MANAMA, BAHRAIN – 25 February 2020 – Ithmaar Bank, a Bahrain-based Islamic retail bank, will have distributed more than US$ 26 million in prizes to almost 29,000 customers, in the ten years since it launched its prize-based saving account, Thimaar.
To mark the account’s ten-year anniversary, Ithmaar Bank announced it is offering more prizes and more chances to win, with over US$ 4 million up for grabs to more than 3,000 winners this year.
This year’s Thimaar prizes include 100 monthly prizes, three quarterly prizes worth US$ 200,000 each, and a grand prize worth US$ 1 million. In appreciation of the Bank’s loyal customers, the Thimaar loyalty draws offer 90 monthly prizes to customers who have not won a prize in the past year. There are also 60 Junior prizes for the Bank’s younger customers. Additionally, this year, Thimaar will distribute prizes to two monthly Elite customers for depositing amounts of BD 50,000 and above.
This will bring the total number of the winners to 28,859, and the total value of prizes to US$26,499,900, making Thimaar account one of the most rewarding saving schemes in Bahrain.
“Ithmaar Bank is committed to becoming one of the region’s premier retail banks,” said Ithmaar Bank Deputy Chief Executive Officer, Banking Group, Abdul Hakeem Al Mutawa. “We recognise that, to do so, we must listen closely to our customers’ needs and work hard to meet or exceed their expectations. We understand, for example, that customers’ needs evolve over time, which is why we constantly look for innovative ways to improve our offerings,” he said.
“The changes to the Thimaar account over the past decade are a fitting example of our commitment in this regard,” said Al Mutawa. “We look forward to making the scheme even more rewarding in the future, to encourage customers to continue to approach saving responsibly,” he said.
Along with cash prizes, the Thimaar account offers a profit rate on the balance maintained. Customers are entered into the draws by maintaining a minimum balance of BD 30 in their Thimaar account. The more they save, and the longer they maintain balances in multiples of BD30, the more opportunities they have to win.
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