: Kuwait Finance House (KFH) has launched a new campaign for Al-Hassad investment saving account, allowing customers to enter weekly, monthly and quarterly draws based on their account balances.

 The draws offer KD 1000 weekly, KD 100,000 monthly and KD 250,000 quarterly in addition to prizes between 100 to 250 thousand Kuwaiti Dinars worth of value, as well as the year-end profits distribution.

KFH Deputy General Manager-Products, Nehal Almosalem, said that Al-Hassad is based on the Wakala investment principle. On such a basis, the Bank invests the entire account balance at an expected profit rate agreed upon in advance with the customer.

She added: “Al-Hassad offers weekly, monthly, and quarterly draws, a total of 400 prizes, in addition to the year-end profits distribution. The account meets the aspirations of a wide segment of customers who wish to invest in their funds through a multi-featured banking account.”  

To facilitate customer access and provide the opportunity to a wider segment of clientele, Almosalem pointed out that Al-Hassad account can be opened in KFH branches, KFH online, and ATMs.

Speaking about the eligibility criteria, Almosalem explained that 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. The customer will have a maximum of 30 thousand chances in one draw. Accordingly, KFH will deposit the value of prizes in the winning customers’ accounts.

Almosalem stated that 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.