Bank Sohar launches 'Al Khaas' Relationship Banking service

Muscat: In its commitment to banking excellence, Bank Sohar has launched ‘Al Khaas’, a visionary new relationship banking service that features an extensive range of customised and specially designed features and facilities with a focus on personalised service experience through dedicated relationship managers, wealth advisers, exclusive banking centres, dedicated call centre, superior benefits, prize draws, rewards, and much more.
Al Khaas Relationship Banking is a unique value proposition specially designed by Bank Sohar to cater to the needs of its HNI customers by offering them a differentiated banking experience. Al Khaas customers can enjoy privileged access to dedicated and highly qualified relationship manages in all its 31 branches across Oman. Adding more to the unique experience, Al Khaas customers have dedicated service centres in selected large branches currently with plans to further expand the network across the Sultanate.
Marking the official launch of Al Khaas, Sasi Kumar, acting CEO of Bank Sohar, said, “In this year aptly named the ‘Year of You’ we are determined to deliver unique products and services with a firm vision focused on elevating banking experience of our valued customers. To this end, the bank has worked tirelessly to provide an experience that exceeds the highest expectations with a robust commitment to banking excellence. From expert investment advice to personalisation on an exclusive range of products and preferential services, we are positioning ourselves as partners with our valued customers enabling them to attain their financial aspirations.”
Rajeev Arora, DGM and head of Retail Banking at Bank Sohar, said, “We are proud to announce Al Khaas as a unique value proposition to our HNI customers further fulfilling our promise to our customers as the ‘Year of You’. This step truly reflects our vision to become a one-stop financial super mall having boutiques of products and services across various segments, each with a unique set of propositions. By continuously engaging and understanding our customers’ lifestyle, we aligned Al Khaas’ offering to their ambitions and visions, and we will continue on our strategy to keep enhancing and add value to their banking experience with Bank Sohar.”
With the aim of making Al Khaas’s unique value proposition available to a larger population, and leveraging on understanding the unique banking requirements of a growing customer base, Bank Sohar has devised three categories under Al Khaas; namely Al Khaas Plus, Al Khaas Premium and Al Khaas Supreme, all promising outstanding tailor-made features and services. Each subcategory provides its own set of unique selling propositions for the client fulfilling their respective financial requirements and meeting their aspirations.
Al Khaas Wealth Management delivers qualified wealth management advisors to carefully analyse customers’ financial needs, offering tailor-made investment and financial solutions that are capable of meeting customers’ objectives and growth of wealth. As an exclusive market proposal, Al Khaas brings customers convenient subscriptions to IPOs and other investment opportunities with special assistance and a faster completion of the formalities, which enable prompt facilitation in areas of interest. Attractive Term Deposit rates further deliver a healthy and guaranteed return on investment, with relationship managers sharing the prevailing rates of interest applicable to the minimum amount and maximum period of customer deposits.
Al Khaas’ Ready Cash brings the convenience of instant liquidity through a 24/7 overdraft facility as a hybrid financial solution combining the high returns of a term deposit. Instant Interest Fixed Deposit Accounts benefit the bank’s customers in receiving interest upfront. The interest amount for the entire tenor of the Fixed Deposit is credited to customers’ Savings Account at the time of opening the Fixed Deposit. Protection and Investment Products further extend Bank Sohar’s customer benefits to family members through the bank’s Insurance partners.
Al Khaas customers will further be eligible to participate in all of Bank Sohar’s Savings Scheme prize draws, including its exclusive draws, providing customers with the chance to win high-value cash prizes throughout the year. The higher customers’ balances are the greater the chance of winning in daily, monthly, and annual draws. Preferential banking products and services set customers of Al Khaas apart, with free customised and personalised chequebooks, invitations to programmes and social events organised by the bank, higher purchase limits at point-of-sale with debit cards, Al Khaas Signature debit cards with high ATM withdrawal limits, a Signature credit card, free personal accident insurance, travel insurance, SMS, internet, and mobile banking services, preferential pricing on deposits, foreign exchange and remittances.
In what the bank has highlighted as ‘The Year of You’, the market has observed a broad range of customer-focused initiatives by Bank Sohar, including the release of new credit card and insurance products, and the launch of an enhanced international remittance facility to India, new branch activations, and service upgrades including greater digitisation.