Meethaq celebrates Hibati savings scheme with first monthly draw

MUSCAT: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, marked a celebration to raise awareness on the unique Hibati savings scheme offering the largest number of prizes in the Islamic banking segment. Highlighting the theme ‘Everybody is a winner with Hibati savings scheme’ the family event organised at Al Marsa Plaza, Al Mouj evoked a large turnout of customers.
Setting the tone for the attractive prize scheme, the first monthly prize draw was held at the event in which 10 customers were rewarded with RO 1,000 each. With a total prize amount of over RO 1 million, Hibati has lined up 5,340 prizes to be won during the year.
Abdulwahid al Murshidi, DGM — Islamic Personal Banking, said: “In keeping with Meethaq’s leadership position in launching innovative products and services focused on the needs of customers, the Hibati savings scheme is the first-of-its-kind aimed at helping customers realise their aspirations and thereby boost the savings culture in Oman. Ensuring banking inclusiveness, Hibati stems from Meethaq’s commitment to reciprocate in giving back to the community with a much broader savings scheme with cash prizes shared by the largest number of winners at higher frequency. The Sharia compliant scheme encourages Islamic savings deposits with attractive rewards, including Mudarabah profit as well as chances to win cash prizes as Hiba or gift from the bank.” Hibati rewards customers with attractive weekly, monthly and annual prizes. Keeping in view the market feedback that customers prefer more prizes at shorter frequency, Hibati savings prize account was launched by the bank in line with its vision ‘To serve you better, everyday’ and commitment to partnership in promoting a healthy savings habit in Oman.
The weekly draw rewards 100 customers with RO 100 each. In all, 5,200 prizes await customers in the weekly draws totalling RO 520,000. The monthly prizes include RO 1,000 each for 10 winners. A total of 120 customers will be rewarded in the series of monthly prize draws. Whipping up excitement, the exciting annual prizes range from RO 5,000 each for 10 winners, RO 10,000 each for four winners, RO 25,000 each for three winners, RO 50,000 each for two winners and the mega RO 100,000 for one winner.
The eligibility for the weekly and monthly prize draw is RO 100 minimum weekly/monthly average balance in Hibati savings account. For the annual prize of RO 5,000, a minimum average balance of RO 500 entitles customers to one chance in the annual draw. To win RO 10,000, a minimum average balance of RO 1,000 is to be maintained. The eligibility for the prize of RO 25,000 is a minimum average balance of RO 5,000 and for RO 50,000 prize, a minimum average balance of RO 10,000 is to be maintained.