The Board of Directors of BankDhofar has conducted its Annual General Meeting AGM on Wednesday 31 March 2021. The meeting, held online through the electronic platform for holding general meetings, was chaired by Eng. Abdul Hafidh Salim Rajab Al Aujaili, Chairman of the Board, and attended by the Board members, Senior Management of the Bank and Shareholders.
The Annual General Meeting (AGM), approved the Report of the Board of Directors of the Bank on the business and financial position of the Bank for the financial year ended 31st December 2020. The meeting approved the cash dividend, which will be distributed to the Shareholders, at the rate of 4 baisas per share (4%). The meeting brought to the attention of Shareholders the transactions in which the Bank entered with related parties during the financial year ended 31st December 2020. The sitting fees being availed by the members of the Board of Directors and members of the Board sub-committees along with the members of the Sharia Supervisory Board for the financial year ended 31st December 2020, were ratified and the sitting fees for the next financial year were specified. The meeting approved the proposed Directors’ remuneration of OMR 300,000 for the financial year ended 31st December 2020. Additionally, the donations paid to support local community services for the financial year ended 31 December 2020 were brought to the attention of the shareholders.
The meeting also approved allocating OMR 120,000 for supporting local community services for the financial year ending 31 December 2020.
The meeting also agreed to appoint the External Auditors and Sharia External Auditors for the financial year 2020 and specified their fees.
- Over 4,900 winners and still counting
Maisarah Islamic Banking Services has announced the 2021 edition of the Prize Account Scheme. The 2021 scheme makes winning easier by providing more chances for customers to win from draws to be held in categories – prizes per branch, grand prizes, special prizes and mega prizes. The scheme had seen over 4,900 winners since 2016, and still counting. The prize scheme will be valid from January 2021 and will run till 31st of December 2021.
Commenting on the 2021 Prize Account Scheme, Nasser Said Al Bahantah, Chief Retail Banking Officer, Maisarah said, “We have gained a lot of attention and positive feedback to our Prize Account Scheme in the last few years. Over the past years, we have seen more than 4,900 winners, and we look forward to see more customers join the winners in this year's scheme. It is very easy to open this account which is based on the Islamic proﬁt sharing concept of Mudarabah. The scheme has been encouraging people to take charge of their finances and rewarding them substantially for their saving habits. Maisarah will continue to provide all customers with the best products and superior experience.”
Customer is entitled to the draw of the Prize Account when an average balance of OMR 100 is available for one week for weekly draws and for a month for other draws. For every OMR 100 of average balance in the account, Customer will get 1 chance to participate in the draw. Anticipated profit rate up to 2.5% p.a. subject to the weightages applicable for each month. Based on the Islamic concept of Mudarabah, this account is Shari’a compliant. The prizes will be given from the shareholders’ funds.
Throughout the year customers have a chance to win from prize draws to be held in every branch. This includes weekly draws, with a total of OMR 171,600 to be held throughout the year during which three winners will from each branch per week will get the chance to win OMR 100 each. The total monthly prizes are OMR 343,200. Under the monthly draw children will get a chance to win OMR 100 each (one winner from each branch per month), one Standard and Affluent Banking customers will get a chance to win OMR 500 each, (one winner from each branch per month), and one Priority Banking customer will get a chance to win OMR 2,000 per branch every month.
Maisarah will hold special prize draws on specific occasions such as Omani Women's Day with a total prize of OMR 11,000, and National Day with a total prize of OMR 55,000. To show appreciation to all women in Oman for their contributions to the society, the Prize Account Scheme will pick one woman per branch who will win OMR 1,000 each. As part of the National Day Draw, five winners from every branch will have the chance to win OMR 1,000 each.
As part of the scheme, Maisarah will conduct Mid-year Prizes with a total amount of OMR 16,000, under which a draw to will be held for children, where one customer will win OMR 1,000. For Standard and Affluent Banking customers, one winner will have a chance to take home OMR 5,000. For Priority Banking customers, one winner will take home OMR 10,000.
Maisarah will also conduct Mega Prize Draws with a total amount of OMR 112,000. The draw will include children draw, in which one customer will take home OMR 2,000. The yearly Mega Prize Draw amount is OMR 10,000 (for standard and affluent banking customers) for one winner each, and OMR 100,000 (for priority banking customers) for one winner.
Prize amounts allocated for the new branches expected to be opened during the year will be distributed through special draws on special events announced during the year.
