A Dubai-based textiles entrepreneur has been named as the winner of the February Dubai Bank Kunooz cash prize.

Shyam Shewaramani, who only opened his Kunooz Savings Account five months ago on the encouragement of his wife, won the Dh1 million ($272,238) prize.

Shewaramani has resided in the UAE since 1992, where he runs a successful family business. He has two sons who run the business overseas, in China and Russia. It was his wife, who keeps a safety deposit box with Dubai Bank, who first heard about the Kunooz Savings Account when she visited her local branch. On learning of Kunooz’s many attractive features, she encouraged her husband to close an account with another bank and open one with Dubai Bank.

A successful businessman, Shewaramani, 55, plans to spend the winnings on his family.

“The savings potential and opportunity to generate optimal returns continues to attract customers from across the UAE to Kunooz,” said Tariq Al Farsi, head of Branches at Dubai Bank.

Under the Kunooz monthly cash prize promotion, each multiple of Dh1,000 deposited in the Kunooz Account qualifies the customer for multiple entries into the draw for daily cash prizes of Dh30,000.-TradeArabia News Service