•Low minimum monthly contribution starting at BD25

•Supplementary retirement income for nationals

•9 pre-defined strategies to suit individual goals

•Innovative state-of-the-art online servicing

Bahrain, 15 May 2013 --- TAKAUD, the MENA region's specialist provider of Savings and Pensions, today launched its pioneering 'Individual Savings Plan' which aims to diversify personal savings and widen the investment horizon for long term savers.

TAKAUD is a first for the region and provides customers with global investment expertise utilising world class investment solutions developed specifically for the MENA region. TAKAUD's international investment partners include BlackRock, BNP Paribas, Dexia, Franklin Templeton, PIMCO, and Schroder to name a few.

According to the World Bank, the space for private pension development is expected to expand in the MENA region due to demand from both nationals and expatriates, and the associated sustainability issues of various public pension schemes.  Additionally, the National Bonds GCC Savings Index indicate that 30% of MENA citizens do not save and within the GCC, 64% of GCC citizens save less than a fifth of their monthly income and nearly 9 out of 10 GCC residents believing their savings are not adequate to support their long term needs.

Abdallah Kubursi, CEO of TAKAUD commented: "There is clearly a critical need for MENA-specific long-term savings and pensions solutions. Public pensions will continue to play a significant role in the MENA region, especially in the GCC countries, but for many of the population, there could be funding gaps for meeting  certain financial or retirement goals. For MENA nationals, TAKAUD's solutions could help supplement  public pensions in order to counter the effects of inflation and meet short-falls in their financial planning. Expatriates can also benefit as these solutions could top-up their end-of-service benefits and add to their retirement savings. With our unique solutions, TAKAUD aims to bring about a paradigm shift to the region in terms of how people take control of their financial future and long term needs."

TAKAUD's 'Individual Savings Plan' provides a simple and localized approach to savings and pensions. With a minimum monthly contribution starting at BD25, the product offers an affordable savings solution easily accessible to MENA nationals and resident expats for various financial goals and life stages including retirement, children's education, new home purchases, starting a business or having the resources in place to financially manage any unforeseen emergencies.

The new 'Individual Savings Plan' can be totally customized to suit a person's individual requirements in terms of risk, reward, diversification, age, time horizons and financial goals. TAKAUD has innovative state-of-the-art online customer servicing which provides easy product access and options to manage savings, set multiple savings goals and continuously track investment performance.

Regional market research has clearly revealed that there is a low level of savings in the MENA region, defying the perception that people save a large proportion of their income. It also highlights that there is uncertainty among many individuals about their plans for retirement and widespread concern about whether current standards of living can be preserved in retirement.  Many individuals are expecting to work later in life in order to maintain current standards of living in retirement.

Samer Khanachet, Chairman of TAKAUD and KIPCO's Chief Operating Officer, commented: "Studies have shown that savings rates in MENA are significantly lower in comparison to many emerging markets. These indicators unless addressed will lead to serious issues in financial and retirement planning for both MENA nationals and resident expats. TAKAUD directly addresses these critical issues by offering innovative savings and pension solutions. Our 'Individual Savings Plan' was developed with a ground-up approach to specifically suit the needs of MENA customers. This individual savings market offering will complement our corporate 'Employee Savings Plan' which we recently introduced to the market. TAKAUD is now centre stage within the MENA savings and pensions space and we are committed to providing both nationals and expatriates with best-in-class savings and pensions solutions."

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About Takaud Savings and Pensions B.S.C (c)
Takaud Savings and Pensions B.S.C. (c) is licensed as an Investment Business Firm (Category 1) by the Central Bank of Bahrain (CBB) and is a closed joint stock company incorporated in the Kingdom of Bahrain.

TAKAUD specializes in providing long term savings and pensions solutions to individuals and corporations in the local and expatriate communities across the MENA region.

TAKAUD is 50% owned by Kuwait Projects Company (Holding) K.S.C. (c) (KIPCO) and 50% by United Gulf Bank a member of the KIPCO Group.

The KIPCO Group is one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 25.6 billion as at 31 December, 2012. The Group has significant ownership interests in over 60 companies operating across 26 countries. The group's main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.

Takaud Savings and Pensions B.S.C. (c),
UGB Tower 7th Floor | Diplomatic Area |P.O Box 65167| Manama| Kingdom of Bahrain
Office: (+973) 17511611
Email: info@takaud.com
www.takaud.com

Media Contacts:
Ebrahim K Ebrahim
Takaud Savings and Pensions
Email: ebrahim.ebrahim@takaud.com
Mobile: +97332225685

Shane Dolan
FTI Consulting
Email: shane.dolan@fticonsulting.com
Direct: +971 4 437 2109

© Press Release 2013