Tejoori Al Islami is a savings account that allows the customer to win substantial cash prizes as a reward on their savings.
The Tejoori Al Islami savings account is a normal Mudharaba based investment account, and all prizes are paid from the shareholders promotional prize account.
What are the features of this account?
Account Structure
- Minimum of BD50 in the account.
- Each BD50 in the account will entitle the accountholder to have 1 certificate to enter the monthly, quarterly and yearly raffles.
- Mudharaba system is applied at the same rate of savings accounts, which are 65% of the profit for the Mudhareb (the Bank) and 35% of the profit for Rab Al Maal (the account holder).
- Deposit or withdraw any amount from the account, knowing that each BD50 in the account will entitle the customer to enter the raffle by one certificate while all other fractions will not be considered in the raffle.
- Every certificate will be entitled to enter the raffle after its minimum of 30 days of the deposit into the account.
- Savings certificate is printed at the time of the creation of the account and the deposit of the amount into the account and at anytime the customer requests.
- Savings certificate will hold the number of all tickets of the customer in addition to the account balance at the time of printing.
- At the customer's request, a new certificate can be issued after every deposit or withdrawal from the account at any branch.
- The winning customers will be required to present the original certificate that holds the winning ticket number for claiming the prize.
- If the customer lost his/her certificate a replacement will be issued by a written request from the customer and after collecting a replacement fee of BD5.
Raffle
- Tejoori Al Islami Raffles will take place at the beginning of each month.
- All raffles will be conducted in the Main branch with the presence of internal and external auditors and a representative from the Ministry of Industry and Commerce.
2012 Prize Scheme
- More than $2,000,000 in prizes.
- More than 1400 winners.
- 5 Grand Prizes totaling $500,000.
- 84 monthly prizes totaling $126,000.
- 400 special prizes totaling more than $50,000 (announced during the year).
| Prize Type
|
No. of Prizes
|
Amount Per Prize
|
Total Prizes Amount
|
| |
|
|
|
| Monthly |
71
|
$1,000 |
$71,000
|
| |
10
|
$2,000
|
$20,000
|
| |
1
|
$5,000
|
$5,000
|
| |
1 |
$10,000 |
$10,000 |
| |
1
|
$20,000
|
$20,000
|
|
Total
|
84
|
|
$126,000
|
| |
|
|
|
| Grand |
4
|
$50,000 |
$200,000
|
| |
1
|
$300,000
|
$300,000
|
|
Total
|
5
|
|
$500,000
|
|
The longer and more you invest, the greater your chances of winning.
Deposit Period
|
Number of extra entries to the Grand raffles for every BD50
|
| 1 to 3 months of the Grand raffle |
1 |
| 3 to 6 months of the Grand raffle |
2 |
| 6 to 9 months of the Grand raffle |
3 |
| Longer than 9 months of the Grand raffle |
4 |
What Fatwas principle is this account based on?
The Fatwa principle for this account can be viewed by
clicking here |
|
