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Meethaq holds special Hibati draw to celebrate Omani Women’s Day

Muscat, 22 October 2020
On the occasion of the Omani Women’s Day and in line with its commitment to celebrating special events of national importance, Meethaq Islamic banking from Bank Muscat, conducted a special Hibati cash prize draw recently. Meethaq honoured the achievements of Omani women by conducting the special draw which was livestreamed for the first time on the bank’s official social media accounts on Twitter and Instagram. They were conducted in the presence of Fahad Al Gharibi, Head of National Sales, Meethaq and Ibtisam Al Yahyai, Branch Manager – 18th November Street, Meethaq. Ten lucky winners walked away with prizes of RO 1,000 each, with a total of RO 10,000 being given away on the occasion.

During the event, the presenter introduced the Hibati savings account from Meethaq and the prizes it offers to customers, in addition to explaining the eligibility for participating in the prize draw. He also shared details about the occasions on which the special prize draws are held. During the broadcast, an overview of the "Hibati" draws was also provided and attendees discussed the importance of such programmes in promoting the concept of saving in the Sultanate and encouraging individuals to adopt best practices in spending. They also discussed the crucial role of women in society and the importance of enabling greater contributions by them to all sectors of the economy. The participants also highlighted Meethaq Islamic Banking’s commitment to promoting a healthy savings habit in Oman and how it has been growing from strength to strength by helping customers realise their aspirations.

Hibati Savings account is based on the unrestricted Mudarabah contract. The cash prizes offered under Hibati’s 2020 prize draw scheme are  ‘Hiba’ (gift) from Meethaq to its customers and are paid out of Mudarib’s (shareholders’) own sources. The cash prizes are in addition to the profit share of Investment Account Holders (IAHs) in the General Mudarabah Pool as per the declared profit-sharing weightages.  With prizes including 100 weekly prizes of RO 100 each and 10 monthly prizes of RO 1,000 each, Meethaq’s Hibati offers one of the biggest Shari’a-compliant cash prize schemes in Oman. A massive total of over RO 1 million will be given away to 5,424 winners in 2020. Special prizes to be given away during 2020 include 10 prizes of RO 1,000 each for the Omani Women’s Day. Mega prizes to the Hafawa segment are also given away quarterly. These include 6 prizes of RO 5,000 each given away to customers and 5 prizes of RO 10,000 each for customers every quarter. An interesting highlight of the Hibati scheme is that customers are also eligible for monthly Mudarabah Profit as per the declared profit-sharing weightage.

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 boost the savings culture in Oman. The Hibati account benefits include attractive Mudarabah profit rates, cash prizes through draws, Visa debit card, no minimum balance charges and eBanking facilities. Launched in 2018, Hibati has been instrumental in improving awareness for Islamic Banking in Oman and has seen excellent response from customers. 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.

Meethaq Islamic Banking has been recognized as The Best Islamic Bank in Oman for the year 2019 by Islamic Finance News. For more details about Meethaq Hibati Savings Accounts, please visit https://www.meethaq.om/en/depositproducts/Pages/details.aspx#saving or call on 24656666.