MUSCAT:  Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, celebrated the first quarterly draw of its 2021 Hibati savings scheme at a special event that was broadcast live on Shabiba FM and also on the social media accounts of the radio station and the bank. Meethaq’s 2021 Hibati savings scheme offers one of the largest number of prizes in Oman’s Islamic banking industry. Ten high-value prizes of OMR 10,000 each and OMR 5,000 each were given away to 20 lucky winners during the first quarter draw. Based on the unrestricted Mudarabah contract, the cash prizes offered under Hibati’s 2021 prize draw scheme are ‘Hiba’ (gift) from Meethaq to its customers and are paid out of Mudarib’s (shareholders’) own sources. The cash prizes are in addition to the profit share of Investment Account Holders (IAHs) in the General Mudarabah Pool as per the declared profit sharing weightages.

Speaking on the occasion, Mohammed Ahmed Al Kharusi, Head of Hafawa Priority Banking, said: “We are delighted to organize the first quarterly draw of the Hibati Savings program for 2021 and thank all our valued customers for their strong confidence in the bank. The Hibati prize scheme has been constantly updated taking into account customer feedback from across the Sultanate over the last few years. Meethaq has substantially increased the prize money this year and the scheme now also provides more chances to win valuable prizes.” 

Meethaq’s Hibati savings scheme rewards customers with attractive weekly, quarterly, half yearly and annual prizes. This year’s scheme features 2 quarterly draws with each draw having two sub draws offering 10 prizes of OMR 5,000 and OMR 10,000 each. The draw for the first quarter was held recently while the third quarter draw will be held in October. Customers maintaining a quarterly minimum average balance of OMR 1,000 are entered into the quarterly draws for 10 prizes of OMR 5,000 each, while customers maintaining a minimum quarterly average balance of OMR 5,000 are automatically entered into the draw for 10 prizes of OMR 10,000 each. 

The 2021 Hibati scheme will also have two Grand draws – a Mid-Year and an End of Year draw. For every OMR 30,000 in quarterly average balance maintained in the preceding quarter, the customer shall be entitled to one entry to the Grand draw. Four grand prizes of OMR 50,000 each and one grand prize of OMR 100,000 will be given away during the Mid-Year draw as well as the End of Year draw. Other special prizes to be given away during the year include 51 National Day prizes of OMR 1,000 each and 30 Omani Women’s Day prizes of OMR 1,000 each. Also all customers maintaining a minimum balance of OMR 100 will be entered into the draw to select 100 winners of OMR 100 every week. Prizes totaling over OMR 1.5 million will be given away to a record number of 5,331 winners in 2021.