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Wednesday, November 11 - 2009

National Bonds highlights the significance of Islamic 'Sukuks' to European investors

  • United Arab Emirates: Tuesday, November 14 - 2006 at 14:32
  • PRESS RELEASE

Nasser Bin Hassan Al-Shaikh, Vice Chairman and CEO of the National Bonds Corporation (NBC), pioneer of the first Shari'a-compliant national saving scheme in the UAE, participated at the International Islamic Finance Forum Europe (IIFF) that was held in Zurich, Switzerland from November 13 to November 16, 2006.

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  • Nasser Al-Shaikh, Vice Chairman and CEO of National Bonds.
    Nasser Al-Shaikh, Vice Chairman and CEO of National Bonds.
The forum being a leading event in the European continent was specifically designed to address the relevant issues prevalent to the fledgling European Islamic Finance industry, which is reflected in the concerted efforts by European banks to understand, embrace and implement Islamic Finance fundamentals.

Commenting on his participation, Al Shaikh said:

"The demand for shari'a compliant wealth management has witnessed exponential growth in the past few years, and this was reflected when we first launched the National Bonds scheme. National Bonds offered highly liquid bonds that are shari'a compliant, with low denominations and no limitation for purchase, not to mention an annual profit and a lucrative prize structure which investors and the general public could not resist to invest in. It was therefore imperative for us to share our experience in this field with our European parties to enlighten the western world of the advantages of Islamic wealth management and banking."


On the first day of the forum, Al Shaikh addressed the challenges and opportunities for Sukuk (Islamic bonds) stressing on the importance of innovation for the Islamic Finance industry to offer products that address the Muslim communities' needs, among an elite group of Islamic Finance experts from the region. Al Shaikh's presentation captured the interest of the forum attendees, and raised many interesting queries during the Q and A session that followed his presentation.
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Notes and media contacts

For further information, please contact:

Lina Anani / Sami Al Shorafa
ASDA'A Public Relations
Tel: +971-4-3344550, Fax: +971-4-3356080

About National Bonds
National Bonds are available in over 150 outlets across the UAE. Priced at 10AED per bond and available for a minimum purchase of 100 AED, National Bonds offer all participants a safe and reliable saving option while simultaneously providing people with the opportunity to win millions of dirhams in monthly draws.

The scheme which is available to UAE residents and non residents aims to provide people with a unique and innovative Shari'a compliant saving mechanism based on the Islamic principle of Mudaraba. At the end of the financial year, profits made by the National Bonds Corporation will be determined and 20 percent of this amount will be distributed amongst bondholders.

About National Bonds Corporation
National Bonds Corporation (NBC) is a private shareholding company, founded in March 2006 and headquartered in Dubai, United Arab Emirates with local shareholders including "Emaar Properties", "Dubai Holding" and "Dubai bank". National Bonds is Shari'a Compliant product overseen by the Central Bank of the UAE. NBC is subject to the same regulatory procedures as those applicable to other financial institutions in the UAE.

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