Bahrain based BMI Bank (BMI), an associate of BankMuscat the largest financial services provider in Oman, today announced the launch of an updated prize structure for its flagship product - the Al Mazyona saving certificate prize scheme. Holders of the certificates will now be entitled to win a total of 812 cash prizes in a calendar year, giving customers a higher chance to win. Instead of fourteen weekly prizes, the new Al Mazyona prize scheme will now offer twenty weekly cash prizes of US$1000 each and one monthly cash prize of US$10,000. Additionally, a new grand prize has been introduced, where customers who retain their certificates for a minimum of one month prior to the grand prize will be rewarded with the chance to win US$100,000.

Andrew Bainbridge, Chief Executive Officer of BMI said: “I am delighted to announce this refreshed Al Mazyona prize scheme which now provides customers with a distinct winning advantage. Our products are designed to meet and exceed the needs of customers. In response to what many of our customers have told us, the most important factor in choosing a savings scheme to invest in is the chance of winning. Now with a total of 812 prizes we demonstrate our commitment to bringing new and existing customers even closer to winning than they have been before. As we continue to look at the market landscape, and listen to what our customers tell us, we plan to bring better benefits to our customers throughout 2010 through product and service innovation.”

The Al Mazyona saving certificate is available for anyone over the age of 18 and is priced at BD 50 each. Certificate holders will automatically enter into the weekly draw 7 days from the date of purchasing the certificates, and are eligible for the monthly and grand prize draws 30 days form the date of purchase with the exception of the draw days. The first refreshed prize scheme draw was held on the 10th of January 2010. The names of the 20 winners were announced on a Tuesday in English and Arabic newspapers. Thereafter, draws will be held at the bank’s corporate premises in Manama every Sunday at 10:00 AM, officiated by the representative from the Ministry of Industry and Commerce (MOIC) along with the internal and external auditors and in accordance with Bahrain banking and Chamber of Commerce laws.