ila News

The latest updates, and stories from the ila team

ila Updates
Dec 06, 2022
ila Bank’s first US$1,000,000 Al Kanz grand prize draw rapidly approaches

Manama, Bahrain: ila Bank, the fastest growing digital mobile-only bank in the region, powered by Bank ABC, commences the final countdown for its year-end US$1,000,000 Al Kanz prize draw, for which the last date to deposit is 31st December 2022. The draw is scheduled to take place on 6th February 2023 and special arrangements are underway to celebrate the first Al Kanz millionaire in style.

Commenting on the growing anticipation within the community, ila Bank Head of Business & Customer, Nada Tarada said: “We are delighted to see the excitement for ila’s first million-dollar cash prize building up. The ila team is gearing up to commemorate this historical moment with a special surprise-filled celebration. We are eager to meet the lucky winner and see how this mega win transforms his/her life. “

“Al Kanz has been an incredible success , with over US$500,000 in cash prizes distributed so far. It has met our objective to incentivize positive saving habits and drive financial prosperity within the country. We encourage everyone to take a stab at winning the million-dollar cash prize by depositing into their Al Kanz account before 31st December. You can also share this opportunity with family and loved ones through Al Kanz’s unique gift feature.”

Available by default for ila account holders, Al Kanz was designed to nudge customers to save towards life goals and financial obligations, for chances to win lifechanging monthly cash prizes. This year, prizes included a monthly cash prize of US$50,000, a mid-year cash prize of US$120,000 paid as a US$10,000 yearlong salary and the upcoming US$1,000,000 grand prize.

The prize-linked saving account complement’s ila’s seamless saving solutions, namely ‘Hassala’, an automated saving pot, ‘Jamiyah’ a collaborative saving tool digitising a longstanding regional community saving tradition, ‘Fixed Deposit’ account boasting competitive interest rates and a current account offering interest, with the lowest income threshold in the market.

After radically transforming the consumer banking experience in Bahrain, ila is now focused on scaling its mobile-only offering across its parent bank’s core MENA markets. The recent launch of its banking app in Jordan has been extremely well received, demonstrating a growing demand amongst all societal segments in the region for “banking that reflects you.”