Terms & Conditions

• To be eligible to enter the draw, a minimum account balance of KD 200 (Two hundred Kuwaiti dinars) is required, and for every KD 10 (Ten Kuwaiti Dinars) deposited in the account shall provide the customer 1 draw entry with a maximum of 100,000 (one hundred thousand chances) per account. Coupon chances are calculated based on the average months balance maintained in the preceding month for the weekly, monthly and quarterly draws. As for the semiannual and annual draws, entries are based on the accumulative average months balance within the year of the draw schedule.
  
  
• A minimum balance charge of KD 2 shall be deducted if balance falls below KD 200/- during the month.
  
  
• Winners that won in the quarterly, semiannual and/or annual draws will be excluded from any upcoming mega draws.
  
  
• Winners that won in the weekly and monthly draws will be excluded from the upcoming draws for 90 calendar (ninety days) from the date of draw.
  
  
• Winners that won with a total cumulative prize of KD 50,000 at any time will be excluded from the upcoming draws for 12 months.
  
  
• “Alfouz” Draw account is a non-interest-bearing savings account that is available in Kuwaiti Dinars currency only, where no cheque book or salary is permitted in this account. The draw account holds four types of draws: weekly, monthly, quarterly, semiannual and annually.
  
  
• Alfouz account is opened to individual customers (for minors by a parent or the guardian) and must have a minimum deposit of KD 200 (Two hundred Kuwaiti Dinars) as required by the Bank. Deposit and withdrawal transactions are permitted through the approved banking channels and debit cards.
  
  
• Alfouz closed accounts, and seized accounts from a decision by the competent authorities are excluded from the prize draw. As well as ABK employees and first/second degree relatives (spouse - husband or wife, parents, siblings and children), are not eligible to enter the draw inclusive of company accounts. If a staff or relative of the mentioned above wins in the draw, they shall be obliged to return the draw prize whereby the prize will be given to the subsequent standby winner of the draw.
  
  

• Draw & Prize Scheme:

All draws are set to take place in accordance with the banks set schedule.

• In the event that the customer wins the designated prize and their name is announced in the prize draw, the winner must hold a valid residency permit in the State of Kuwait at the time of the draw, or the prize will not be distributed. If the winner’s residency in the State of Kuwait has expired before the draw is conducted, or if the winner passes away, the Bank reserves the right to pay the prize amount as a single lump sum for the remaining period designated for the draw, to the heir (s) whose legal inheritance documents have been completed. The Bank also reserves the right to continue paying the remaining prize amount to the eligible heir (s), as the Banks deems appropriate, in accordance with its internal procedures.
  
  
• The Bank reserves the right to amend these terms and conditions at any time. Once the Bank announces the amendment through its various communication channels with customers or by any other means it deems appropriate, the amendment shall become effective and binding on the customer after a period of 30 days from the date of its announcement.
  
  
• The Bank reserves the right to close the account at any time.
  
  
• The Bank reserves the right to publish/release the names and photographs of the winners in any media channel and for marketing & advertising its products and services.
  
  
• All draws are conducted under the supervision of a representative from the Ministry of Commerce & Industry.
  
  
• The Arabic version of these Terms & Conditions is to be considered as the official reference in the event of any discrepancies between the Arabic and the English.
  
  

I acknowledge that I have received a copy of the terms and conditions governing the account, have reviewed them, and understood their contents. Accordingly, I confirm my commitment to what is stated in them.