Since its inception 30 years ago, BankDhofar has maintained a pioneering position, and has become one of the most trusted brands among the Banking sector in the Sultanate. This achievement was possible through strategic planning employing the best technologies, international processes, and practices.
Commenting on that, Ahmed Said Al Ibrahim, Chief Operating Officer at BankDhofar said: "BankDhofar is one of the prominent brands in the banking sector. Being the second largest bank in market share, we have played a crucial role, in shaping the Banking and financial landscape of the Sultanate. We believe that our customer's satisfaction is the reflection of our success. Therefore, we have focused in our journey on creating unparalleled customer experience through our customer touchpoints including branches and digital banking channels."
Around the Clock Convenient Banking Experience
Providing a convenient banking experience has always been the top priority for Bankdhofar since its inception, putting technology and innovation at the core of its strategy to improve the experience of its customers. Customers may conduct their transactions at ease and around the clock through the highly-secured and user-friendly digital banking channels. BankDhofar's, award-winning, Mobile Banking App offers a wide range of exclusive services. The services include; instant transfer to any bank in the Sultanate, cardless cash, mobile top-up for all telecom providers in the Sultanate, increasing daily withdrawal limit to OMR 5,000, Instant International money transfer service with Western Union, among other services.
Through Internet Banking, BankDhofar provides several features for retail and corporate customers. Additionally, BankDhofar customers may access the financial services through a wide network of ATMs and CDMs around the Sultanate. The Bank launched Cardless ATM Banking Services using mobile. The first of its kind service in the world enables customers to conduct ATM transactions easily only by using their mobile numbers. Additionally, with the user-friendly IVR system, BankDhofar customers can enroll and avail for their banking services very easily and in a fast-paced manner.
Along with the services provided over BankDhofar's digital channels, BankDhofar customers may conduct their payment transactions conveniently through BankDhofar cards with the 'Tap & Go' feature. This feature allows customers to pay on the go for shopping, traveling, or for any payments. The cards are highly secured and come with an RFID protection card and cover. BankDhofar credit cardholders may benefit from the Rewards Program and enjoy holidays, travel, shopping, and a better lifestyle for free. Every time they use BankDhofar’s credit cards, they earn points which may be redeemed at various shopping outlets, restaurants, cafes, health clubs and spas.
Revamped Branches Providing the Best Customer Experience
With its prime locations, BankDhofar exerts its efforts to enhance the overall customer experience and journey by revamping several branches across the Sultanate. The top-notch revamped branches are designed to provide convenient banking experience to the customers, reflecting the traditional Omani culture of hospitality. Placing customer experience as the heart of the design the BankDhofar branches affords customer with privacy, hospitality and a personalized experience.
The bank has also introduced Drive-Thru Banking Services with the aim of providing state of the art services that ensure utmost convenient banking experience. The first of its kind service in the Sultanate enables customers to conduct transitions without stepping out of their car, including; cash deposit and withdrawal, cheque deposit, instant debit card issuance, bank transfers, and request for account statements. The service is now available in Al Seeb Town branch and is planned to expand across other branches.
To enhance customers' banking experience, BankDhofar branches at Muscat International Airport, Muscat Grand Mall, Mall of Muscat, Falaj Al Qabail, Sur- City Centre, and Salalah Gardens Mall serve the customers for extended working hours till 9 pm.
Employees' Talent Development for Best Customer Experience
BankDhofar strongly believes in continuous training and talent development of its staff to best serve the customers. Thus, the Bank provides various training and development courses through its Performance Academy. Equipped with state-of-art facilities, Performance Academy includes classrooms where training sessions are conducted, a library full of resources, and Computer labs. Additionally, intending to equip its employees with the required skills to best serve the customers, the academy includes a mock branch where employees are trained and they go through real experience. BankDhofar, through the academy, aims to make training available to all its employees through its branch network across Oman. Certified online learning and development courses will be available for the staff of BankDhofar across different regions.
BankDhofar is considered one of the best banks in the region, with a strong presence in Corporate Banking, Retail Banking, Treasury, and Project Finance. The Bank caters to customers’ needs and requirements and sets the standard for the best customer experience within the banking industry in the Sultanate through innovative products and creative solutions. Following best international banking practices, provision of outstanding customer experience, in addition to its commitment to community development and contribution to the growth of the national economy, has placed BankDhofar at the top of the list of best banks in the region. BankDhofar has a reputation of commitment, foresight and solid growth. The Bank has maintained a high level of Omanisation ratio and strives to offer Omani nationals with sound career and development opportunities.