Bahrain, January 10, 2011
Bahraini retail and commercial banking institution, BMI Bank, announced the launch of its flagship savings product under a revised brand name and with an increased prize pool of $1,660,000. Ayadi, the new saving scheme which replaces the banks previous Al Mazyona saving scheme, will offer customers an opportunity to win one of the biggest grand prizes on the island, in addition to prizes given away on a monthly and quarterly basis.
As an extra feature customers who open an account or increase their deposits thirty days before the draw date will be rewarded with the chance to win 7 grand prizes worth $955,000 which will be given away during Eid Al Fitr, Eid Al Adha and on Bahrain's National day.
Jamal Al-Hazeem, Chief Executive Officer of BMI said: "In line with our commitment to constantly improve our products and services based on customer feedback, I am pleased to announce the launch of Ayadi which is the only saving scheme that offers customers grand prizes on all three Eid's during the year including our National day. This innovation, a result of the new product development strategy within the retail segment, ensures our products match and exceed our customers' needs and expectations.
As our flagship retail product, we have been impressed with the tremendous customer support the scheme received over the past few years and believe the increase in prize value both within the scheme and the grand prizes will prove to be attractive to our existing and new customers. At BMI Bank, we believe that such innovations help in enhancing our product offering and makes our Bank a stronger choice."
The first draw will be held on the 6th of February with the names of the winners announced on a Tuesday in both English and Arabic newspapers as well as on the Bank's website.
Thereafter the draws will be held on the first Sunday of every month, officiated by the representative from the Ministry of Industry and Commerce (MOIC) along with the internal and external auditors and in accordance with Bahrain Banking and Chamber of Commerce laws.
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