Jul 05 2007
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National Bonds joins Dubai Quality Group
Membership will provide the saving scheme with networking and knowledge sharing opportunities
Dubai, July 5, 2007: National Bonds Corporation has become the newest member of Dubai Quality Group , an organization that functions with the objective of improving quality and service among its member organizations.
The membership comes in line with the continued commitment of National Bonds Corporation to quality, continues improvement and adopting the best business practices.
Commenting on the membership, Mohammad Qasim Al Ali, Deputy CEO of National Bonds said: "Our commitment to our stakeholders requires that we undertake measures that enhance the quality of our services. Dubai Quality Group , an initiative from the Government of Dubai, embodies the vision and resolve of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai to enhance standards among local businesses so that they can compete on an international scale.
While serving as a catalyst for excellence in performance the Dubai Quality Group membership will also provide National Bonds Corporation with opportunities to network and share ideas with industry leaders.
Since its launch in 2006, National Bonds has come up with various successful initiatives in community development. Earlier this year, National Bonds launched 'National Properties', a wholly owned, full-service real estate subsidiary that offers distinctive homes and lifestyle options to the multinational UAE community. They also launched ' Madaares PJSC', an initiative aimed at raising quality standards in the region's education sector. Similar initiatives in healthcare are also under study.
About National Bonds
National Bonds is the National Saving Scheme of the UAE that provides UAE nationals, UAE residents and non-residents over the age of 16 with a credible, safe and Shari'a-compliant 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; bonds are available in over 150 outlets across the UAE. National Bonds offers all participants the opportunity to win up to one million Dirhams in monthly draws. The programme is based on the Islamic principle of Mudaraba, whereby at the end of the financial year 20 per cent of the profits made by the National Bonds Corporation (NBC) will be distributed among bondholders.
National Bonds Corporation
A private shareholding company, National Bonds Corporation is a Dubai-based entity 50 % of which is owned by the Government of Dubai. Other local shareholders include Dubai Bank, Dubai Holding and Emaar Properties. Overseen by the UAE Central Bank, National Bonds Corporation is subject to the same regulatory procedures as those applicable to other financial institutions in the country. Licensed to operate throughout the UAE, National Bonds Corporation is Shari'a compliant, with a dedicated Shari'a Board to oversee all financial aspects including product-related operations and investments. The Shari'a Board is chaired by Dr. Hussain Hamid Hassan, a leading Shari'a scholar who is currently presiding over the Fatwa and Shari'a Supervision Boards of most Islamic financial institutions in the United Arab Emirates, and many abroad.
About Dubai Quality Group
The Dubai Quality Group was set up as a business organization by the Department of Economic Development under the patronage of H.H. Shaikh Ahmed Bin Saeed Al Maktoum. The Group offers many programmes throughout the year with the objective of improving Quality and Service among its member organizations.
For further information, please contact:
Lina Anani/ Nizar Saab
ASDA'A Public Relations
E-Mail: firstname.lastname@example.org / email@example.com
© Press Release 2007
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