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​Bank Muscat launches Woqar Banking Package for pensioners

Muscat, 23 July 2020
In line with its commitment to financial inclusion and provision of banking facilities to all segments of society, Bank Muscat the leading financial services provider in the Sultanate has announced the launch of Woqar Banking Package for pensioners. The package provides a range of banking facilities and services which can be used to meet their needs during retirement. It will allow them to live life with dignity on their own terms, allowing retirees to enjoy a financially secure life. 

The products launched under Woqar Package include flexible-term soft loans for a period ranging from one to 10 years and credit cards based on the value of the pension. Woqar products are available to those under the age of 65 years and have been launched as part of the bank’s vision, ‘To serve you better, everyday’ and to provide banking and financial products and services to different segments of customers in line with the bank’s values of leadership, partnership and innovation.

Abdullah Tamman Al Mashani, Deputy General Manager – Institutional Sales & Products Development, said: “Bank Muscat is delighted to extend financing to pensioners and meet their financial requirements and needs. As the nation’s leading financial services provider, Bank Muscat attaches great importance to social responsibility initiatives aimed at sustaining the country’s progress and development and greatly improve financial inclusion. Bank Muscat is focused on continuous endeavours to further strengthen relations with our valued customers and the extension of Woqar reiterates the bank’s commitment to provide innovative banking services to all members of society.”  

Abdullah Al Mashani said that the launch of Woqar Banking Package was made after studying in detail and understanding the needs of retirees who were working in government and private institutions. He added that the bank aims to provide a number of facilities including flexible-term loans and credit cards for those wishing to benefit from the excellent banking experience provided by the bank. Customers can get more information and details on Woqar products by visiting any of the bank’s branches across the Sultanate or by contacting the call center on 24795555 or visiting the Bank Muscat website.

Bank Muscat is the first bank to extend a financing solution for pensioners in Oman. Presently, the pensioner segment is not served by any bank for flexible-term finance or credit cards based on their pension. True to its name, Woqar Banking package will enable pensioners live a dignified life on their own terms and allow them to enjoy a financially secure life even after retirement. Bank Muscat provides many financial products and services that target all members of society including children, youth, salaried employees, entrepreneurs and pensioners as well as businesses and institutions of all sizes.