MUSCAT: Meethaq Islamic Banking from Bank Muscat, invites all its Hibati savings account customers to increase their savings to get more chances to win cash prize in its upcoming Mid-Year draw, which will be held in July 2021. In line with its vision ‘To serve you better, everyday’ and with its commitment to promote a healthy savings culture in Oman, Meethaq is offering a total cash prize money of OMR 300,000 for the Hibati Mid-Year draw to be won by Hibati savings account customers. The draw will be broadcast live on social media channels of the bank to further increase the excitement and engagement of the bank’s customers.
The Hibati Mid-Year draw is one of the two Grand draws in the Hibati scheme in addition to the End-of-Year draw. By simply maintaining a quarterly average balance of OMR 30,000, Hibati account holders shall be entitled to one entry to the Mid-Year draw and for every incremental OMR 30,000 average balance, customers would be getting an additional entry to the draw, thus increasing the chances of winning. Four grand prizes of OMR 50,000 each and one attractive grand prize of OMR 100,000 will be given away during the Hibati Mid-Year draw, which will see a total of OMR 300,000 being given away to 5 winners.
Speaking on the occasion, Amor Said Al Amri, Meethaq Head of Retail Branches said: “We are delighted to announce the Hibati Mid-Year draw for 2021 and we invite all our valued customers to increase their savings to get more chances to win. The Hibati prize scheme has been constantly updated taking into account customer feedback from across the Sultanate over the last few years. It must be noted that the scheme now provides more chances to win valuable prizes compared to previous years.” He thanked customers for their strong confidence in the Hibati scheme and the various products and services offered by the bank.
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Since its launch in 2018, the Hibati Savings Scheme has grown rapidly to become one of the biggest cash prize scheme in Oman offering special quarterly, National Day and Omani Women’s Day cash prizes. The Hibati scheme also features weekly draws which rewards 100 winners every week. In total, cash prizes worth more than OMR 1.5 million are being given away to a record number of 5,331 winners in 2021.
Based on the Sharia concept of unrestricted Mudarabah, 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 rates.
Customers with Hibati Savings Accounts enjoy the largest number of benefits in Oman which include competitive Mudarabah indicative profit rates, attractive cash prizes through draws, Visa Debit Card, no minimum balance charges and digital banking facilities. Meethaq ensures that each and every Meethaq product goes through the process of Shari’a compliance certification by the Shari’a Supervisory Board and is created in line with the guidelines of the Central Bank of Oman.