Ithmaar Bank, a Bahrain-based Islamic retail bank, re-launched its Thimaar savings account, offering its Thimaar account holders 2,016 prizes – the highest number of winners by any bank in Bahrain. Ithmaar Bank will also offer a total prize purse of BD1,614,000, which includes four quarterly grand prizes of BD100,000 each, 12 winners of monthly salaries worth BD1,000 for one year for each winner, along with other monthly cash prizes, making Thimaar account one of the most rewarding saving schemes in the Kingdom.
“Prize-based savings accounts are now almost an essential product within the retail banking industry, so it has become increasingly challenging for banks to find new ways to differentiate their products from those of competitors,” said Ithmaar Bank Deputy Chief Executive Officer, Abdul Hakeem Al Mutawa. “Following a thorough study and analysis of the market, we decided to offer prizes in Bahraini Dinars, and to continue to offer the highest chances of winning in the Kingdom, which is an extremely attractive prospect for savers,” he said.
“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, as an additional incentive to save and invest for their future,” said Al Mutawa. “I am delighted to mention that, over the past years, our Thimaar account has been able to change the lives of so many of our customers,” he said.
“This year, we also continue to offer further incentives to our customers by offering quarterly grand prizes, monthly salaries, loyalty prizes, other additional monthly cash prizes, along with prizes during the special occasions,” said Al Mutawa. “Additionally, Thimaar junior account holders under the age of 18 will also have more chances to win. This is another differentiator which helps us nurture relationships with our customers and encourage them to save from a young age,” he said.
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.
Every BD30 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.
Customers can view the winners list by visiting the Bank’s website at: www.ithmaarbank.com/thimaar