Dubai, UAE, 17th December 2012

National Bonds Corporation PJSC, the investment company behind the region's leading Sharia'a compliant savings scheme, has announced a strategic partnership with Dubai Duty Free, one of the leading airport retailers in the world, to offer their staff the opportunity to join the National Bonds' Employee Savings Scheme. 

The voluntary scheme, the first-of-its-kind in the UAE, represents National Bonds' ongoing commitment to encouraging a savings culture and increasing awareness about the importance of planning ahead in order to ensure a secure financial future.

Launched in October 2009, the Employee Savings Scheme offers employees the opportunity to establish  a personalized savings plan by deducting a portion of their salary each month via their payroll department through National Bonds. Available to all existing and new staff that choose to participate, the program does not affect employees' end-of-service benefits and entitles them to all the benefits offered by National Bonds. This includes competitive annual profits, no processing fees, weekly and monthly draws with thousands of prizes, including a Million Dirham grand prize, and Life Takaful insurance for each bondholder.

Commenting on the partnership, Mr. Mohammed Qasim Al Ali, Chief Executive Officer, National Bonds Corporation said: "The National Bonds Employee Savings Scheme enables companies to increase staff loyalty and employee retention by providing staff with added benefits. This scheme can also act as an alternative "Retirement Plan" for both nationals and expats. We are pleased to welcome Dubai Duty Free to this scheme, and we commend them for demonstrating such a commitment towards the welfare of their employees."

He added, "It is our hope that more and more organizations within the UAE will recognize the unique value of such a scheme. We are confident that the provision of a rewarding, Sharia-compliant, highly-liquid and no-fee savings program will incentivize employees to take the path towards a brighter financial future for themselves and their families."

Commenting on the scheme, Mr. Colm McLoughlin, Executive Vice Chairman of Dubai Duty Free said: "We are very pleased to join forces with National Bonds and introduce this voluntary saving scheme to our 5,000 employees. The welfare of our staff is central to us as an organization and we believe it is very important that all of them know the benefits of saving and how the National Bonds' Employee Saving Scheme can give them and their families added security for their future."

Over the past 29 years Dubai Duty Free has become one of the leading airport retailers in the world. It joins a host of high-profile organizations in the UAE that have adopted the National Bonds Employee Savings Scheme, including Dubai Health Authority, Dubai Export Development Corporation, Dubai Airports and Financial Markets, amongst others.

National Bonds certificates are available for purchase in over 670 outlets nationwide including, the National Bonds website, Emirates Post offices, exchange houses and banks. For more information, visit www.nationalbonds.ae  or call 600 522 279.

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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 profit up to 2 % for 2011. NBC's cumulative profit rate of 30.33 % 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 670 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

About Dubai Duty Free
Dubai Duty Free opened for business on December 20th 1983 and over the past 29 years has grown to become one of the largest airport retailer in the world with a turnover of Dhs5.31 billion (US$1.46 billion) in 2011.  The operation continues to witness positive sales growth in 2012 placing the operation on track for year-end sales of an estimated US$1.6 billion.

Its founding principal of providing travellers with a first class retail experience in a shopper-friendly environment and a diverse range of products still holds true to this day.

Employing around 5,000 people, Dubai Duty Free currently operates some 18,000 square metres of retail space at Dubai International, which will increase by a further 8,000 square metres in the first quarter of 2013 with the opening of Concourse A. 

To-date, the operation has received some 250 awards which bear testimony to the operation's retail success including the 2012 Frontier Awards for 'Best Airport Retailer of the Year'; the 'Best Airport in Duty Free Shopping' presented at the Business Traveller Middle East Awards, the Global Traveller US magazine Award for 'Best Duty Free Shop' and the 'Retail Company of the Year' presented by the Arabian Business Achievement Awards.

In April, Colm McLoughlin was presented with the 'DFNI 25th Anniversary Lifetime Achievement in Duty Free Award' for his outstanding contribution to the travel retail industry over the years.

On 11th July, Dubai Duty Free's first foray into border shop retailing was firmly underscored with the official inauguration of its Hatta Border shop located next to the Customs and Immigration offices at the Hatta-Oman border. In addition, the Dubai Duty Free-owned Jumeirah Creekside Hotel welcomed its first guests on 1st July.  The 292 room five-star property is managed by the Jumeirah Group and is located on the grounds of the Aviation Club in Garhoud.

On 20th December, Dubai Duty Free will celebrate its 29th anniversary which is sure to signal another sales milestone for the airport retailer when it extends a 25% discount to travelers on that day throughout the 24-hour period.

© Press Release 2012