over 25 years, al Mazyona has rewarded numerous customers and enriched their lives. Continuing with the tradition of rewarding customers, 2019 al Mazyona scheme is designed to transform the lives of prudent savers. The scheme is targeted to accommodate all 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 OMR47 million in prize money. With guaranteed winners across the Sultanate, the annual prize amount has significantly grown from OMR8 million in 2014 to over OMR10 million this year.

High savings asalah Priority Banking customers have chances to win OMR20,000 monthly prizes, OMR30,000 and OMR100,000 mid-year and end of year prizes.

Prizes reserved for al Jawhar Privilege Banking customers include OMR10,000 monthly prizes, OMR20,000 and OMR50,000 midyear and end of year prizes.

al Mazyona continues to be the only savings scheme to recognise and reward customers for loyalty based on their association with the bank. In a further endorsement of loyalty, the bank has introduced a new quarterly prize draw in which 50 winners will be rewarded with OMR500 each. The prize draw is open to all customers maintaining account with the bank for 10 years and more.

Notably, al Mazyona has further enhanced the salary transfer scheme to double the number of winners with a fixed salary prize of OMR500 every month for a year. The scheme has introduced a new segment of customers drawing salary above OMR1,000, in addition to customers drawing salary below OMR1,000. For eligibility, all that customers need to do is transfer their salary to the bank. In all, 20 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 2019 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.”

Adding excitement to festivals and national celebrations, the 2019 scheme rewards customers with special prizes. A special prize draw offering OMR2,000 each for 50 winners from 14 regions will be held in celebration of Eid Al Adha. An exclusive draw for Zeinah women customers coinciding with the Omani Women’s Day in October is another highlight in which 50 customers will be rewarded with OMR2,000 each. On the occasion of the Sultanate’s 49th National Day, a special draw will be held offering OMR3,000 each for 49 winners. Introducing a new prize in celebration of Omani Youth Day in October, the bank has earmarked OMR500 each for 50 winners.

By maintaining a monthly balance of OMR50, al Mazyona Children’s account holders get a chance to win 50 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 50 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 20 monthly winners in the women category.

Bank Muscat understands customer expectations as al Mazyona 2019 scheme offering over OMR10 million prize money is an incredible incentive for maintaining a healthy savings habit. With attractive prizes, al Mazyona reaffirms the bank’s vision and constant efforts to fulfill the aspirations and ambitions of the largest banking family in Oman.

Win OMR1,000 every month: Customers maintaining a minimum balance of OMR100 get a chance to win OMR1,000 every month. In all, 210 monthly prizes are reserved for customers covering all the regions. The more the balance, higher the winning chances.

Win OMR10,000 mid-year and end of year: In the special midyear and end of year prize draws, customers maintaining a minimum balance of OMR1,000 get a chance to win OMR10,000. In all, 28 mid-year prizes and 28 end of year prizes of OMR10,000 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 Adha. Similarly, 50 Zeinah customers can win OMR2,000 each in the special draw coinciding with the Omani Women’s Day in October and 49 customers can win OMR3,000 each in the special draw coinciding with the 49th National Day. Coinciding with the Omani Youth Day in October, a special draw offering OMR500 each for 50 winners awaits Shababi customers.

Mega mid-year and year-end prizes: The mega mid-year and year-end prizes will be shared by four winners who will receive OMR250,000 each. The mega prize draw is open to all customers maintaining a minimum balance of OMR30,000. 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, mid-year prizes of OMR30,000 each for 10 winners and special mid-year prizes of OMR100,000 each for two customers. The year-end prizes include OMR30,000 each for 10 winners and the special year-end prizes include OMR100,000 each for two winners. 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 exclusive monthly prize draws of OMR10,000 each for 10 customers, mid-year prizes of OMR20,000 each for 10 winners and special mid-year prizes of OMR50,000 each for two customers. The year-end prizes include OMR20,000 each for 10 winners and special year-end prizes include OMR50,000 each for two customers.

Zeinah account holders: Targeted at Zeinah women customers maintaining a minimum balance of OMR100, al Mazyona offers 20 monthly prizes of OMR1,000 each, in addition to an exclusive Zeinah draw coinciding with the Omani Women’s Day offering OMR2,000 each to 50 customers.

Children’s account holders: By maintaining a monthly balance of OMR50, al Mazyona Children’s account holders get a chance to win 50 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 50 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 salary account with the bank in two segments below OMR1,000 and above OMR1,000 are eligible to win a fixed salary prize of OMR500 every month for a full year. All customers who transfer their salary 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 an additional salary prize every month for a year. In all, there will be 20 monthly winners who will receive a salary prize of OMR500 each every month for a year.

Reward for loyalty: In a significant boost to loyalty, the bank has introduced a new quarterly prize draw in which 50 winners will be rewarded with OMR500 each. The prize draw is open to all customers maintaining account with the bank for 10 years and more.

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.