Encouraging and rewarding smart-saving habits amongst UAE residents through an innovative banking solution with a unique incentive
Abu Dhabi, UAE: Abu Dhabi Commercial Bank (ADCB) announced today the lucky winner of its US$1 million grand prize through its “Million Dollar Dreams I” (MDD I) fixed deposit account. The grand prize winner,Abubukur O E Elamin, Sudanese national from Al Ain, who opened his MDD1 account in February 2017, was selected as the lucky winner under the supervision of the Department of Economic Development at the ADCB headquarters in Abu Dhabi.
Elamin said: “I was absolutely delighted to be notified with such inconceivable news. It is a total dream come true and I’m still trying to gather myself to live it. This is a blessing indeed and I would like to express my sincerest gratitude to ADCB for giving me this opportunity to build a better future for my family.”
On the occasion of the awarding ceremony, Abdul Shakeel, Head of Retail Banking at ADCB said: “It is a great pleasure to witness the success of this product and to announce our lucky grand prize winner for MDD I. Throughout the year and since the launch of MDD I, we have striven to instill the principles of responsible banking and spread a savings culture across the country to our customers as a means to achieve their personal goals.”
MDD I has been a key campaign for ADCB over the past year that provided individual customers with a range of benefits for opening a non-renewable, 1-year fixed deposit account. Launched on June 1, 2016, MDD I provided a guaranteed interest of 0.25% p.a. on the deposit amount, which is credited to customer’s account on maturity. The campaign was aimed at individual ADCB customers, who made a minimum deposit of AED 50,000 or US$15,000, which provided them with one chance to win the US$1 million grand prize. This fixed deposit is unique in the market as it was limited to a pool of 5,000 customers, who could win USD 1 Million Dollars via the draw. An additional chance to win was given for every extra deposit under the multiple of AED 50,000 or US$15,000.
Mr. Shakeel added: “Our ambitions lie at the heart of our clients’ satisfaction and living up to our promise of providing banking solutions such as MDD I that offer the opportunity to fulfil their future ambitions. On behalf of ADCB, we would like to congratulate Mr. Abubukur O E Elamin on winning 1 Million Dollars.”
ADCB was formed in 1985 and as at 31 March 2017 employed over 4,500 people from 75 nationalities, serving retail customers and corporate clients in 48 branches, 3 pay offices and 2 branches in India, 1 branch in Jersey and representative offices in London and Singapore. As at 31 March 2017, ADCB’s total assets were AED 264 billion.
ADCB is a full-service commercial bank which offers a wide range of products and services, which include retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives and Islamic products, project finance and property management services.
ADCB is owned 62.52% by the Government of Abu Dhabi (Abu Dhabi Investment Council). Its shares are traded on the Abu Dhabi Securities Exchange. As at 31 March 2017, ADCB’s market capitalisation was AED 35 billion.