Jul 26 2010
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National Bonds breaks AED One Billion sales mark during first half of 2010
Customer base expands to over 590,000 Bondholders, Women account for 1.1B of the total fund
National Bonds Corporation
PJSC, the leading Shari'a compliant savings scheme, has achieved sales of over AED 1 billion in the first half of 2010, taking its total number of customers to more than 590,000, a growth of 5% over last year. This means that around 8.5% of the UAE population is now
The popular savings scheme increased its number of female savers to 145,000, holding AED 1.1 billion in funds. Another segment that achieved growth in 2010 is minors, customers under the age of 16, who now number 94,000 with a total of AED 350 million in funds. UAE nationals increased to 168,000 and hold over AED 1 billion in funds.
More than 83,460 bondholders were rewarded with prizes amounting to over AED 26 million, resulting to 16 new millionaires joining the National Bonds family of winners in the first half of 2010.
Commenting on the successful results, Mr. Mohammed Qasim Al Ali, Chief Executive Officer, National Bonds Corporation PJSC said: "This is a major milestone for National Bonds and one of which we are proud to share with our customers and strategic partners. With such a significant segment of the UAE population already saving with National Bonds , it is testament to the success of our savings scheme that we still continue to achieve growth both in terms of number of savers and fund size. We are now looking to increase our focus on helping more people take control of their finances by promoting financial literacy, inculcating a savings habit, offering secure and rewarding saving plans and providing access for advice to financial protection products."
National Bonds also announced that the variety of nationalities holding National Bonds has increased significantly from 91 nationalities to 191. The increase comes as more expats in the UAE see the benefits of saving with an institution that provides secure savings, attractive weekly rewards, competitive annual profits and quick access to liquidity when needed for emergencies.
National Bonds also achieved growth of 28% in institutional savings, buoyed by the launch of the Employee Saving Scheme late last year. This scheme offers employees the opportunity to save a portion of their salary each month voluntarily & seamlessly with National Bonds through payroll deductions via their employers.
Earlier this year, the company announced for its bondholders an additional benefit for their dependants, to provide all existing and new customers with Shari'a compliant Takaful Coverage up to AED 125,000 - under a joint venture with leading Takaful operator, Dubai Islamic Insurance & Reinsurance Company (AMAN) PSC.
Since its launch in 2006, NBC has achieved consistently positive annual results & attractive profit rates which took NBC's cumulative profit rate generated for the bondholders to 16.64 % over the last three years - among the highest payout in comparison to any other similar savings schemes in the UAE.
It also expanded its distribution network to more than 560 outlets following a strategic alliance with Emirates Post, which enables customers to purchase National Bonds savings certificates from over 100 Emirates Post offices across the country.
National Bonds certificates are available for purchase nationwide including Emirates Post offices, exchange houses and associated banks. For more information, visit www.nationalbonds.ae or call 600 522 279.
National Bonds Corporation
National Bonds , which is licensed and regulated by the UAE Central Bank, is a Sharia compliant saving scheme that provides UAE nationals, UAE residents and non-residents over the age of 16 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 of 3.54 % for 2009, which is higher than the market average of 3.25 % on savings and deposits. NBC's cumulative profit rate of 16.64 % over the last three years is among the highest payout in comparison to any other similar savings schemes in the UAE.
is a unique savings scheme:
Customers will have the opportunity to win 22,250 prizes every month. AED 1 million on the last Saturday of every month and 5,135 prizes on every Saturday 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 and 5,000 prizes of AED 100. Savings with National Bonds can be redeemed easily after an initial 30-day holding period from exchange houses, banks and Emirates Post offices.
All National Bonds customers from the age of 12 month to 70 years are automatically entitled to Individual Takaful 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 560 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 600 522 279
For Media Inquiries Please Contact:
Mashael Al Dakheel
Tel: +971 (0)50 3496739
© Press Release 2010
© Copyright Zawya. All Rights Reserved.
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