Following the completion of the acquisition of Kuwait Finance House – Bahrain (KFH – Bahrain), Al Salam Bank, announced the amalgamation of the Danat and Libshara schemes to form a combined savings scheme to provide the largest and biggest prizes in Bahrain, effective from 1 July 2024. This step aims to reinforce the Bank’s industry position by offering the largest and highest number of prizes in the Kingdom.
Through this combined scheme, Al Salam Bank is delivering the biggest prizes in the Kingdom, with a total prize pool exceeding BD 4,000,000 and total grand prizes worth over BD 3,000,000. The total number of winners has now risen to 2,221, with an increase in the number of monthly winners to 251.
Under the combined “Danat” and “Libshara” scheme, the “Libshara” prizes will be preserved and integrated with the “Danat” prizes. The number and value of the prizes will be doubled, making this program the most rewarding in the Kingdom of Bahrain. The combined scheme includes 40 monthly prizes for youth, each worth BD 200, as part of the existing “Danat” scheme. Additionally, “Libshara” prizes have been added, increasing the total of the monthly prizes to 200, each worth BD 500, and doubling the value of the monthly grand prize to BD 20,000.
The combined Danat and Libshara scheme will also extend its benefits to 10 Danat Plus account holders with loyalty prizes worth BD 1,000 each. Additionally, a grand prize of a waterfront villa in Diyar Al Muharraq’s Al Naseem project will be up for grabs, with the draw scheduled on 4 August 2024. Clients are required to make their investments by 1 July 2024 to enter the draw and qualify to win.
In addition to the villa grand prize, clients will be presented with other significant grand prizes, including BD 400,000 for one winner with the draw taking place on 4 November 2024– This grand prize was previously included in the Libshara scheme and was transferred and integrated into the new combined scheme –, and the two largest cash prizes in Bahrain worth BD 1,000,000 each with the draws being held on 5 January 2025 and 3 April 2025 respectively.
Existing Danat and KFH-Bahrain’s Libshara account holders will automatically enter the draws of the combined scheme to win valuable prizes, and the client will not be required to take any steps in this stage.
Commenting on the occasion, Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank said: “Since the inception of Danat, our savings scheme has aimed to enrich the lives of our clients by offering life-changing prizes. In line with our unprecedented growth, we deemed it necessary to provide an even better and bigger scheme to our valued clients. We are pleased to announce the combined Danat and Libshara scheme, incorporating both the existing Danat prizes of Al Salam Bank and Libshara prizes of KFH-Bahrain (formerly). Through the combined scheme, we aspire to provide our clients with more opportunities to win more prizes. We are confident that this enhanced scheme will not only cement our industry position as pioneers in delivering rewarding banking experiences but also positively impact the lives of our clients.”
In line with its leading industry position in the Kingdom, Al Salam Bank is committed to offering its clients a diverse range of prizes. Every BD 50 invested Danat, Danat Plus, or Libshara account will give clients the opportunity to win the most incredible prizes in Bahrain as part of the new combined scheme. New clients can join the savings scheme by opening a Danat or Danat Plus account via the Al Salam Bank mobile application.
