Central to its effort to lead the Islamic financial market in the Sultanate, Maisarah Islamic Banking Services has announced the launch of its flagship Maisarah Prize Account.
“The new Maisarah Prize Account is a personal savings account that is based on the Islamic Mudaraba principle, wherein customers share attractive expected profit. Along with the profit paid on monthly basis, the account allows customers to get cash prizes every week and every two months. The prizes will be distributed from the shareholders’ funds,” elaborated Jamsheed Hamza, Executive Manager and Head of Retail at Maisarah Islamic Banking Services.
With the new Maisarah Prize Account each OMR 100 gives customers the chance to win a cash prize, with a total value of over OMR 200,000 cash prizes and a total number of 374 winners. One customer from each of the 10 Maisarah branches will win OMR 500 every week and one customer pan Oman will win OMR 5,000 every two months.
“We introduced this product to fulfil the needs and requirements of the market for Shariah-compliant solutions. The new account is available for individual customers, including adults and minors. Additionally, Maisarah customers can use other banking services and alternate channel services provided by the Islamic window. All account holders who maintain a minimum balance of OMR 100 for 60 days are eligible to enter the the bi-monthly draws. Winners will be randomly selected by an automated system in line with the approved procedures for the prize draw,” noted Jamsheed Hamza.
The Islamic services provider said a comprehensive campaign was taking place to spread awareness about the new scheme and to promote the culture of saving among customers nationwide. “The unique feature of Maisarah Prize Account is that customers are eligible for the profit due on the account and in addition bank is giving away this prize from its own sources. Hence, it is not only encouraging customers to save but also rewarding them.”
Maisarah has shown an impressive growth since the launch of its services in 2013. The Islamic banking services provider has demonstrated a high degree of product innovation offering best financial solutions. It has been recognised for its commitment to lead the Islamic finance market in Oman, earning prestigious awards and titles from leading local and international organisations. Maisarah offers a wide range of Shariah-compliant products and services that cater to the needs of its retail and corporate customers in different parts of the Sultanate through its expanding network of branches, ATM and CDM facilities. In addition to its dedicated branches in Azaibah, Al Hail, Salalah, Sohar and Birkat Al Mouz, Maisarah has recently opened five new branches in Greater Muttrah, Al Khuwair, Sur, New Salalah and Araqi. The Islamic window plans to expand its presence across the Sultanate through the addition of more branches. As part of its future growth plan, Maisarah will continue to distinguish itself by focusing on outstanding customer service, developing and launching new innovative products, and investing in technology to provide the best customer experience in timely and convenient manner.