MUSCAT: Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, conducted the second quarterly draw of its 2021 Hibati savings scheme at a special event that was broadcasted on the social media accounts of the bank. Ten high-value cash prizes of OMR 10,000 each and OMR 5,000 each will be given away to 20 winners during the quarterly draw. This month, 30 cash prizes of OMR 1,000 are also being given away to women customers for the Omani Women’s Day draw. Meethaq’s 2021 Hibati savings scheme offers one of the largest number of prizes within Oman’s Islamic banking industry.

On the occasion, Amor Said Al Amri, Senior Regional Manager, Meethaq Branches, said: “We would like to congratulate all the lucky winners in the quarterly draw. 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. We thank all our valued customers for choosing Meethaq Islamic Banking as their preferred banking choice.”

The Hibati Savings account is 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 the Mudarib’s /shareholders’ own sources. The cash prizes are over and above the profit share of Investment Account Holders (IAHs) in the General Mudarabah Pool as per the declared profit sharing weightages.

Meethaq’s Hibati savings scheme rewards customers with attractive weekly, quarterly, half yearly and annual prizes. The 2021 Hibati Savings scheme also has two Grand draws including the upcoming End-of-Year draw. Four grand prizes of OMR 50,000 each and one grand prize of OMR 100,000 will be given away during the End-of-Year draw. 

Prizes totaling over OMR 1.5 million will be given away to a record number of 5,331 winners in 2021. The Hibati scheme, which was launched in 2018, has been instrumental in improving awareness for Islamic Banking in Oman and has seen excellent response from customers. It must be noted that 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.