UAE bank announces first winner of Dh1 million raffle prize

UAE bank announces first winner of Dh1 million raffle prize

The Millionaire Savings Account also gives participants a chance to win 10 monthly prizes of Dh5,000 each

By Web Desk Published: Mon 24 Jul 2023, 12:41 PM Last updated: Mon 24 Jul 2023, 12:51 PM

Ajman Bank has announced the first winner of its Millionaire Savings Account's grand Dh1 million prize. The draw was held on July 13, 2023, during which an automated system selected account holder Samiha Abdulqader as an instant winner.

The Millionaire Savings Account gives participants a chance to win up to Dh1 million twice a year and 10 monthly prizes of Dh5,000 each. Account holders can secure a raffle entry for every Dh10,000 saved by maintaining a minimum balance of Dh10,000.

It additionally gives them a Shari'a-compliant Mudaraba based profit-bearing account and a free Ajman Bank Master Debit Card.

Faizal Kundil, Head of Consumer Banking at Ajman Bank, said the draw "highlights the tremendous success of [the] Millionaire Savings Account and reaffirms our commitment to providing innovative banking solutions to our valued customers".

"This account has been very popular with our customers, and we are pleased to be able to offer them the opportunity to win big while also saving for their future."

The account operates on the principles of Islamic finance and