MUSCAT, 20 March 2018
Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, in line with the dynamic vision ‘To serve you better, everyday’ and catering to the unique needs of women, has launched an exclusive savings account. Targeting women who prefer to use special banking services that enhance their privacy and aimed at encouraging a savings culture, the Neswa savings account is tailored for the rising number of employed Omani women as well as household women with personal savings.
The Shari’a compliant Neswa savings account offers special features, discounts and savings platform for women. The exclusive benefits include attractive profit rates on savings, complimentary Takaful cover under Women’s Wellness Programme and special Visa debit card with ATM daily withdrawal limit of RO 800. Neswa customers are also entitled to exclusive discounts at partner outlets, 50% discount on safe deposit locker facility, no minimum balance charges, free electronic banking channels of internet and mobile banking and exclusive ladies events and promotions on invitation basis.
Sulaiman Al Harthy, Deputy Chief Executive Officer – Islamic Banking, said: “In recognition of the important roles played by women in society, Meethaq is proud to present them with the exclusive Neswa savings account. As the pioneer of Islamic banking in Oman, Meethaq is committed to reciprocating the trust and confidence reposed by our customers. We continuously work to provide value added services and benefits to all customers and ensure a premium banking experience.”
The Neswa savings account compliments the many roles women play in their lives and is designed to meet their requirements. With unique features and benefits, Neswa makes life easy and helps women to pursue their goals.
The complimentary Takaful coverage under Women Wellness Program includes life cover up to RO 10,000, wallet/handbag cover up to RO 1,000 and loss of ID cards / keys cover up to RO 100.
In the event of death of the account holder or her spouse due to injury or illness, the Takaful company will provide RO 10,000 to the assigned beneficiary in accordance to the terms and conditions of the policy. In the event of the handbag of the customer getting accidentally lost or stolen anywhere in the world, the Takaful company will provide an amount up to RO 1,000 resulting from the loss reported as a result of misuse of credit cards or debit cards (issued within Oman) in the handbag. However, only losses incurred within 48 hours of the handbag being reported lost or stolen will be covered. In the event of the loss of ID cards and Keys in the handbag at the time of loss, the Takaful company will reimburse the cost involved in getting duplicate keys and replacing the identification cards/papers like driving licence, resident card, Takaful cards etc., subject to a maximum limit of RO 100.
Neswa customers are entitled to attractive profit rates on average monthly balance. Meethaq will invest the cumulated deposit balance from Neswa savings account in its financing and investment products which provide an attractive profit return to customers. The profit will be credited to Neswa savings account on a monthly basis. The Visa debit card with daily ATM withdrawal limit of RO 800 provides Neswa customers access to the largest network of ATMs and CDMs across Oman.
Neswa customers will receive a bouquet of offers and discount from merchants which can be used for exclusive savings on fine dining, travel, leisure, entertainment, beauty, hotels and more throughout the year.
Female Omani citizens or residents aged 18 years and above are eligible to open the Neswa savings account. They are required to maintain a minimum balance of RO 300 or a minimum salary transfer of RO 500 and above to avail the product features. The Neswa account holder must maintain an average balance of RO 1,000 and above to avail the Takaful coverage.