KIB announces the winners of the new “Al Dirwaza” account’s monthly draw

Al Dirwaza account is the best of its kind in Kuwait for offering the highest monthly expected returns and cash prize draws

Kuwait, … March 2023:

Kuwait International Bank (KIB) announced the names of the winners in the third Al Dirwaza account monthly draw, based on customers' March 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, Lulwah Abdulhadi Abd Mutib won KD 10,000, whilst the KD 1,000 prize was awarded to 10 winners in total: Hardeep Sing Sahni Sing Sahni,Ahmed Assem Mohamed Mahmoud, ABRAR WALEED JASSIM ALSHARQAWI, DHERAR SALEH ALI ALTARARWAH, Abdullakutty V A Haji, ANWAR FAHAD KHALIFAH ALDEEI, Ali Abdoh Abdin Musa, Khaled Rashid Jiber Shamki, Fahad Meqeid Sultan Alotaibi, YOUSEF ABDULLAH HUSSAIN ALRAMZI.

Speaking about the draw, Ali AlSane, Manager - Product Development, Digital Transformation & Innovation at KIB, said "We would like to congratulate our valued customers who were the lucky winners in this third Al Dirwaza Account draw. We also wish the rest of Al Dirwaza account holders the best of luck in the upcoming monthly draws." He added: "As a Bank, we remain committed to KIB's strategy of rewarding our customers while focusing on ensuring their satisfaction and earning their trust. Accordingly, we remain committed to continue offering premium banking products that meet their needs and aspirations, backed by the greatest benefits that give them added value and cater to their modern lifestyles. We also provide banking solutions suitable for all customer segments."

It serves to note that Al Dirawaza 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 up to 2% disbursed on 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 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 two months 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 doesn't 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.