Dubai-based National Bonds saw its investments increase by 36 percent to 11.89 billion dirhams ($3.2 billion) in 2021.
The savings and investment company, owned by the Investment Corporation of Dubai, also reported a 64 percent jump in sales and 62.4 percent growth in the number of mobile digital savers in 2021.
According to Khalifa Al Daboos, Chairman of National Bonds, the growth is a “direct reflection” of the trend that more people are now shifting to financial instruments that offer lower risks.
“More and more people are going back to the roots of sound and lower risk savings to ensure their financial security,” Al Daboos said.
National Bonds allows customers to invest their money through a shariah-compliant saving scheme. Despite a low interest rate environment in 2021, savers earned returns of up to 3.33 percent on their savings, one of the highest in the region, according to the company.
It also noted that savers who have kept their money in National Bonds since 2006 have earned 64.11 percent in cumulative returns.
(Writing by Cleofe Maceda; editing by Seban Scaria)