CBI introduces ‘Mabrook’ - Innovative Saving Scheme Launched in the UAE

6/9/2008

Starting June  2008 CBI gives nationals and expatriates a chance to win
AED 10,000 every week

Commercial Bank International (CBI) today announced the launch of a new raffle saving scheme, Mabrook, a saving solution is aiming to provide the advantage of a low balance saving scheme with a high return weekly raffle offering a prize of AED 10,000 every week.

Aimed at UAE’s national and expatriate communities, Mabrook’s launch is one of the many initiatives designed to reflect CBI’s customer-centric objectives for 2008.

“Mabrook is our way of saying thank you and congratulations at the same time; and we’re happy to be able to present this unique product to all UAE residents. Our intention is to encourage the concept of saving, even if it means starting small and nurturing those savings to help our customers realise their bigger goals and aspirations,” said Douwe oppedijk, CBI’s Chief Executive Officer.

Mabrook is scheduled to go live on Monday 9 March 2008, and will offer customers the benefit of a savings account and a chance to win AED 10,000 in the weekly lucky draw for a minimum required balance of AED 100. The inaugural draw’s winner will be announced on 19th of june, 2008 and consecutive weekly draw will follow.. 

The Mabrook savings scheme mirrors the region’s popular raffle saving scheme concept; but distinguishes itself by uniquely addressing consumers looking for a saving solution that tailors itself to a range of diverse income brackets coupled with a high frequency raffle draw.

In order to participate, residents are invited to open a Mabrook savings account with a minimum initial balance of AED 100, which qualifies the customer for one chance in the weekly lucky draw. With every additional AED 100 in the savings account, a customer receives an additional chance to enter into the lucky draw, thereby increasing his / her chances to win.

“Not only does our weekly scheme give our customer more chances to win, it also provides the advantage of multiple entries; which means every weekly winner has the opportunity to participate in the next draw, regardless of how many times he or she wins,” said Hesham Abdulla ,Acting Head of Retail Banking Group, CBI

Mabrook saving’s scheme will additionally offer free accidental life insurance equal to the available balance with a maximum sum insured of AED 100,000. The Mabrook saving scheme gives the customer the freedom to operate as a single account holder or as a joint account and provides an international debit card facility enabling all account holders to access their funds anywhere, anytime. Additionally, CBI also offers one of the competitive interest rates compared to similar schemes

“Mabrook is a product that reflects CBI’s commitment to customer-centric solutions and services, the saving scheme not only provides the opportunity to win, but also gives the customer flexible options, in terms of ownership and access,” said Hesham Abdulla, CBI