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National Bonds' Employee Savings Program Registers High Uptake
Dubai, UAE – National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, today announced that Dubai Police has topped a list of 100 entities in the UAE for signing up the highest number of employees to National Bonds’ Employee Savings Program.
More than 1,000 savers are now enrolled in the Tharwaty program that National Bonds designed specifically for Dubai Police personnel. Launched following a Memorandum of Understanding (MoU) that Dubai Police ratified with National Bonds in October 2016, Tharwaty aims to instil a culture of saving among Dubai Police employees.
Since signing the MoU in October 2016, National Bonds has organized several workshops and distributed information brochures to raise awareness of the importance of regular saving among Dubai Police teams. In addition, the company set up kiosks at 17 Dubai Police locations to promote the benefits of Tharwaty.
Apart from significant returns on savings each year, each program participant earns five entries into the draw to win up to AED480,260 as well as additional monthly draws exclusive to Dubai Police personnel. Furthermore, savers are also eligible to win a quarterly grand prize of AED1 million.
Witnessing a 279 percent growth in participation rates in 2016, National Bonds’ Employee Savings Program is one of the most popular savings schemes among private and public entities in the UAE. To date, a total of 100 institutions and companies from all sectors have signed up, with 7,383 employees benefiting from annual returns of up to 2.82 percent on the regular savings portfolio.
Speaking on the success of Dubai Police in motivating its employees to commit to regular saving, Mohammed Qasim Al Ali, CEO of National Bonds, said: “Dubai Police’s keenness in providing its employees with the tools of well-being and happiness through our Employee Savings Program reflects its conviction that financial stability is the shortest road to achieving this life goal. Financial planning mandates steady steps and commitment to a long-term savings plan that drives the achievement of employees’ dreams for a safe and sustainable future. We are proud that through contributing to the quality of life of both government and private sectors in the UAE, our savings program articulates the overall mission of National Bonds to provide UAE nationals and expats with the means to attain prosperity and well-being.”
He added: “We are confident that sharia-compliant savings products will enjoy greater popularity in the coming years. Companies and individuals alike are increasingly opting for responsible investments that contribute to the GDP and align with the efforts of our wise leadership to build a harmonious society whose social segments care about sustainable development.”
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About National Bonds Corporation PJSC
National Bonds, licensed and regulated by the UAE Central Bank, is a Sharia'a compliant saving scheme that provides UAE nationals, UAE residents and non-residents with a credible and safe savings opportunity. Minors can also own National Bonds, provided the bonds are purchased by the parent/guardian. Each bond costs AED10, with a minimum purchase option of AED100. National Bonds Corporation PJSC announced an annual return up to 4% for 2015. The scheme has distributed an annualized rate of return of 51.2% since inception, which is a combined average of annual returns and prizes distributed till 2015. National Bonds is a unique savings scheme with a diversified client base of more than 800,000 customers, offering:
· Opportunity to win more than 40,000 prizes every month. These prizes include monthly and quarterly awards distributed to UAE nationals and residents in separate categories. The quarterly prize offers two participants the chance to win a million dirham award every first Sunday of the quarter. The monthly awards give two bondholders the chance to win two BMW cars, AED10,000 to two women bondholders, and AED 10,000 to two minor bondholders. In addition, regular savers have the chance to win 15 awards worth AED10,000 every month. The monthly prizes also include give away cash awards valued at AED50 each. The awards are allocated to 4,000 women bondholders, 4,000 minor bondholders, 8,000 regular savers, and 24,000 awards for all individual bondholders.
· Savings with National Bonds can be redeemed easily after an initial 30-day holding period by calling 600522279 or for instant cash redemptions up to AED10,000 per day through visiting selective branches of Al Ansari Exchange and UAE Exchange houses across the UAE.
· National Bonds does not charge any subscription fee for the purchase of bonds. One can open an account for free and redeem bonds at any time without paying a penalty.
· The National Bonds Employee Saving Program offers government and private sector employees an opportunity to save a portion of their salary on a monthly basis and also be entitled to all benefits and rewards offered by National Bonds.
· National Bonds can be purchased from nearly 1,700 outlets across the UAE, including The Sukuk Express through MBME - The Cube machines, Emirates Post offices, exchange houses and banks.
· National Bonds can also be purchased online at www.nationalbonds.ae
For more information please call:
Ghada El Khoury
APCO Worldwide
Tel: +971 4 375 5247
Mob: +971 55 804 5317
gelkhoury@apcoworldwide.com
Mahmoud Kandil
APCO Worldwide
Mob: +971 55 302 7386
mkandil@apcoworldwide.com
© Press Release 2017
