New AED 1 million MDSA monthly Grand Prize presented by ADCB

Press release

Published March 7th, 2011 - 07:38 GMT

Grand Prize Draw winner for the year 2011

Abu Dhabi Commercial Bank (ADCB) today announced the first Millionaire Destiny Savings Account (MDSA) Grand Prize Draw winner for the year 2011. Mr. Mujahid Ur Rehman Khawaja, from Pakistan and living in Sharjah, was presented with the AED 1 million cash prize at a ceremony held at an ADCB’s branch in Sharjah. The prize was presented by Mufaddal Khumri, Head of Islamic Banking, and Ali Darwish, Head of Branch Network, ADCB.

Commenting on his win, Mr. Mujahid Ur Rehman Khawaja, who opened his MDSA account in November 2009, after being an ADCB customer for about 9 years, said: “I am overjoyed that I’ve become an MDSA Millionaire; it is a fantastic opportunity for me to expand my business and ensure a good savings plan for my family. I would like to thank ADCB for helping me turn my ambition into reality!”

Mufaddal Khumri, Head of Islamic Banking at ADCB, said following the presentation of the cheque: “ADCB is honored to present Mr. Mujahid Ur Rehman Khawaja with a Million Dirhams as the first winner of the new enhanced MDSA product of ADCB, which now gives away AED 1 Million every month instead of every quarter. Mr. Mujahid’s ambitions to expand his business can now be realized all due to his opening an ADCB Meethaq MDSA account. The Millionaire Destiny Savings Account has been very popular amongst ADCB customers as the account provides day to day banking services, whilst also entering them into a significant and regular prize draw at the same time.

We look forward to presenting more cheques to other MDSA winners so they too can accomplish their ambitions.”

Background Information

Abu Dhabi Commercial Bank

ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services.

ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.

ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.