Khaleeji Commercial Bank (KHCB) has announced an expanded reward programme for its Al Waffer scheme for this year.

The Sharia-compliant bank said a total of 485 winners can expect to get prizes this year.

The total cash prize corpus for the year is $1,200,000 with a mega cash prize of $200,000 and five BMW 520 Series cars to be given away.

"For only BD50, customers can open an Al Waffer Account and start investing; not only do they receive annual profits on their investments, but they are also allocated entry into monthly draws for every BD50 they invest in their accounts," KHCB chief executive Khalil Al Meer said.

"Customers also have the exclusive opportunity to double the chances of winning by simply maintaining their investments for a minimum period of one month before any of the monthly draws," he said.

The chief executive said Al Waffer has been a vital part of the bank's portfolio since its launch in 2009 and "through it we have been successful in positively impacting the lives of many valuable customers over the years."-TradeArabia News Service