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• 52% of Respondents Save for Retirement
• 44% Make Payments towards Loans
Dubai - National Bonds Corporation (National Bonds),the leading sharia-compliant savings and investments company in the UAE, has announced the latest results of its ongoingfinancial health check survey that is open to customers online. Findingsindicate that only 36% of the respondents save for retirement, while 28% saveregularly to buy a home and 24% save for their children's education.
Designed by financial advisers at National Bonds, the financial health check was launched in February 2014 as an online tool to help customers assess their financial status and take corrective action towards achieving a more resilient financial future. To date, the survey has received responses from more than 1,000 customers across cultures and nationalities. On an average, a majority of the respondents (64%) fall within the 26-40 year age group, 26% are from the 41 to 55 age category and 6% from the 18-25 years age group.
In additional findings from the survey, 44% of the respondents said they make monthly payments towards personal loans. Furthermore, 38% of respondents said they pay off debts towards credit cards, while 18% pay out home mortgages.
The results also reveal that 82% of respondents in the 18 - 25 year age group save regularly, while 18% admit to not having a specific savings plan. Although 51% of the 41-55 year age group said they save for retirement,, 45% of the respondents from this age group admitted to making payments towards personal loans, while 43% make monthly payments towards credit cards.
The financial health check results also indicatethat 60% of respondents in the 26-40 year age group keep a regular record of their expenses, while 40% do not. In the same age category, 73% of respondents said they regularly pay for credit card expenses. Thesurvey also foundthat 29% of respondents have a written will ofinheritance.
In yet another interesting outcome, 81% of respondents said they do not have a financial agent or plannerto help them manage their finance and money issues.
Additionally, 78% of respondents admitted to not havingtakaful insurance.
Commenting on the results, Mohammed Qasim Al-Ali, CEO, National Bonds, said: "At National Bonds, it is our key priority to increase financial literacy in the community, and drive a habit of regular savings. Through the financial health check, we are looking to offer our customers an easy and simple method to evaluate their financial performanceand assess their monetary status. We believe that better awareness ofstrengths and weaknesses will inspire customers to adopt a conscious habit of saving for achievingsoundfinancial health."
In a bid to encouragemore customers to monitor their financial health on a regular basisand carefully plan their finances, National Bonds selected five lucky respondents and rewarded them with wellness packages worth AED4,000.
Drawing parallels between the financial health check and the annual medical examination that is taken to ensure one is fit and healthy, Al-Ali noted that National Bonds offers a number of remedies for challenges that threaten the financial health of our customers.
He added: "The latest results of the financial health check are encouraging - it is particularly heartening to note that 82% of the younger 18-25 year age group save regularly. We encourage young people to build a secure financial future that will enable them to retire early with absolute peace of mind.Financial knowledge and awareness of the importance of saving helps establish a stronger society. The check clearly indicatesthat respondents in the senior age category are under greater pressure due to repayment ofloans and credit card expenses.Aconsiderable share of their budget is dedicated to the repayment,reducing their ability to save for retirement."
As part of its continuing awareness campaigns on the importance of regular saving and investment, National Bonds offers programs and savings plans that provide savers with easy and more accessible methods for saving. More recently, National Bonds has introduced the instant saving service Sukuk Express that allows customers to deposit up to AED20,000 daily in their National Bonds accounts through more than 1,000 self-service machines across the length and breadth of the UAE. 
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About National Bonds Corporation PJSC
National Bonds, which is 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 AED 10, with a minimum purchase of AED 100 National Bonds Corporation PJSC announced an annual return up to 4% for 2014. The scheme has distributed an annualized rate of return of 5.6% since inception, which is a combined average of annualized returns and prizes distributed till 2013. National Bonds is a unique savings scheme with a huge and diversified client base with over than 780,000 customers, offering:
• Customers will have the opportunity to win 43,207prizes every month. These prizes include a double number of weekly awards distributed across two categories of citizens and residents. The first week prize is the million dirham awards that allow all bondholders to enroll in regardless of the savings they have. The million dirham award is followed by two gold bars to two women bondholders worth AED50, 000 each in the second week and two BMW cars during the third week. In addition to two tuition fees worth AED25,000 each to two minor bondholders.
The prizes also includes give away cash award every minute of every day. The total number of cast award in a day is 1,440 valued at AED50 each, 600 prizes will be reserved for bondholders in specific sub-categories: 200 for women bondholders, 200 for children bondholders and 200 for bondholders who have a direct debit arrangement with their respective banks.
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 760 outlets across the UAE, including 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
© Press Release 2015
