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OMR 100,000 for 10 Winners in Maisarah's Anniversary Draw

Muscat| 21 May 2019: Maisarah Islamic Banking Services recently conducted its Anniversary Draw for the 2019 Prize Account Scheme in which 10 customers had the chance to win OMR 10,000 each (one customer from each branch).

The event which saw large turnout was organized under the patronage of Honred Sheikh Hamad Mohammed Al Mukhaini, Member of State Council.

Congratulating the winner, Muhammad Al Mashani, Executive Manger Retail Business and Channels said, “In this year's Prize Draw our customers have the chance to win valuable cash prizes for several occasions. Through our Prize Account Scheme 2019 we aim to inspire our customers to save more and reward them for that. I would like to congratulate the winners of Maisarah's Anniversary Draw and I encourage our customers to continue saving as they might be the lucky winners in the coming draws".

Prize account is based on the Islamic profit sharing concept of Mudarabah. To follow their dreams, customers need to maintain an average balance of OMR 100 in their account for a week for weekly prizes and a month for all other attractive prizes. For every OMR 100 balance, standard customers get 1 chance, affluent customers get 2 chances, and priority customers get 3 chances to win. The more the customers’ save, the greater their chances of winning.

The exclusive feature of Maisarah Prize Account is that customers are eligible for the expected profit of up to 3% on their deposits maintained in the account, and bank is giving away this prize from its shareholders funds. Hence, it is not only encouraging customers to save but also rewarding them.

This year, customers will have a chance to win OMR 100 in the weekly draws to be held throughout the year (3 customers from each branch). Under the monthly draw, more than 120 customers will have the chance to win OMR 1,000 (1 customer from each branch). Under the Maisarah Anniversary draw 10 customers will have a chance to win OMR 10,000 (1 customer from each branch). Maisarah will also conduct two special draws, during which winners can take home OMR 10,000 (for 3 winners). Maisarah this year introduced Renaissance Day where winners will get the chance to win OMR 10,000 (for 3 winners). Additionally, Back to School, Omani Women Day, and National Day draws are introduced. For each draw lucky customers (minors for Back to School and ladies for Omani Women Day) will get the chance to win OMR 1,000 (for 1 winner in each draw). The total amount of the Mega Prize is OMR 100,000 for one winner. OMR 40,000 prize amount and 167 prizes have been allocated for special draws on special events or for new branches to be announced during the year

Maisarah is a full-service provider of a broad range of Sharia-compliant financial products and solutions. Maisarah maintains a complete segregation of business activities in order to provide Sharia compliant financial services to its valued customers. As a part of its strategy, the Islamic banking window has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

Maisarah is committed to leading the Islamic banking sector by building up resources, sharing expertise and following best international practices in the market. With an aim to serve customers across Oman, Maisarah has 10 branches across the country including in Azaiba, Al Hail, Salalah, Sohar, Birkat Al Mouz, Greater Muttrah, Al Khuwair, Sur, New Salalah and Araqi. It offers a comprehensive range of Shariah-compliant products and services that cater to the needs of its retail and corporate customers network of branches, ATM and CDM facilities.

Tue, 21 May 2019

BankDhofar & GBSA hold Debit Capital Market Conference

MUSCAT| 20 May 2019 – BankDhofar and Maisarah Islamic Banking organised the third Debt Capital Markets Conference, in partnership with The Gulf Bond and Sukuk Association (GBSA). The conference was part of GBSA’s ongoing efforts to promote and enhance the Gulf region’s capital markets. The invitation-only conference was attended by industry leaders, senior government officials, experts from Oman, GCC and international regions.

The conference highlighted new opportunities and challenges in the debt capital market and was set against a backdrop of strong bond and sukuk activity from the region along with an uncertain global interest rate environment and regional geo-political challenges.

Sohail Niazi – Chief Executive at Maisarah Islamic Banking, said: "We are glad to take part in this important conference which is a good platform to share insights on capital markets, growth prospective and future economic outlook. At Maisarah, we are always keen to be part of initiatives that play a role in driving the growth of the national economy. As we know activity in the GCC’s debt market, particularly in the issuance of sovereign bonds, has significantly increased over the last two years despite a decline in oil prices."

The event also featured a senior panel of industry experts, moderated by Mr. Mohsin Shaik, Senior Executive Manager at at Maisarah Islamic Banking Services, who explored the investment environment and the various financing options available to Oman and GCC companies given the changing landscape.

The conference was part of GBSA’s ongoing efforts to promote and enhance the local debt capital markets in the Gulf region through awareness initiatives, advocacy and promotion of best practices.

Maisarah is one of the fastest growing Islamic banking windows in the Sultanate with range of financial products and services. As a part of its strategy it operates as independent Islamic banking window and has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

As part of its future growth plan, Maisarah plans to distinguish itself by focusing on providing outstanding customer service, developing and launching new products, investing in technology to provide the best customer experience in timely and convenient manner.

Maisarah is committed to leading the Islamic banking sector by investing in resources, sharing expertise and following best international practices in the market. Its products and services set the standard for best Islamic financial solutions and it is committed to lead with creativity and innovation to provide the best customer experience.

Mon, 20 May 2019

BankDhofar Topped with ‘Best Digital Transformation in Banking’ Award

Muscat| 16 April 2019: In further recognition of its success as one of the leading Banks in Oman, BankDhofar, the most innovative financial institution in the region, won ‘Best Digital Transformation in Banking’ Award as part of Smart SMB Summit & Awards. The award was received by Mr. Abu Baker Karim Al Balushi, Head of Information Technology at BankDhofar.

Commenting on the achievement, Ahmed Said Al Ibrahim, General Manager and Chief Corporate Services Officer at BankDhofar said: "At BankDhofar putting digital technology and innovation at the core of its strategy to improve the experience of its customers. We have implemented a number of initiatives utilizing technology to provide utmost convenience to our customers by enabling them to conduct their banking transactions with ease through. We are proud to be recognized with this prestigious award which adds to our achievements in digital transformation."

Smart SMB Summit & Awards is a platform that brings together the largest number of ‘C’ level executives from the mid-market segment under one roof. The event included the Summit & Awards. Under the theme of ‘Redefining Digital and Business Transformation’, the summit included keynotes presented by eminent leaders of their respective domains and panel discussions with the participation of industry experts. The Awards ceremony recognized the outstanding work being done by companies and individuals in deploying digital transformation strategies across verticals based on their nomination entries.

“We are proud to receive this prestigious award which recognizes our efforts in digital transformation. BankDhofar is one of pioneers in the adoption of digital transformation in the region and significantly leveraged technology for growth and transformation over the past few years. We have a clearly defined technology strategy that is well aligned to our transformation goals and digital strategy.” Abu Baker Karim Al Balushi, Head of Information Technology at BankDhofar added.

As part of its “Together 2020” journey which aims at reaffirming its position as a leading bank in the Sultanate and the best in the Gulf, BankDhofar continues to provide the best customer experience, innovative products and creative services that are custom-made to meet the needs and requirements of our customers. The combination of the thorough vision of the bank’s executive management, the comprehensive operational strategy that revolves around following best international banking practices and providing best customer experience, as well as commitment to community development and contribution to the growth of the national economy, placed BankDhofar on top of the list of best banks in the region.

Tue, 16 Apr 2019

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