Bahraini retail and commercial lender BMI Bank has announced that its Ayadi savings scheme has become bigger with the addition of more features and benefits.

This year Ayadi's prize pool has been expanded to more than $1.9 million with 396 prizes being given away. This will include six grand prizes, 300 monthly winners, 30 Ramadan prizes and 60 special cash prizes for students, to be given out throughout the year, said the bank in a statement.

Ayadi will be giving away six three-bedroom A5 type 'Al Yasmeen' Diyar Homes Villas in Muharraq, as grand prizes every two months.

Additionally, five prizes worth $500 each will be given out monthly to students who have an eligible Ayadi account, while six monthly draws will be organised to award one winner getting $5,000 and 49 winners with cash prizes of $500 each.

Moreover, special prizes of $500 to be given during Ramadan have also been announced by BMI Bank for its Ayadi Savings Scheme customers.

To be eligible for the prize draw, customers can open an Ayadi Savings Account at any BMI Bank branch in Bahrain with a minimum deposit of BD50 ($132).

This year, Ayadi has a new logo that signifies the rich cultural heritage of Bahrain and draws inspiration from the traditional Eidiya gifted during Eid.

The new design also signifies the growth and transformation of Ayadi and aims to enhance its appeal among customers.

"Over a span of three years, our Ayadi Savings Scheme has grown rapidly as it has continued to serve the savings needs of our customers with long-term benefits and flexible returns," BMI Bank chief executive Jamal Al Hazeem said.

The Ayadi Savings scheme draws will be officiated by representatives from Industry and Commerce Ministry along with the internal and external auditors and in accordance with Bahrain Banking and Chamber of Commerce laws.-TradeArabia News Service