MUSCAT, 28 August 2019
Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision ‘To serve you better, everyday’ and commitment to banking service excellence, hosted a special media visit on Wednesday, 28 August 2019, to showcase the exceptional products and offerings available for its high net-worth Premier Banking customers.
Abdulnasir Al Raisi, DGM - Premier Banking, Bank Muscat, and other senior bank officials welcomed the media fraternity and explained to them the different Premier Banking products and services which are available for the Bank’s customers.
Abdulnasir Al Raisi, DGM – Premier Banking, said: “Having been in the service of Oman and its people for over 37 years, Bank Muscat has a profound understanding of clients’ preferences. Leveraging its unmatched nation-wide presence, Bank Muscat offers Premier Banking services across all regions. The three divisions of Premier Banking meet the requirements of rapidly growing customer segments with focus on Recognition, Rewards and Solutions, in the process setting benchmarks for personal and relationship-based banking in Oman.”
The vibrant Premier Banking experience offered by Bank Muscat encompasses the exclusive Private Banking service, Asalah Priority Banking for high net worth customers and al jawhar Privilege Banking for the salaried segment. Personalised service catering to multiple financial and wealth-management needs of clients differentiate the Premier banking proposition.
Bank Muscat Private Banking
An exclusive Private Banking branch at the Bank Muscat Head Office, dedicated experienced relationship managers, personalised wealth management solutions, tailored credit solutions and financing, participation in all the draws of the RO 10 million Al Mazyona 2019 scheme are all part of the personalised and gratifying banking experience for Ultra High Net worth Individuals (UHNIs).
Private Banking customers enjoy a bevy of privileges that are unrivalled. With access to over 1,000 premium airport lounges worldwide for the cardholder as well as a guest, the Private Banking VISA Infinite credit card is a testimony to the benefits of Private Banking. The card offers access to a collection of over 900 luxury hotels with value added benefits, airport dining offer at more than 200 restaurants globally, meet and greet service with 30% discounts at over 450 destinations, a global concierge service, complimentary chauffeur service to Muscat international airport 6 times a year, free multi-trip travel insurance for the cardholder and his direct family members and 1% cash back as reward accrued on purchases. These benefits are over and above the usual benefits provided to cardholders
The Private Banking services also include conventional accounts, term deposits, currency exchange, domestic and international transfers, online banking and regular asset monitoring. Exclusive Private banking VISA Platinum debit card, luxury car finance and yacht finance are also available for Private Banking clients along with competitive rates for deposits, loans and foreign exchange.
Through an ideal mix of local and global expertise, Private Banking Relationship Managers can assist with the financial needs and goals of the bank's UHNI customers by providing equity investments across global markets, global ETFs, global mutual funds; global Fixed income invsetments, Private Equity funds, Real Estate Funds and Commodity ETFs. To add a further value proposition, Bank Muscat Private Banking in partnership with reputed global counterparties offers the offshore banking and portfolio management services
The Bank’s focus on customers and on exceeding their expectations in an ever-changing world is a crucial goal of the Private Banking team. It must be noted that Private Banking is a multi-generational business where wealth is passed on across generations and Bank Muscat takes pride in having fostered strong decades long relationships with its customers.
Asalah Priority Banking
The Asalah experience is delivered through a host of banking benefits, lifestyle benefits and wealth management solutions and targets customers with at least RO 30,000 quarterly average balance in their savings account. Dedicated Relationship Managers are assigned to handle the banking and investment requirements of each Asalah Priority Banking customer. The Priority Banking experience is available through 32 Asalah centres at select branches across the Sultanate, a dedicated 24x7 Call Center (24779999) and tablet banking that allows the Relationship Manager to serve most customer requests at their doorstep.
