Kuwait Finance House (KFH) has announced Mohammed Abdullah Al-Otaibi as the winner of Al-Hassad quarterly draw, winning KD 250,000 in the 2024 quarterly draw.

Al-Hassad is based on the Wakala investment principle, in which the Bank invests the entire account balance at an expected profit rate agreed upon in advance with the customer. Al-Hassad offers weekly, monthly, and quarterly draws, a total of more than 400 prizes.

The draws offer KD 1000 weekly, for 10 winners, KD 100,000 monthly and KD 250,000 quarterly in addition to the year-end profits distribution. The account meets the aspirations of a wide segment of customers who wish to invest their funds through a multi-featured banking account.

To facilitate customer access and provide opportunity to a wider segment of clientele, Al-Hassad account can be opened in KFH branches, KFHonline, and ATMs.

As for the eligibility criteria, the customer must hold the balance for a period of 15 days for an opportunity to enter the draws. The customer will have one chance for every KD 50. If the balance is held for 90 days before the draw date, the customer will get two chances for every KD 50, and three chances for every KD 50 if the balance is held for a period of 180 days prior to the draw date. Accordingly, KFH will deposit the value of prizes in the winning customers’ accounts.

Al-Hassad represents an excellent addition to KFH’s comprehensive suite of financial products, offering a unique opportunity for customers in which the deposited amounts are invested in Al-Hassad based on the Wakala principle.