Sunday 27 September 2020

Ithmaar Bank awards second $1m loyalty prize

MANAMA, January 16, 2020

Ithmaar Bank, a Bahrain-based Islamic retail bank, presented its second ever $1 million grand prize of its Thimaar loyalty scheme to Bahraini mother of five, Mariam Mohammed Abdulla Al Eid.

Al Eid won the prize draw for December and received her cash prize from Ithmaar Bank chief executive officer Ahmed Abdul Rahim and deputy chief executive officer - Banking Group Abdul Hakeem Al Mutawa at a ceremony held at The Avenues Mall.

In attendance were other Thimaar winners as well as Ithmaar Bank general manager - Retail Banking Group, Mohammed Janahi, members of the Ithmaar Bank management team, and a large audience.

“On behalf of all of us at Ithmaar Bank, we congratulate Mariam and her family, and all the other Thimaar winners,” said Ahmed Abdul Rahim. “The Thimaar scheme, now in its tenth year, is not only designed to encourage responsible financial behaviour by making saving more rewarding, the prizes also have the potential to change lives.”

“At Ithmaar Bank, we remain committed to improving our services and rewarding our loyal customers. Whether the amount is large or small, keeping a little aside for the future is always a wise decision, and we also try to make saving easier for our younger customers through a special junior account.

“Ithmaar Bank offers the highest number of prizes of any similar scheme in Bahrain, providing additional incentives for savers. We look forward to offering more valuable prizes and announcing other winners later this year,” he added.

“Although I was trying hard to save for the future, I thought it would take years to reach my financial goals – but, thanks to saving in the Thimaar account, I am thrilled to be a millionaire,” said Al Eid. “It’s an amazing feeling and I’m very grateful to Ithmaar Bank.”

The prize purse of Thimaar account during 2019 was $4,424,000, which includes two grand prizes of $1 million each for just a BD30 deposit. During 2019, a total of 3,206 prizes were awarded, the most offered by any bank in Bahrain, with monthly prizes totalling $1,764,000 and junior prizes totalling $384,000.

Along with cash prizes, the Thimaar account also offers a profit rate on the balance maintained. In July 2019, Dr Abdulhannan Abdul Hameed Darwish, a Bahraini father of six, pledged to donate $100,000 to charity after Ithmaar Bank named him the first ever Thimaar millionaire.

Thimaar loyalty draws offered additional prizes to customers who have not won a prize in the past two years. In 2019, Ithmaar Bank added an additional 50 prizes worth a total of $250,000. This was on top of the existing $660,000 Thimaar loyalty prize purse where 1,212 winners could win loyalty cash prizes throughout the year.

Every BD30 ($79) maintained as an average balance qualifies Thimaar account holders to enter the monthly draws. The more customers save, and the longer they maintain balances in multiples of BD30, the more opportunities they have to win. – TradeArabia News Service


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