MANAMA, BAHRAIN – Ithmaar Bank B.S.C. (closed), a Bahrain-based Islamic retail bank, announced the November draw’s winner of Ithmaar Reward Programme that is designed exclusively for corporate Modaraba accountholders.

The draw was held at the Bank’s headquarters in Seef district and was coordinated and supervised by the Ministry of Industry and Commerce (MOIC), as well as external auditors BDO Bahrain and the Bank’s internal auditors.

Alomara Upholstery Company won the prize, which is an additional 1% of profit on the modaraba amount. The ceremony was attended by the Operations Manager of Alomara Upholstery Company, Sayed Mohammed Al Mosawi.

“We are pleased to win a prize from Ithmaar Reward Programme that is designed exclusively for corporate Modaraba accountholders,” said Al Mosawi. “We appreciate Ithmaar Bank’s efforts to support corporate clients and provide special services to facilitate the financial management of our businesses in order to achieve further growth and development,” he said.

“On behalf of all of us at Ithmaar Bank, we congratulate Alomara Upholstery Company and all its team for winning a prize from Ithmaar reward programme, which we have launched as part of the Bank’s efforts to provide an exceptional banking experience to its corporate clients,” said Ithmaar Bank Senior Manager in the Corporate Banking Department, Haitham Al Khaja. “Ithmaar will continue to work on further strengthening its partnership with its corporate clients and enhancing its products and services provided to them in line with their financial demands and requirements,” he said.  

Ithmaar Reward Programme, that is designed exclusively for corporate Modaraba deposit accountholders, aims to encourage corporates as well as Small and Medium Enterprises (SMEs) to invest more in the Bank’s Modaraba account to increase their chances of winning rewarding prizes. Modaraba accounts of six (6) months and longer tenors, with an amount of BHD100,000 or USD 250,000 or higher are qualified to enter the draw to win an additional 1% of profit on the modaraba amount. The draws of Ithmaar Reward will be held on a monthly basis and a winner will be chosen every month.

About Ithmaar Bank:

Ithmaar Bank B.S.C. (closed) (“Ithmaar Bank”) is a Bahrain-based Islamic bank that is licensed and regulated by the Central Bank of Bahrain.

Ithmaar Bank is a wholly-owned subsidiary of Ithmaar Holding B.S.C. which is listed on the Bahrain Bourse and Dubai Financial Market. 

Ithmaar Bank provides a diverse range of Sharia-compliant products and services that cater to the financing and investment needs institutions. Ithmaar Bank also maintains a presence in overseas markets through its subsidiary, Faysal Bank Limited (Pakistan).

www.ithmaarbank.com