- Sharjah resident to use winning to purchase family home in UAE
Sharjah-based Mohammed Al Hammadi had been saving for many years to realise his long-standing dream of owning a family home in the UAE. However, when Al Hammadi pooled his savings into Dubai Bankâ€™s Kunooz account in June 2009, he had little hope of realising his dream in less than a year. Earlier this month, however, Al Hammadi was declared the latest winner of Dubai Bankâ€™s million dirham cash prize draw.
â€œI felt truly humbled when I first got to know of my win from the bank officials. I never thought I would be in a position to buy my own family home in 2010. Winning the Kunooz draw has been a gift from God,â€ says Al Hammadi.
A conscientious Muslim, Al Hammadi says he was attracted by the bankâ€™s strong Shariâ€™a principles and innovative savings solutions. â€œHaving first learned about the Kunooz Account from a friend of mine, the unique features of the solution instantly piqued my interest. However, the bankâ€™s Shariâ€™a-compliant investing methodology made it a truly compelling product,â€ says Al Hammadi, who serves in the UAE National Army.
â€œServing in the armed forces often leaves me with little quality time to spend with my family. So, I have always wanted to buy a home where my entire family can live together and one which gives my children a great environment to study and play. Now, thanks to Kunooz, I am confident of making this happen,â€ said Al Hammadi, who is married with two children. â€œI also intend to donate a portion of my winning to charity. However, I still need to decide the best platform to do this.â€
“Dubai Bank is pleased to be able to support its customers in realising their personal goals through our Kunooz monthly cash prize promotion,” said Tariq Al Farsi, Head of Branches at Dubai Bank. “Kunooz was started at a time when the global economy was going through a period of intense strain, and it has stood out as a product that our customers look to for safeguarding their savings and channeling their investments in a Sharia-compliant manner. Indeed over the past three quarters, Kunooz Value Plus account has been one of our most popular products, offering the possibility to optimise profit earnings in a secure manner along with a host of exciting benefits.”
Under the Kunooz monthly cash prize promotion, each multiple of AED 1,000 deposited in the Kunooz Account qualifies the customer for multiple entries into the draw for daily cash prizes of AED 30,000. For every multiple of AED 5,000 deposited, account holders become eligible for entry into the monthly grand prize draw of AED 1 million. The programme also offers participants the possibility to win more than once.