MUSCAT, 27 January 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, has further reinforced the reach and appeal of al Mazyona savings scheme, taking the total prize money to over RO 8 million in 2014 compared to RO 7 million in 2013. As on date, the scheme offering more for everyone to share is the biggest prize money in Oman and the region.
Notably, the enhanced prize money will be shared by more winners as customers from all governorates are guaranteed to win prizes ranging from RO 1000 a week to RO 0.5 million at the end of the year. Details of Oman's popular savings scheme offering bigger prize for more winners were unveiled to the media on Monday (27 January 2013) at the bank's head office.
The 2014 al Mazyona scheme reaches out to all individual segments with exclusive prizes earmarked for ladies, youth, children, salary account holders and high savings balance customers in all regions.
Said Al Badai, DGM – Branches, said: “Bank Muscat is proud to further elevate the unique al Mazyona experience. The bank understands customer expectations and al Mazyona 2014 scheme continues to reflect innovative customer segmentation based on two principles - region and demographics – ensuring a higher winning chance to all customers across the Sultanate, including ladies, youth, children, salary account holders and high savings balance customers. The 2014 al Mazyona scheme offers exciting weekly, monthly, quarterly and grand prizes. The simple and flexible scheme was structured after a thorough market survey through an independent market research agency covering Muscat and interior regions. Winning with al Mazyona has never been simpler as customers are not required to block their money for long or wait for a long time to win big prizes."
Al Badai added: “al Mazyona customers have plenty of reasons to smile throughout the year, thanks to the new scheme that offers winning chances for customers in all regions. al Mazyona offers the biggest prize money in the savings scheme history in Oman and the region. The RO 8 million prize money is an incredible incentive for al Mazyona customers."
Win RO 1000 every week: With 16 weekly prizes, including two for Zeinah women customers, reserved for every governorate, customers have a very good chance to win RO 1000 with just a minimum balance of RO 100. Customers get one chance for every RO 100 balance. Women customers are also eligible to participate in the other prize draws in addition to the 2 weekly prizes exclusively reserved for them by becoming a Zeinah account holder.
Win RO 10,000 every month: Customers maintaining a minimum balance of RO 1000 get a chance to win RO 10,000 every month. For every RO 1000 balance, customers are entitled to 10 winning chances. Thirty monthly prizes, including two for asalah Priority Banking customers, totaling RO 300,000, are reserved for the governorates. The more the balance, higher the winning chances.
Win RO 50,000 every quarter: Customers maintaining a minimum balance of RO 1000 for 3 months get a chance to win the big prize of RO 50,000 during the quarters ending March, June and September. A total of 15 quarterly prizes, including 1 for asalah Priority Banking, totaling RO 750,000, are reserved for the governorates. The longer the saving, higher the chances to win.
Year-end prizes RO 1.9 million: The grand year-end prizes total up to a whopping RO 1.9 million to be shared by 14 winners from the governorates and 1 winner from asalah Priority Banking. Customers maintaining a minimum balance of RO 1000 for the last quarter of the year are eligible for the grand prize draw. In all, 14 winners from the governorates will win RO 100,000 each, besides RO 500,000 by an asalah Priority banking customer. Customers get 10 chances for every RO 1000 balance. The higher the balance, higher the chances to win.
asalah Priority Banking customers: The asalah Priority Banking customers maintaining a minimum balance of RO 30,000 are eligible to participate in all al Mazyona prizes, in addition to exclusive prize draws earmarked for them. The high savings balance customers have exclusive monthly prize draw of RO 10,000, RO 50,000 every quarter and an exclusive jackpot year-end prize of RO 500,000.
Salary Account Holders: All customers transferring their salary to the bank have a chance to win a bonus salary every month. There is no limit set for the bonus salary. In all, 30 customers will win one bonus salary every month, equivalent to their salary. There are no minimum balance conditions attached to this scheme and it is open to all customers transferring a minimum monthly salary of RO 500.
Zeinah Account Holders: Targeted at Zeinah women customers maintaining a minimum balance of RO 100, al Mazyona offers two weekly prizes of RO 1000 each.
Children's Account Holders: By maintaining a monthly balance of RO 50, all Children's account holders get a chance to win one of the 20 prizes of RO 100 every month. If the child is celebrating his or her birthday during that month, they also stand a chance to be one of 10 additional lucky winners to receive RO 100 each.
Shababi Account Holders: Youth customers opening a new Shababi account with just RO 10 get a chance to win RO 300 every month. In all, there will be 10 winners every month in the youth category. Shababi account holders are also eligible for other al Mazyona prizes by maintaining a minimum balance of RO 100.
Reward for loyalty: 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 holders and no other bank offers this, as on date.
Certification and validation of al Mazyona draw: In order to maintain the tradition of providing complete transparency of the scheme, Bank Muscat will continue to conduct al Mazyona prize draws at public places and get these tested and certified by external auditors - Price Waterhouse Coopers (PwC) – one of the globally reputed consulting firms. Bank Muscat pioneered this proactive step and is proud to continue this tradition in Oman for communicating good governance and transparency.
Amjad Iqbal Al Lawati, Head – Product & Service Management, said: “During the past 21 years, al Mazyona has rewarded numerous customers and enriched their lives. Big prize money is not the only attraction of al Mazyona, which is designed to transform the lives of prudent savers. The scheme is targeted to accommodate all nationalities and segments, including ladies, youth, children, salary account holders and high savings balance customers, thereby inculcating a strong savings habit among citizens who will be responsible for the future development of Oman. 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.
Over the years, al Mazyona has succeeded in inculcating a strong savings culture in Oman and this was reinforced when the al Mazyona brand won the Best Advertising Campaign of the Year award by Asian Banking & Finance in 2013. The objective of al Mazyona 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 the well-being of their families. The flexible scheme makes regular saving easier and is available across the largest network of 138 branches in Oman.