Insurance is key to fostering economic growth and investment in the Middle East and North Africa region
Though the MENA region has made considerable progress over the last decade, with some of the lowest insurance penetration rates in the world, there is still large growth potential in the insurance sector. However, insurance can help to transform the MENA economies to address many of the economic and social challenges facing the region, including helping nations to diversify and modernize their economies to create sufficient employment opportunities for the young.
• Insurance allows individuals and their families to protect their hard-earned assets, which provides economic stability for all classes of society.
• By providing risk transfer possibilities and facilitating capital formation, insurers also promote economic development.
• Insurance provides essential coverage to businesses that promotes trade and economic activity.
• Furthermore, by insuring trade and foreign direct investments, insurance contributes to sustainable growth across all market sectors.
The new branches offering evening banking service are Ruwi, Al Amerat, Falah Al Qabil, Buraimi, Ibri Jubail, Safalat Ibra, Sur Afiah and Firq. The extended timings and evening banking facility are already available at the branches in Muscat Inter-Continental, Muscat City Centre, Al Khuwair, Seeb, Al Khoud, Barka main, Sohar main and Salalah main.
Said Al Badai, DGM – Braches, said: “As the leading bank in Oman, Bank Muscat is proud to offer extended timings in branches across the Sultanate, facilitating value-added services to the largest banking family. As part of the bank’s ‘We Can Do More’ vision and in view of the growing market demand for longer banking hours, the bank decided to offer the new facility at eight more branches covering all regions of the Sultanate, effective 2 June 2013, for the convenience of customers, businessmen and traders. Aimed at accommodating people’s busy schedules, the extended banking hours at all key locations will benefit customers who face difficulties in visiting the bank in morning hours.”
Called the ‘Educational Village’, this groundbreaking initiative was launched more than three years ago in the coastal village of Yeti. Since its opening, scores of local villagers have enrolled for adult literacy, numeracy and other educational programmes that have been progressively transforming their lives socially and economically.
In commemoration of the completion of this landmark project and its ongoing success, the Directorate General of Education in Muscat Governorate held a ceremony at the Al Bustan Palace – A Ritz Carlton Hotel to recognize the contribution of all the key figures associated with this visionary project, as well as the many private sector organizations that have extended their support to this noble venture. Bank Sohar, a sincere supporter of such causes, shared the limelight with a number of prominent corporate’s which were honored on the occasion. Presiding over the ceremony was H.E Engineer Khalfan Saleh Mohammed Al Naabi - Adviser of the Ministry of the Sports Affairs.
- First monthly draw sees customers win prizes worth over OMR 8,000
Muscat, May 28, 2013: Towards acknowledging their credit card customers, Bank Sohar announced the initial 30 winners from the first monthly draw under their ‘Mystery Sahara’ Credit Card Campaign in an action-packed event at the Bank’s Qurum branch.
Launched recently, the new campaign gives 90 lucky Bank Sohar customers the chance to win high value gifts over the next three months. For every purchase of RO 30 or more using Bank Sohar Credit Cards (Internet, Classic, Gold and Platinum), customers will get a chance to win a ‘Mystery Sahara gift’ in a monthly raffle draw. The bank gave away a total of 30 gifts to the lucky winners as part of the promotion, which included Smart phones, tablets, smart TVs, laptops and smart cameras.
MUSCAT, 28 May 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, in implementation of the recommendations of the Royal symposium on SMEs, has launched a unique mentoring programme for SMEs under the direct supervision of AbdulRazak Ali Issa, Chief Executive. The CE mentoring programme is an initiative developed by the Ministry of Commerce and Industry to impart the required skills and guidance for SMEs drawn from diverse fields.
AbdulRazak Ali Issa will personally play a major role in mentoring six entrepreneurs selected for the programme, including four women and two men engaged in contracting and trading, gift wrapping, beauty parlour and school. Two of the trainees are from the wilayat of Buraimi.
New BlackBerry plans start at just one Omani Rial
Muscat, 28May 2013 –Nawras BlackBerry customers are now able to benefit from plans that include greater dataallowances as well asunlimited BlackBerry Messenger(BBM) and emails, with no increase in price.Oman’s customer friendly communications provider has boosted every BlackBerry plan to give customersmuch more value. The company has also introduced two new options, one of which is a weekly plan with a data allowanceof 120 MB,for just one Omani Rial.
Ewan Stirling, CEO, HSBC Bank Oman, was full of praise and admiration for the loyalty shown by these employees. He said that they had exhibited steadfast commitment and dedication to the bank and wished them continued long service and success.
He added, “In HSBC Bank Oman we are on an incredible journey, focused on our vision to become the leading bank in Oman, leveraging HSBC Group’s global strengths locally to the benefit of our Oman customers and the Oman economy. Coupling this with so many loyal and committed employees will really help accelerate our ability to achieve this vision.”
al Mazyona weekly draw rewarded 30 customers covering all regions, including three Zeinah customers, with RO 1,000 each. Customers get one chance for the weekly draw for every RO 100 balance.
al Mazyona Children’s account holders maintaining a monthly balance of RO 50 won 20 prizes of RO 100 each in the monthly draw. Children celebrating his or her birthday during the month also won 10 additional prizes of RO 100 each.
As on date, al Mazyona 2013 scheme offers the biggest prize money in Oman and the region. Notably, the enhanced prize money is shared by more winners as customers from all governorates are guaranteed to win prizes ranging from RO 1000 a week, RO 50,000 every quarter to RO 100,000 at the end of the year.
Abdullah Al Rahbi, Head – Events & Sponsorship, said: “Bank Muscat is proud to be recognised once again for its commitment to development of sports in Oman. The awards reflect the bank’s commitment to encouraging health, social interaction and integration through the promotion of sports and physical activity, which will contribute to developing Oman as an attractive sporting destination.”
The Green Sports initiative was launched by the bank in 2012 to develop a sporting nation by supporting sports clubs across Oman to green their playing fields. The bank recognises that local clubs wield immense influence on neighbourhood communities, especially youth, hence clubs with modern infrastructure facilities can help raise sporting heroes for the country.
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