Ithmaar Bank, an Islamic retail-focused bank, announced the distribution of a $200,000 total prize purse to Thimaar Account winners. Together, a total of 76 Thimaar Account holders won prizes of between $2,000 and $15,000 and one Thimaar customer took home the $50,000 First Prize.
It was the biggest prize distribution since Ithmaar launched its new Thimaar Account, a best-in-class prize based savings account, last September.
The announcement follows the most recent Thimaar Monthly and Quarterly draws, which were held earlier today, for the previous month and the last quarter of 2010, at the Bank’s Headquarters in Seef. The Draw was attended by the Ithmaar Bank General Manager Retail Banking, Ahmed Abdul Rahim, and supervised by the Bank’s internal auditors as well as a Ministry of Commerce and Industry representative, and external auditors from PricewaterhouseCoopers.
Following the two draws, Khalid Ahmed Yousif Abdulla was named winner of the $50,000 First prize, with Ahmed Jaffar Ali Fadhul and Mohammed Ahmed Abdulla each winning an additional $15,000 as part of the Quarterly Draw. A total of 25 Thimaar Account Holders also won $2,000 each as part of the same draw.
Meanwhile, Suhair Abdulghaffar won $10,000, with Sami Hasan, Mohammed Malik and Isa AlGhawi wining $5,000 each as part of the Monthly Draw. A total of 45 Thimaar Accountholders also won $1,000 each as part of the same draw.
“This was the biggest draw we’ve held since Thimaar was launched late last year,” said Abdul Rahim. “I am especially pleased to be announcing so many winners of so many prizes,” he said.
“Thimaar was launched as part of our committed efforts to continuously expand our retail banking offerings by introducing new products and services,” said Abdul Rahim. “This, in turn, allows us to continue with our time-honoured tradition of continuously working to be as close as possible to our customers,” he said.
Thimaar, Arabic for fruits or harvest, is a Sharia-compliant account designed to encourage people to adopt a more responsible spending/saving pattern by offering cash prizes, along with an expected profit rate, as an additional incentive to save. The account offers best of its kind incentives, including free Life Takaful from Solidarity and a built-in loyalty scheme.
Thimaar offers, through Sharia-compliant raffle draws, individual cash prizes of between $10,000 and $150,000 to 49 monthly, 28 quarterly and one annual grand draw winner. This is in addition to the 124 special winners who will win the special Eid Al Fitr and Eid Al Adha prizes.