MUSCAT, 16 October 2012 – bank muscat, the flagship financial services provider in the Sultanate, on Tuesday (16 October 2012) launched an exclusive product package for youth aimed at supporting their lifestyle and encouraging the savings habit. The new package - Shababi (Youth) - is targeted at the country’s youth in the age group of 18 to 25 years who are pursuing higher education in university / colleges.
Said Al Badai, DGM – Branches, said: “In line with the directive of His Majesty Sultan Qaboos to support the country’s youth, bank muscat is proud to introduce the first youth banking package in Oman. bank muscat has been at the forefront in introducing a variety of products for the ever-changing requirements of customers. After having successfully launched products for children and women, Shababi now offers the youth a distinct identity for their banking and financial needs. Over 23 per cent of the Omani population comprises youth in the age group of 18 to 25 and Shababi fulfills the long-felt need of specialised banking services for this segment.”
Amjad Hassan Al Lawati, Head – Products and Services, said: “bank muscat Shababi represents the country’s youth who are the future of Oman. The Shababi package is aimed at encouraging the youth from an early age by supporting their lifestyle and developing a savings habit. A strong savings culture inculcated among the youth would have a positive social and economic impact.”
The customised Shababi package for youth includes special savings account with a lower minimum balance requirement of RO 10. Shababi customers will be charged only 250 baisa for lower minimum balance. The package also includes free internet banking, free mobile banking and a colourful and youthful free branded debit card valid for 5 years.
A dedicated web portal (www.bankmuscat.com/shababi) is available for Shababi customers to keep themselves updated on events, activities and promotions available with partner establishments, including sports shops, restaurants and entertainment.
Exclusive prize draws will be held for Shababi customers. Ten winners will receive RO 300 each in the monthly Shababi draws. Special competitions and activities will also be organized for youth.
Amjad Hassan Al Lawati added: “Shababi aims to engage the youth beyond banking, offering varied opportunities like sports, games, arts and entertainment. In tie-ups with leading establishments, the youth can also benefit from special offers, promotions and discounts. Shababi package is available for both Omani and expatriate youth studying in local or international colleges in Oman.”
Howaa Said Al Harthy, student of Al Zahra College, said Shababi was a pioneering initiative by bank muscat in identifying the banking requirements of youth. “The new banking package will have a significant impact in promoting the savings habit among young people.” Omar bin Abdulaziz Al Hinai from Mazoon College appreciated bank muscat for promoting the savings habit among youth. He urged the youth to take advantage of the new package.