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Bank Muscat to reward al Mazyona customers with RO 3 million year-end bonanza

MUSCAT, 20 September 2014 - Bank Muscat, the flagship financial services provider in the Sultanate, is all set to reward al Mazyona customers with the year-end big prizes totaling over RO 3 million. Momentum has started building up for the grand year-end bonanza of RO 1.9 million, to be preceded by the third quarter prize totaling RO 750,000.

In the run-up to the big prizes in the last quarter, the bank is also offering attractive monthly prizes totaling RO 300,000 each month as well as weekly prizes, reaching out to all individual segments with exclusive prizes earmarked for ladies, youth, children, salary account holders and high savings balance customers in all regions.

The grand year-end prizes totaling a whopping RO 1.9 million are 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.

Customers maintaining a minimum balance of RO 1000 for 3 months are eligible to participate in the prize draw for the quarter ending 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.

Customers maintaining a minimum balance of RO 1000 get a chance to win RO 10,000 every month. 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.

With over RO 8 million prize money in 2014, al Mazyona scheme offering more for everyone to share is the biggest prize money in Oman and the region. The series of big prizes from Bank Muscat is the major attraction of al Mazyona, which offers fair and transparent winning chances for all segments of customers. The bank attaches great importance to inculcating prudent savings and spending habits and has tailored al Mazyona scheme with this objective in mind.

Notably, the enhanced prize money totaling over RO 8 million is 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.

Among the varied prizes, 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 can 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.

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.

al Mazyona 2014 scheme reflects 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. 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.

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.

al Mazyona prize draws are 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.

Over the years, al Mazyona has succeeded in inculcating a strong savings culture in Oman. 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.