National Bonds experiences 12% year-on-year growth in number of customers below the age of 18

Asians account for 23% of all minors saving with the scheme

Dubai, UAE April 9th 2012: National Bonds has revealed a growing trend of savings among the UAE's youth demographic, with the leading Sharia compliant saving scheme experiencing 12% year-on-year growth in its number of customers below the age of 18, and a 25% increase in the amounts of funds being saved by these customers.

National Bonds now has over 100,000 customers under the age of 18, which represents 16% of its diverse customer base, from 120 nationalities. The latest figures from National Bonds, which cover the period from February 2011 to February 2012, underline the scheme's growing success in its mission to cultivate a savings culture in the region and instill responsible and intelligent savings habits in the next generation of UAE citizens.

Mr. Mohammed Qasim Al Ali, CEO of National Bonds Corporation PJSC,: "National Bonds has taken a leading role in the mission to encourage savings amongst the youth as they are the foundation of our country's future, and we are seeing this increased awareness reflected in our customer base. Not only are the numbers of minors increasing, but the amounts they are saving are going up as well. This means that we are on the right track to helping raise a generation of citizens that will contribute to the financial stability of our economy by securing their own financial future."

Commenting on National Bonds' role in the increase, Al-Ali said: "In a culture where encouraging savings is still in its early stages, we have provided a product that attracts young people by making savings an exciting and rewarding process. We have also actively visited local schools and distributed saving boxes to students and educated them on the importance and benefits of adopting healthy financial habits from an early age. We have a lot more coming up to further this commitment in the coming year, which we will reveal very soon."

National Bonds also pointed to the growing number of Asian minors saving with the scheme as an indicator of the increasing popularity of savings among the UAE's Asian expats. Asian minors make up 23% of the total minors saving with National Bonds, with Indians and Pakistanis the biggest of savers (20% of all minors). The increase has been attributed to the attractive returns offered by the scheme through the prizes being won by these savers and the annual profits being distributed that are continuously above the market average for similar savings schemes in the region -  further proof of the long term rewards of savings.

M.S. Al Mansouri, an 11 year-old female Emirati National, was the lucky winner of the January million-dirham prize draw, and joins the list of millionaire minors who have won 13% of the total AED 1 million monthly prizes since National Bonds' inception.

Al Mansouri's father, himself a National Bonds customer, said: "Every member of our family is a National Bonds account holder. I have been encouraging all my children to save since the scheme's inception in 2006, now each one of them takes a small amount of their allowance whenever they can and saves it with National Bonds. With parents constantly reminding them about the importance of savings to secure their future, we are proud that they have now all acquired the habit of savings regularly." 

By the end of February 2012, National Bonds' total customer base had crossed the 660,000 customer mark, with almost 7,000 new customers joining since the beginning of the year. To date, it has changed the lives of hundreds of thousands of all groups of bondholders through its loyalty program of prizes and rewards with over one million prizes distributed worth over 310 million Dirhams.

Although the minimum age for purchase of National Bonds is 18, parents or guardians can purchase bonds on behalf of their children. National Bonds certificates are available for purchase in over 620 outlets nationwide including, National Bonds website, Emirates Post offices, exchange houses and banks. For more information, visit www.nationalbonds.ae  or call 600 522 279.

-Ends-

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 profit up to 2 % for 2011. NBC's cumulative profit rate of 30.68 % over the last six years is among the highest payout in comparison to any other similar savings schemes in the UAE.

National Bonds is a unique savings scheme with a huge and diversified client base with over than 650,000 customers, offering:

  • Customers will have the opportunity to win 41,750 prizes every month. AED 1 million on the first Sunday of every month and 9,635 prizes on every Sunday in different  prize categories - 5 prizes of AED10,000, 10 prizes of AED 5,000, 20 prizes of AED 1,000, 100 prizes of AED 500, 500 prizes of AED 100 and 9,000 prizes of AED 50.  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 AED 10,000 per day through visiting selective branches of Al Ansari exchange house across the UAE.

  • All National Bonds customers holding AED 5,000 or more and are of the  age of 12 month to 70 years are automatically entitled to Takaful Life coverage up to a maximum value of AED 125,000 at no extra charge

  • National Bonds does not charge any transaction fee from its customers. One can open an account for free and also close the account at any time without paying a penalty

  • The National Bonds Employee Saving Scheme 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 620 outlets across the UAE, including Emirates Post offices, exchange houses and banks.

  • National Bonds can also be purchased online at www.nationalbonds.ae or call 600 522 27

For more information, please contact:
Rawan El - Saleh
DABO & CO
nbcteam@daboandco.com
04 - 3444901

© Press Release 2012