The exclusive Asalah Platinum Debit Card forms the basis of all Asalah services and benefits. Some of key benefits include a higher withdrawal limit of RO 1,000 per day, complimentary access to more than 70 airport lounges worldwide including Primeclass lounge at Muscat Airport and Plaza Premium lounge at Salalah Airport. Asalah customer also get exclusive discount offers at various merchants across the sultanate and they have an exclusive app “ BMoffers” to explore and benefit from such offers in various categories including retail, dining, entertainment, beauty and fitness etc. To add further excitement, the exclusive Asalah entertainer app provides over 2,300 'buy 1 get 1 free' offers globally to Priority Banking customers.
The Asalah Signature Credit Card offers 1% cashback on all local and international transactions, 12 complimentary visits to more than 1,000 airport lounges worldwide, complimentary chauffeur service (in Muscat region) three times a year, multi-trip international travel insurance as well as the Visa Concierge Service 24x7 (Toll Free: 80074191) for hotel bookings, dining reservations, medical appointments and holiday packages.
Banking benefits include free monthly banking transactions of 2 foreign remittances, 1 Speed Transfer to India, 1 Pay Order and 1 Free Standing Order execution per month. Asalah Priority Banking also offers customised and multiple investment options to customers including Bank Muscat Funds (Money Market Fund, Oryx Fund etc.) as well as Mutual Funds from top global asset managers like Goldman Sachs, BlackRock, Franklin Templeton, Schroders and Fidelity.
Asalah customers also have a number of al Mazyona prizes exclusively reserved for them including 10 monthly prizes of RO 20,000 each, 10 mid-year prizes of RO 30,000 each, 2 special mid-year prizes of RO 100,000 each, 10 year end prizes of RO 30,000 each and 2 special year end prizes of RO100,000 each.
It is also noteworthy that we offer doorstep banking to our Asalah Priority Banking customers through Tablet banking facility provided by their Relationship Managers. The facility allows opening of accounts for new and existing customers, issuance of cards as well as processing of consumer and auto finance, credit cards and Bancassurance products. Tablet banking is able to capture ID details, update KYC data and generate other documents electronically in order to facilitate banking convenience.
Al Jawhar Privilege Banking
The Al Jawhar Privilege banking proposition was launched with the objective of creating a distinct experience for customers who have a savings account balance of RO 10,000 to RO29,999 or a minimum monthly salary of RO 1,000. Al Jawhar reflects the three pillars of Bank Muscat’s commitment to customers - Recognition, Convenience and Experience. The value proposition of recognition places Al Jawhar customers in a league of their own with preferential treatment and fast track service in over 90 branches making the banking experience easy and convenient.
Al jawhar Platinum Debit card is a contactless card which has a higher ATM daily withdrawal limit 800 OMR and opens a world of exclusive discounts at selected merchant outlets. The al jawhar Platinum Credit Card offers a minimum credit limit of RO 1,000 and a maximum RO 50,000, offers exclusive discounts at participating merchants, access to more than 25 airport lounges worldwide including Muscat and Salalah airports, 1% cashback on all local and international purchases. Cardholders are also eligible for free travel insurance and a subscription to the entertainer app for one year with ‘Buy 1, Get 1 Free’ offers in Oman and the UAE.
Al jawhar customers maintaining a minimum balance of RO 10,000 are also eligible for a number of al Mazyona prizes that are exclusively reserved for them including 10 monthly prizes of RO10,000 each, 10 mid-year prizes of RO 20,000 each, 2 special mid-year prizes of RO 50,000, 10 year end prizes of RO 20,000 each and two special year-end prizes of RO 50,000 each.
Renowned for top-notch customer service, Bank Muscat accords top priority to building strong relationships with customers. With the widest reach and the largest banking network of over 160 branches spread across the Sultanate, Bank Muscat meets the expectations of customers at all levels. The expanding branch network and alternative digital channels reflect the commitment to offer banking convenience at the doorstep of customers. The expanding branch network highlights Bank Muscat’s commitment to the country’s future development, while also ensuring that the Bank’s Premier Banking offers a far superior experience to any other similar service in the market.