KUWAIT: Continuing its dedication to rewarding customers and fulfilling their requirements, Gulf Bank has unveiled plans to distribute a total of KD 100,000 as the prize for the upcoming draw, scheduled for Oct 17, 2024. Rather than one winner taking it all, 100 lucky individuals will each walk away with KD 1,000.

Last year, Gulf Bank increased the grand prize amount from KD 1.5 million to KD 2 million, establishing a Guinness World Record for the largest cash prize associated with a bank account worldwide. Now in its 26th consecutive year, the Al-Danah Millionaire account draw schedule, established in 1998, has been updated to include two significant annual draws. The yearly grand prize has been set at KD 2 million, and the semi-annual prize at KD 1 million.

In addition to these major prizes, there are monthly draws that reward ten winners with KD 1,000 each. A draw for KD 100,000, previously announced on April 18, is part of the schedule. The year’s second draw will similarly divide KD 100,000 among 100 winners, awarding each KD 1,000.

On this occasion, Mohammad Al-Qattan, Gulf Bank’s General Manager of Consumer Banking, said: “At Gulf Bank, it’s our tradition to prioritize rewarding all our customers and especially Al-Danah account holders. This change is designed to expand the number of winners and beneficiaries of the Al-Danah Millionaire account, highlighting our commitment to encouraging and inspiring our customers to save.”

He added that the bank consistently engages with customers to understand their needs and requirements, and promptly responds to them. “The Al-Danah Millionaire account is among the best savings accounts in Kuwait, offering valuable prize draws and numerous benefits to account holders.

It is also one of the oldest and most prestigious savings accounts in Kuwait, designed to instill a culture of saving within the community and reward regular savers for their commitment. We urge everyone to open an Al-Danah account, save consistently, and enjoy the array of benefits it offers to customers.

Al-Qattan emphasized a unique feature of the Al-Danah Millionaire account: it is the only account in Kuwait that rolls over customers’ chances of winning from one year to the next. This is part of a loyalty program designed to reward customers for their ongoing commitment to Gulf Bank.

He also mentioned that the Al-Danah Millionaire account is accessible to both Kuwaiti citizens and expatriates. To open the account, customers need to maintain a minimum balance of KD 200, ensuring they retain the same amount to qualify automatically for the upcoming Al-Danah Millionaire draws. If the balance falls below KD 200 at any point, KD 2 will be deducted monthly until the minimum balance is reinstated. Customers who open a new Al-Danah Millionaire account or add more funds, will be automatically entered into the Al-Danah draws.

Gulf Bank’s vision is to be the leading Kuwaiti Bank of the Future. The Bank is constantly engaging and empowering its employees as part of an inclusive and diversified workplace in recognition of every employee’s role in delivering customer excellence and serving the community at large. With its extensive network of branches and innovative digital services, Gulf Bank is able to give its customers the choice of how and where to conduct their banking transactions, all while ensuring a simple and seamless banking experience.

Gulf Bank is committed to maintaining robust developments in sustainability at environmental, social and governance levels through diverse sustainability initiatives, strategically selected to benefit the Bank both internally and externally. Gulf Bank supports Kuwait Vision 2035 “New Kuwait” and works with various parties to achieve it.