Al Salam Bank launches ‘Danat Al Salam’ scheme

Al Salam Bank-Bahrain announced yesterday the launch of its new investment savings scheme ‘Danat Al Salam’ inspired from Bahrain’s renowned pearl heritage and offering bigger rewards every month. 

The ‘Danat’ savings scheme is a fully Shari’a-compliant product offered to customers of both Al Salam Bank and BMI Bank for a chance to win valuable monthly and quarterly prizes, including 4 Grand cash prizes valued at US$700,000, 408 ‘Gmash’ monthly prizes, 170 ‘Sujni’ special prizes and 10 ‘Fusoos’ Ramadan prizes to be given out throughout the year. In addition to this, the scheme will also offer an attractive annual profit feature that would help customers’ secure additional financial
returns.

Marking the launch of the new Danat savings scheme, Al Salam Bank’s Group Head of Retail Banking Abdulkarim Turki said, “The savings scheme comes as a result of the new product development strategy within the retail segment to ensure our products match our customers’ needs and reward them for their financial commitment with the
Bank.”  

Four winners will receive one of the four grand prizes each at the quarterly prize draw. The grand prizes include ‘Al Dana’ (US$250,000), ‘Al Hasbah’ (US$200,000), ‘Al Golwah’ (US$150,000) and ‘Al Badla’ (US$100,000). 

Additionally, the new scheme will award more than 50 ‘Gmash’ monthly prizes total worth value US$75,000 including ‘Gmash monthly Grand’ prize of US$50,000. Moreover, the Bank also announced more than 150 ‘Sujni’ special prizes valued at US$275,000. This is in addition to 10 ‘Fusoos’ prizes, which will be rewarded to mark the holy month of Ramadan.  

To be eligible for the prize draw, customers need to open a Danat savings account at any Al Salam Bank-Bahrain or BMI Bank branch with a minimum deposit of BD50. The Danat Savings scheme draws will be officiated by representatives from the Ministry of Industry and Commerce (MOIC) along with the internal and external auditors and in accordance with Central Bank of Bahrain and Chamber of Commerce laws.