MUSCAT, 20 May 2014 – Bank Muscat, the flagship financial services provider in the Sultanate, as part of its social commitment has extended lead support to the 6th Muscat Wedding Exhibition presently under way at Oman International Exhibition Centre. The bank's participation in the event is highlighted by the first-of-its-kind Zaffaa marriage loan which fulfills a long-felt social need in extending a helping hand to Omani youth requiring financial support to conduct their marriage.
As the nation's leading banking partner, Bank Muscat attaches great importance to social responsibility and initiatives aimed at sustaining the country's progress and development. Targeted at unmarried Omani youth, Zaffaa reiterates Bank Muscat's commitment to the country's future generations. As per the 2010 census figures, around 58 per cent of Omani nationals comprise youth spread across all regions of Oman. Zaffaa caters to this segment as there is a big demand for such a product in Oman.
Omani nationals above 18 years, both men and women, are eligible to apply for Zaffaa. The maximum loan amount is RO 20,000 with 5-year tenure for repayment. For eligibility, the minimum monthly salary requirement is RO 250 for government and quasi government employees and RO 500 for employees of Tier 1, 2 companies.
In order to make wedding a memorable experience for customers, Zaffaa also facilitates value added services wherein customers can avail special offers and discounts from a host of marriage-linked service providers dealing with wedding invitation cards, flowers, jewellery, catering and wedding halls across Oman. Bank Muscat personnel are available at the wedding exhibition stall to provide assistance to those interested in Zaffa marriage loan. The exhibition concludes on Thursday 22 May.