{"id":6027,"date":"2022-01-03T00:00:00","date_gmt":"2022-01-02T21:00:00","guid":{"rendered":"https:\/\/alsalambank.com\/al-salam-bank-launches-the-fils-challenge-for-clients\/"},"modified":"2022-01-03T00:00:00","modified_gmt":"2022-01-02T21:00:00","slug":"al-salam-bank-launches-the-fils-challenge-for-clients","status":"publish","type":"post","link":"https:\/\/www.alsalambank.com\/en\/al-salam-bank-launches-the-fils-challenge-for-clients\/","title":{"rendered":"Al Salam Bank Launches the \u201cFils Challenge\u201d For Clients"},"content":{"rendered":"<ul>\n<li>Bank offers a new experience to clients and encourages saving<\/li>\n<li>Challenge entails the deduction of a pre-determined incremental daily amount of 1, 10, 100 fils or&nbsp; any amount specified by the client from their main account for one year&nbsp;<\/li>\n<li>Amounts deducted from the main account will be reserved until the end of the challenge, or until the client decides to pause or withdraw<\/li>\n<\/ul>\n<p> Al Salam Bank recently introduced the \u201cFils Challenge\u201d, a new feature on its mobile application, providing clients with a new and unique saving experience.&nbsp;<\/p>\n<p>The &#8220;Fils Challenge\u201d provides clients with the opportunity to sign up for a free saving scheme that will deduct a pre-determined incremental amount of 1, 10, 100 fils or an amount of their choice from their main account on a daily basis for a full year. Once the client sets an amount, the system will trigger a schedule that will run for one year (365 days), deducting the incremental amount on daily basis. Clients will be able to save and achieve their financial goals. They will also have the option to withdraw from the challenge at any time and the total amount that has already been debited will be credited back to the main account with no additional charges.<\/p>\n<p>Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, said, \u201cWe are delighted to launch the \u201cFils Challenge\u201d for our valued clients, encouraging them to save by deducting a pre-determined small incremental amount of their choice on a daily basis for one year and then get back the amount saved at the end of the challenge. Through this unique feature, clients will be able to deposit these saved amounts into any of their own savings account such as Al Salam Life Planning account, Danat Savings Scheme, Wakala, or even withdraw the amount to use as they see fit towards meeting their goals,\u201d<\/p>\n<p>\u201cIf the client opts for the \u201c1 fils challenge\u201d, the system will debit the client\u2019s account for 1 fils in day 1, 2 fils for day 2, 3 fils for day 3 and so on. Those incremental daily debits will continue increasing until day 365, reaching a total of BHD 66.795 after a full year cycle. The same applies to any pre selected amount by the client. Through this feature, we seek to enhance the customer\u2019s concept of saving smaller amounts with the aim of creating a culture that allows them to make sound financial decisions.\u201d<\/p>\n<p>Clients taking part in the challenge also have the option to pause the challenge at any time, effectively putting a stop to all debiting incurred with no penalties or added charges. Should a client decide to resume the challenge, the deduction will resume from the day of pause. Since the schedule will run for a full cycle (1 year), failed debits due to insufficient balances will be considered as &#8220;skipped&#8221; days and will affect the final outcome of the challenge with no penalties or added charges.<\/p>\n<p>It is worth noting that all amounts deducted from the client\u2019s main account will be saved until the end of the challenge, or until client\u2019s decision to stop or withdraw at any time, as the total amount deducted will be returned to the main account immediately with no added charges.<\/p>\n<div>\n   \n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Al Salam Bank recently introduced the \u201cFils Challenge\u201d, a new feature on its mobile application, providing clients with a new and unique saving experience.<\/p>\n","protected":false},"author":1,"featured_media":5202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/posts\/6027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/comments?post=6027"}],"version-history":[{"count":0,"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/posts\/6027\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/media\/5202"}],"wp:attachment":[{"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/media?parent=6027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/categories?post=6027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alsalambank.com\/en\/wp-json\/wp\/v2\/tags?post=6027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}