Save for a brighter future with Al Salam’s Wakala Jawhar scheme

Al Salam Bank-Bahrain, a Shari’a-compliant bank in Bahrain, announced the launch of its new Wakala Jawhar savings scheme, a savings solution dedicated to children’s education. To mark the launch, the bank is running a raffle draw from 1 October to 30 November awarding two customers with one-year contribution savings complimentary; doubling their one-year contributions in a raffle draw.

The Wakala Jawhar savings scheme features two fixed tenors of three and five years, and three fixed monthly contribution levels of BD30, BD80, and BD150. Customers will avail competitive expected profit rates, the bank said, on their monthly contributions as well as Takaful protection benefits for their child’s education and life Takaful.

While the savings solution is ideally suited for education fees, it can be utilized for any purpose, including weddings, housing deposits, or as an emergency fund. Mohammed Buhijji, Head of Retail Banking said: “Despite having the best intentions, many people find it hard to make periodic savings for their long-term requirements, especially their children’s future education. Through Wakala Jawhar, our goal is to help customers realize that taking the smallest action can have a big impact.”

Buhijji added: “By making monthly contributions as low as BD30, you can enjoy competitive profit rates and unmatched Takaful coverage that meets your children future education requirements. Irrespective of the amount, saving a fixed sum on a regular basis is important, and you may be surprised just how quickly your total builds up when you are consistent.”