Emirates Islamic Bank rewards saver with Tesla car

First of five cars has just been awarded; four more vehicles, Dh1 million cash to go

A representative of Emirates Islamic Bank turns over the new Tesla car to Ahmad Hamad Al Suwaidi.

Dubai:  A saver in the UAE now gets to drive around a new Tesla car, which he won in a raffle after opening a savings account with a local bank.

Ahmad Hamad Al Suwaidi, a UAE national, is the first saver to win the five Tesla cars that Emirates Islamic Bank (EIB) is giving away to customers. The car is estimated to cost between $90,700 and $110,700 (Dh333,000-Dh406,000).

EIB has a promotion that promises UAE residents a chance to own a new electric car or bag D1 million in cash, provided they maintain at least Dh5,000 in the bank’s Kunooz savings account.

There are also cash prizes worth Dh3,000 being given away daily, and each customer gets one entry into the draw with every Dh1,000 average balance.

The campaign seeks to encourage residents to save money and maintain a healthy financial lifestyle.

“We believe that rewarding our customers for effective saving habits can have a definite and significant impact on their future,” said Wasim Saifi, deputy CEO for consumer banking and wealth management at Emirates Islamic.

The campaign started last February 1 and will end on April 30.

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