MUSCAT, 1 April 2012 – Bank Muscat, the flagship financial services provider in
the Sultanate, feted winners of Themaar Higher Education Savings Plan and
Themaar Retirement Savings Plan prize winners. The prize distribution ceremony
at the head office was attended by senior bank officials.
Three customers won the special Themaar
annual higher education scholarships worth RO 10,000 each available for those
opting for a Themaar plan of 5 years or more. Ten customers of Themaar
Retirement Savings Plan won holiday packages worth RO 500 each.
Said Al Aufi, DGM – PMO, Planning &
Control, said: “Bank Muscat is proud to offer Themaar Savings Plan for higher
education and retirement in line with the bank’s strategy to inculcate prudent
savings habit. Many people fail to plan for the future of their children and
save toward their own retirement years. The Themaar Savings Plan addresses this
critical need and helps customers to supplement their income so that they can
ensure a bright future for their children and maintain a comfortable lifestyle
even after they retire.”
Omar Nasser, father of 6-month-old Al Yaman, who was
one of the 3 winners of RO 10,000 each, said: “Themaar opens up a great
opportunity for the future of children. Quality education is the key to a secure
future for all and Themaar makes it surprisingly affordable by encouraging a
strong savings habit. Notably, Themaar helps customers to tap their own savings
instead of resorting to loans while sending children for higher education at
home or abroad.”
Notably, Themaar serves as a proper
financial security for higher education. The nominal monthly amount invested on
behalf of the beneficiary i.e. children, grows into a substantial lump-sum. The
attractive benefits include a handsome bonus on maturity of the scheme.
Customers can earn bonus on monthly deposits and all the monthly deposits made
by them are fully protected throughout the term, even if they wish to
prematurely withdraw in the middle of the term.
The scheme offers waiver of future
monthly deposits in the event of death of the family’s breadwinner (customer who
has opened the Themaar Savings plan), while guaranteeing a lump-sum amount to
the beneficiary on maturity of the savings plan. The monthly savings also become
automatically eligible to participate in the exciting al Mazyona draws offering
weekly, monthly quarterly and year-end prizes.
Breaking away from conventional products,
the Themaar Retirement Savings Plan offers flexibility in choosing the monthly
deposit amount, savings term and pension term according to the convenience and
financial ability of customers. Notably, the Bank Muscat retirement plan also
provides guaranteed bonus and chances to participate in al Mazyona prize draws,
in addition to 10 holiday packages worth RO 500 each.
With guaranteed bonus, Themaar customers
can enjoy additional rewards on all monthly deposits throughout the savings
term, plus an extra reward at the end of the pension term. Themaar also provides
100 per cent protection of deposits throughout the term period. The Themaar
retirement plan is open to citizens and expatriates.
Hamad al Uwaisi, one of the prize winners
from the wilayat of Jaalan Bani bu Hasan said: “Most people consider that
retirement planning can be put off till they are about to retire. They do not
realise that on average, one spends 25 per cent to 30 per cent of life in
retirement, requiring vast sums of money to support themselves. I am happy that
the timely investment in Themaar Retirement Savings Plan will help me to stay
secure when a regular source of income is not available after retirement.”
All Bank Muscat products and services
have evolved over the years in tandem with specific customer requirements. A
keen perception of customer requirements has enabled the bank to develop
innovative products and services in line with the current and emerging