islamic finance

Meethaq celebrates first quarterly Hibati draw

April 25, 2021

MUSCAT: Meethaq celebrated the first quarterly draw of its 2021 Hibati savings scheme at a special event that was broadcast live on Shabiba FM and also on the social media accounts of the radio station and the bank.
Meethaq’s 2021 Hibati savings scheme offers one of the largest number of prizes in Oman’s Islamic banking industry. Ten high-value prizes of RO 10,000 each and RO 5,000 each were given away to 20 lucky winners during the first quarter draw.
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 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 sharing weightages.
Speaking on the occasion, Mohammed bin Ahmed al Kharusi, (pictured) Head of Hafawa Priority Banking, said: “We are delighted to organise the first quarterly draw of the Hibati Savings program for 2021 and thank all our valued customers for their strong confidence in the bank.
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.”
Meethaq’s Hibati savings scheme rewards customers with attractive weekly, quarterly, half yearly and annual prizes. This year’s scheme features 2 quarterly draws with each draw having two sub draws offering 10 prizes of RO 5,000 and RO 10,000 each. The draw for the first quarter was held recently while the third quarter draw will be held in October.
Customers maintaining a quarterly minimum average balance of RO 1,000 are entered into the quarterly draws for 10 prizes of RO 5,000 each, while customers maintaining a minimum quarterly average balance of RO 5,000 are automatically entered into the draw for 10 prizes of RO 10,000 each.


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