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Bank Muscat reinforces savings habit among children

MUSCAT, 27 September 2014 – Giving a major thrust to inculcating a strong savings culture among children, Bank Muscat, the flagship financial services provider in the Sultanate, introduced Basma and Basim, the new child character mascots representing al Mazyona Children's Savings Account, at an event held at Muscat Grand Mall on 26 and 27 September.

'The Smile with Basma and Basim' event evoked strong response from children and families who were treated to lively entertainment and fun-filled activities spreading the message of prudent savings and spending habits. Dressed in traditional Omani attire, the child characters Basma and Basim struck an instant appeal in reaching out to children who could easily relate with them. The interaction with Basma and Basim helped children to understand the principles of financial management in general and the advantages of the attractive al Mazyona savings product.

al Mazyona Children's Savings Account is aimed at encouraging the savings culture among them and helping parents prepare for the future of children. al Mazyona offers unique privileges and facilities which can be availed by opening children's accounts in Bank Muscat branches.

By maintaining a monthly balance of RO 50, al Mazyona Children's Savings account holders get a chance to win one of 20 prizes of RO 100 each every month. If the child is celebrating his or her birthday during that month, they also stand a chance to win one of 10 additional prizes of RO 100 each. Subject to maintaining the required minimum balance, al Mazyona Children's Savings account holders are also eligible to participate in all al Mazyona prize draws.

Bank Muscat is all set to reward al Mazyona customers with the year-end big prizes totalling over RO 3 million. Momentum has started building up for the grand year-end bonanza of RO 1.9 million, to be preceded by the third quarter prize totaling RO 750,000.

In the run-up to the big prizes, the bank is also offering attractive monthly prizes totaling RO 300,000 each month as well as weekly prizes, reaching out to all individual segments with exclusive prizes earmarked for ladies, youth, children, salary account holders and high savings balance customers in all regions.

The grand year-end prizes totaling a whopping RO 1.9 million are to be shared by 14 winners from the governorates and 1 winner from asalah Priority Banking. Customers maintaining a minimum balance of RO 1000 for the last quarter of the year are eligible for the grand prize draw. In all, 14 winners from the governorates will win RO 100,000 each, besides RO 500,000 by an asalah Priority banking customer. Customers get 10 chances for every RO 1000 balance. The higher the balance, higher the chances to win.

al Mazyona fulfills the desire of children to have their own bank accounts like their parents. While the children grow up, the savings account contributes to a secure future by encouraging them to make savings a regular habit.

Over the years, al Mazyona has succeeded in inculcating a strong savings culture in Oman. The objective of al Mazyona is to create a lifetime change for winners and allow them to invest the prize money in things that will make a lasting difference and the well-being of their families. The flexible scheme makes regular saving easier and is available across the largest network of 138 branches in Oman.