MUSCAT, 09 September 2019
Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, has announced the countdown to the mega end of year draw for its Hibati customers. The Shari’a compliant 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 exciting annual prizes range from RO 5,000 each for 10 winners who will be drawn from among customers having a minimum average balance of RO 500 and RO 10,000 each for four winners for customers having a minimum average balance of RO 1,000. Higher prizes of RO 25,000 each are available for three winners, RO 50,000 each for two winners and a mega-prize of RO 100,000 for one winner who will be drawn from customers having minimum average balances of RO 5,000, RO10,000 and RO 30,000 respectively. Keeping in mind feedback from customers, a mega total of RO365,000 has thus been reserved for the year-end prizes.
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. The Shari’a 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.
The Meethaq Hibati savings scheme is aimed at instilling the discipline of savings among people. Helping customers to remain true to their religious beliefs, Hibati ensures the prize scheme conforms to Shari’a tenets. The cash prizes are gifts from Meethaq to customers who will receive Mudarabah profit plus chances to enter the prize draws based on average balance maintained in their Hibati account, in line with their religious beliefs.
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. Customers who maintain a minimum average balance of RO 100 are eligible to participate in the draws for 100 weekly prizes of RO 100 each and 10 monthly prizes of RO 1,000 each.
The Hibati account benefits include Mudarabah profit rates, cash prizes through draws, Visa debit card, no minimum balance charges and eBanking facilities.
Meethaq has adopted the best practices in Islamic banking and finance worldwide to combine a robust model which protects customers and complements the Islamic banking industry. Every Meethaq product goes through the process of Shari’a compliance certification by the Shari’a Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.