MUSCAT – Bank Muscat conducted a special Al Mazyona Mid-year draw and gave away over RO 1.5 million in high value prizes to be given away to 92 lucky winners.
The lucky winners included two customers from the Al Mudhaibi and Madinat A’Sultan Qaboos branches who won a total of RO 500,000 in the 2 top prizes. The draws under the Al Mazyona scheme, which is Oman’s biggest prize draw scheme, was livestreamed across the bank’s social media channels on Instagram, Twitter and YouTube keeping in mind the keen interest of the bank’s customers and the general public. The Mid-year draw rewarded Asalah and Al Jawhar customers as well as those from all the governorates of the Sultanate and was held in the presence of Abdulnasir Al Raisi, Deputy General Manager – Premier Banking, Bank Muscat and Dr Fatma Al Hajri, Behavioral Economics Expert.
Two lucky winners won RO 250,000 each in the special mega prizes, which were given away during the prize draw. All customers maintaining a minimum balance of RO 30,000 in their Al Mazyona accounts were automatically entered into the draws to select the two top winners in the Mid-year draws.
Similarly, high savings Asalah Priority Banking customers maintaining a minimum balance of RO 30,000 were entered into the draws for 10 Mid-year prizes of RO 50,000 each for a total of RO 500,000 in prizes for Asalah customers. In the Al Jawhar Privilege Banking segment, 10 lucky customers won prizes of RO 20,000 each adding to a total of RO 200,000. All Al Jawhar customers maintaining a minimum balance of RO 10,000 were automatically entered into the draws for these high value prizes. Also, 70 winners were chosen from amongst customers across all governorates in the Sultanate having a minimum balance of RO 1,000, with each winner getting RO 5,000 in the prize draw for a total of RO 350,000 in prizes.
Speaking on the occasion, Abdullah Tamman Al Mashani, Deputy General Manager – Institutional Sales and Product Development, Bank Muscat said: “We are delighted with the excellent response and feedback from our customers and congratulate all the winners for their wonderful savings habit. Since its launch, the Al Mazyona prize draw scheme has been going from strength to strength and the bank will continue to develop this scheme to further promote the concept of savings in the Sultanate.”
On his part, Abdulnasir Al Raisi, Deputy General Manager – Premier Banking, Bank Muscat, spoke about the high value prizes are an extra incentive for Premier Banking customers in successful financial planning and achieving their dreams. He said: “Through continuous innovation and response to customer feedback, the 2021 scheme has further increased the number of prizes available. The bank will continue to meet the aspirations of our customers while also promoting a good savings habit in the country with these special prizes.”
During the event Dr Fatma Al Hajri, Behavioral Economics Expert, explained the importance of savings and financial planning from the perspective of behavioral economics. She said that even if individuals have sufficient information and know the best options for their selves, there can still be many reasons why they are not able to take a decision or stick to their savings plan. It is here that behavioral economics can help people commit to their savings plan and provide clarity on their future. Behavioral economic models can help answer important questions like: “How will my life be like in the future? Can I achieve financial stability and comfort? Will my financial plan help me achieve my desired lifestyle?”
Through optimal financial planning, individuals can better their future prospects. Bank Muscat’s Al Mazyona savings programme is an important tool in one’s personal finance management. This year, Al Mazyona is giving away a record 7,470 prizes compared to 6,677 in 2020, a 12 percent increase in the number of winners, with special prizes reserved for high-saving Asalah and Al Jawhar customers as well as in the regional, women, youth, children and salary-transfer categories. The 2021 scheme features several special draws including the Eid Al Fitr draw, a National Day draw, the Mid-year draw and an End of Year draw apart from the regular monthly draws for different customer segments.