More businesses in UAE are joining in on the trend of enticing customers with millions of dirhams in cash rewards to boost profits and liquidity.
The latest to jump on the millionaire lottery bandwagon, Emirates NBD announced on Sunday that it is giving away Dh10 million worth of cash to savers, including small-and-medium enterprises (SMEs) in the UAE.

It is the first time the bank has launched the promotional campaign, which runs until January 31, 2019 and there will be winners who will get to bag Dh2.5 million each. Other savers are also promised to get cash rewards worth Dh100,000 each.
Lottery draws have changed the lives of several UAE residents. Emirates Islamic had earlier unveiled a similar campaign, and so far this year, at least one customer woke up Dh1 million richer, while six other customers managed to drive home a Tesla car.
In Al Ansari Exchange’s “send money and win” campaign, a Filipina housemaid who has been in the UAE for ten years was declared a millionaire.

According to Emirates NBD, their campaign is meant to further promote the habit of saving. Official statistics indicate a decline in the amount of bank deposits made by UAE residents. As of the latest report, deposits from residents saw a monthly fall in May, although gross non-resident deposits went up by 0.5 per cent.
“Our campaign incentivises savings, as part of the bank’s commitment to educating customers on financial responsibility,” noted Suvo Sarkar, senior executive vice president and group head for retail banking and wealth management at Emirates NBD.