The best account of its kind in Kuwait for offering the highest monthly expected returns and cash prize draws
Kuwait, 16 September 2023: Kuwait International Bank (KIB) announced the names of the winners in the eighth Al Dirwaza account monthly draw, based on customers’ August deposits. The draw was held in the presence of representatives from the Ministry of Commerce and Industry, as well as representatives from the Bank. In this draw, Abdulwahab Ali Abbas Redha won KD 10,000, whilst the KD 1,000 prize was awarded to 10 winners in total: Sharefa Ahmed Ali AlKandery, Yousef Abdullah Mohammad Ahmad, Basmah Salem AlOthman, Naser Abdulrahman Ahmad AlAhmad, Semri Mohammad Semri AlAzmi, Hamad Abdullah Yousef Alkandari, Jassim Yaqoub Teaib AlShaheen, Eissa Ahmad Ali Ahmad, Hamad Fhaid AlHashmi AlAjmi, and Adel Abd Jaber.
On this occasion, Ali Alsane, Manager - Product Development, Digital Transformation and Innovation at KIB, said: “Today we reaffirm KIB’s commitment to continue ensuring the success of this distinctive monthly draw. We are delighted to congratulate our esteemed customers who were the lucky winners this time around and extend the best wishes to the rest of Al Dirwaza account holders in the upcoming monthly draws.” He added: “At KIB, we are constantly striving to introduce products and solutions that enable us to reward our customers, earn their loyalty, and achieve the highest satisfaction level among them. Driven by KIB’s ‘Bank for Life’ slogan, we continue to exert great efforts toward offering the best banking experience that caters to the modern lifestyles of all customer segments and meets their expectations.”
Alsane asserted that KIB also continues to develop the benefits and advantages of its campaign designed to encourage customers to open an Al Dirwaza account digitally through the KIB Online platform or KIB Mobile application.
It serves to note that Al Dirwaza account is a savings account for individual customers, based on the Wakala investment principle, launched by KIB as one of its banking products for individuals. The account is currently the best of its kind in the sector, with annual expected profits of up to 2% disbursed on a monthly basis, where the customer gets an expected profit of 2% for the first 3 months from the account opening date and up to 1% expected rate onward. The expected profits are automatically deposited into the customer's account within the first day of the beginning of each month.
Al Dirwaza is a draw account as well, whereby 11 winners will be announced every month, receiving prizes of KD 20,000, along with a grand prize at the end of the year of KD 100,000. Al Dirwaza account holders are eligible to enter the monthly and mega draws on the condition of maintaining at least KD 100 in their accounts. For the monthly draws, each KD 1 that has completed a full month’s cycle in the account will count for one chance, and chances are calculated based on the lowest monthly balance preceding the draw. As for the mega draw, chances are calculated for each KD 1 that completes a two-month cycle in the account – based on the lowest two monthly balances prior to the draw.
Al Dirwaza account is also in compliance with the provisions of Islamic Sharia and approved by the KIB’s Sharia Supervisory Board. Furthermore, the account comes with a wide range of benefits, including the ease of opening the account, which does not require a salary transfer, and the customer’s ability to open it remotely without visiting a branch through KIB Online on the Bank’s website or KIB Mobile application on smartphones.
Additionally, Al Dirwaza account automatically grants customers instant issuance of an ATM card, with a KD 2,000 ATM daily withdrawal limit, as well as the ability to issue credit cards against the cash collateral in the account. To open the account and participate in its draws, a minimum of KD 100 is required and can only be withdrawn upon account closure.