Finance & Capital Market

Ithmaar Bank re-launches Thimaar savings account

Ithmaar Bank, a Bahrain-based Islamic retail bank, has re-launched its Thimaar savings account, offering its Thimaar account holders 2,271 prizes - the highest number of winners by any bank in Bahrain.

Ithmaar Bank will also offer a total prize purse of $4,165,000, including one grand prize of $1 million and six quarterly prizes worth $100,000 each, along with other cash prizes, making Thimaar account one of the most rewarding saving schemes in the Kingdom.

“Ithmaar Bank is committed to becoming the retail bank of choice,” said Ithmaar Bank Deputy Chief Executive Officer, Abdul Hakeem Al Mutawa. “We are constantly working to enhance our customers banking experience. In line with the Bank’s customer-centric commitment to delivering a superior banking service, we work hard to improve the Thimaar savings account as part of the Bank’s commitment to listening closely to its customers’ requirements.”

“We noticed a pronounced, perhaps an obvious customer demand for increased chances to win large cash prizes for prize-based saving accounts, and we restructured Thimaar accordingly with customers being able to win $1 million, along with other six quarterly prizes worth US$100,000 each,” he added.

“This year, we added further incentives by offering loyalty prizes, as well as introducing other additional monthly cash prizes, along with Eid prizes to allow more customers to win during the special occasions. Additionally, Thimaar junior account holders will also have more chances to win. The more they save, and the longer they maintain balances in multiples of BD30, the more opportunities they have to win.”

Customers can now instantly open a Thimaar account directly from their mobile phones, without the need to physically visit a branch. Bahraini and non-Bahraini residents can now securely open new accounts in just a few minutes by simply downloading Ithmaar Bank’s mobile app from anywhere and at any time.

Thimaar, Arabic for fruits or harvest, is a prize-based saving account that Ithmaar Bank introduced to help encourage its customers to save. 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. – TradeArabia News Service