The draw was held beneath the patronage of Dr Abdullah bin Ali al Amri, member, Majlis A’Shura, representative of wilayat of Sadah. Members of the bank’s senior management and a number of consumers had been also present.
Cash prizes of RO140,000 had been distributed amongst Bushra Prize Savings account holders from branches positioned across numerous states and governorates of the sultanate. As element of the half yearly draw, with a single fortunate consumer winning a money prize of RO75,000.
In addition to the half yearly draw there was the weekly draw which has the total worth of RO5,000, with ten winners getting RO500 every.
The month-to-month draw which is worth RO25,000 offered to a single winner in addition to the particular month-to-month draw for females with ten female winners of RO500 every and the particular month-to-month branches draw with a single winner from every branch winning RO1,000 every.
Alongside the quarterly draw which has a total worth of RO25,000 with 5 winners getting RO5,000 every.
Cash prizes supplied beneath the scheme are gifted from shareholders’ funds.
The minimum quantity necessary to be eligible for the draws is only RO100, and consumers also obtain month-to-month generated profit on their deposited amounts.
Alizz Islamic Bank launched the Bushra Prize Savings Account as Oman’s very first completely Shari’a-compliant prize savings account and provides every day, weekly, month-to-month, quarterly, half-yearly and annual money prizes.
In line with the belief in the significance of organising activities in the distinct governorates of the sultanate, Alizz Islamic Bank conducts its draws primarily based across Oman to keep close to consumers as effectively as introduce the solutions and items supplied by the bank to consumers in numerous regions.
Commenting on the draw held, Moosa al Jadidi, chief operating officer of Alizz Islamic Bank mentioned, “Bushra Prize Savings account encourages consumers to save and provides them the capability to develop their savings with month-to-month anticipated profit earned all although getting possibilities to enter the numerous draw.
“The account is based on the Sharia’a principle of ‘Mudaraba’ under which the bank invests customer savings in Sharia’a-compliant financing to generate the best possible returns and profits. The customer acts as the capital provider while the bank takes up the role of ‘Mudarib’ or entrepreneur. Dividends are then distributed between the parties according to the agreed terms.”
Jadidi added, “Alizz Islamic Bank continues to deliver exceptional customer experience through continuous enhancement of the bank’s services with modern digital technology alongside simple, efficient and attractive business processes. We are confident that this approach will provide us with a competitive advantage for our long-term growth and success. “Such initiatives come in line with the bank’s mission to achieve sustainable results for its shareholders and customers,”
Information Source: Muscat Daily