13 Jan 2018
MANAMA, BAHRAIN – 13 January 2018: Ithmaar Bank, a Bahrain-based Islamic retail bank, re-launched its Thimaar savings account for a new year, offering its Thimaar account holders 4,015 prizes – the highest by any bank in Bahrain. Ithmaar Bank also increased the total prize purse to US$3,170,000, including three grand prizes of US$250,000 each, making it one of the largest to be won in the Kingdom – all for a BD30 deposit.
“Ithmaar Bank is committed to becoming the Islamic retail bank of choice,” said Ithmaar Bank Deputy Chief Executive Officer – Banking Group, Abdulhakeem Al Mutawa. “In line with that commitment, we are constantly working to enhance our customers’ Islamic banking experience,” he said.
“To do so, we work to continuously improve our products and services while growing closer to customers and, as result, our Thimaar offering is revised and improved every year,” said Al Mutawa. “We noticed increased customer interest in Thimaar savings with corresponding increase in business and decided the best way of rewarding these loyal customers is by increasing the number of prizes thereby increasing their chances to win – and we structured Thimaar accordingly, then worked to further enhance our offerings every year,” he said.
“The Thimaar account was designed to encourage people to adopt a more responsible saving pattern by offering cash prizes, along with an expected profit rate, as an additional incentive to save and invest for their future,” said Al Mutawa. “I am delighted to note that, over the years, our Thimaar account has been to be able to touch and change the lives of so many of our customers,” he said.
In 2018, Thimaar account will offer a total of US$3,170,000 in prizes- including US$1,320,000 monthly prizes, US$750,000 grand prizes that includes US$250,000 for each winner, US$600,000 Eid prizes, US$300,000 Thimaar junior and US$200,000 national day prizes- to a total of 4,015 winners.
Every BD30 maintained as an average monthly balance qualifies a customer to enter the draws. The more customers save, and the longer they maintain balances in multiples of BD30, the more opportunities they have to win.