Mashreq launches Weekly MashreqMillionaire draw in 2009

In global recessionary times, when most consumers are cutting back on spending, MashreqMillionaire would like to announce that customers will now have four opportunities in a month to become millionaires.

The challenging economic environment has made consumers reassess investment strategies and question a host of decisions that are usually taken for granted. While more anxiety is being felt globally in these turbulent times, Mashreq announces a refreshingly simple, yet bold re-design of its iconic MashreqMillionaire product.

"We want to provide customers more support and opportunity to the community at this challenging time" announced Mashreq's Head of Retail Bank, Douglas Beckett, as he unveiled the launch of weekly MashreqMillionaire draws.

Mashreq has a legacy of innovative offerings that have inspired product development in the region. It is interesting to note that MashreqMillionaire has distributed over Dhs280m in its lifespan of 14 years. It has created over 170 millionaires in this period across all nationalities and walks of life. Now it will create weekly millionaires for the rest of the year.

Apart from the change in the draw frequency, MashreqMillionaire has also been simplified as a product. With a new features of 'invest today, win tomorrow', investors do not have to invest by a certain date and wait for 60 days to qualify for the usual monthly draw. Going forward, all investors will qualify for the next weekly draw as long as they hold a valid certificate on the day before the draw. "As part of our promise to be the most convenient bank in the UAE, we continue to simplify our procedures and provide value products to all our customers," added Beckett.

Omar Asghar, Head of Wealth Management at Mashreq, added: "We are very pleased to launch the new, rejuvenated MashreqMillionaire proposition which we are confident will attract investor attention and will reach out to all segments in our community as a risk-free, capital guaranteed investment opportunity with the potential of a very lucrative upside."

MashreqMillionaire draws will continue to be supervised by the Dubai Economic Department to ensure fair and transparent practices.

"Like the UAE, our customers have aspirational goals for success and Mashreq would like to participate in some way to be able to facilitate this ambition,"

added Asghar.

MashreqMillionaire certificates are available at all Mashreq branches, UAE Exchange and Al Ghurair Exchange outlets.