Al Ali succeeds Nasser Bin Hassan Al-Shaikh who in the role of Vice Chairman will oversee the management of NBC's growing portfolio of enterprises including National Properties and Madaares PJSC, as well as launching new innovative initiatives. Al Ali moves from being Deputy CEO, a position he has held since May 2007.
Nasser Al-Shaikh commented that after nearly two years of highly successful operations National Bonds Corporation is now moving to another level requiring focused stewardship by a dedicated CEO:
"Our success is well-documented: we now have 325,000 bondholders, our sales have been Dhs1.7bn and our recently announced annual profit rate of 6.03% is higher than any other comparable savings product in the market. In addition, during this time we have distributed monthly prizes totaling Dhs85m. And all of this comes with the benefits of being Shari'a compliant.
"During this short period we have also launched Skycourts, a medium income targeted freehold residential development, National Properties, a full-service real estate company and Madaares PJSC, an initiative aimed at creating a new standard in education.
"We have achieved much and the appointment of Mohamed Qasim Al Ali with his enthusiasm, passion and managerial expertise will drive National Bonds Corporation into the future and help us achieve our ambitious dreams."
As new CEO Mohamed Qasim Al Ali said he is honoured to have the opportunity to lead the company into the next chapter of what has already been a successful journey:
"We have an established vision to become this nation's favorite place to save, to be a household name known for innovation. We have come a long way and as a team we are looking forward to an enthralling way ahead," he said.
Al Ali has developed an exemplary managerial career in the UAE and overseas. A graduate from the Florida Institute of Technology in the United States, Al Ali started his career with Emirates Airlines in 1989 as an Overseas Area Manager, and in 1995 was named as Emirates General Manager for UK and Ireland. He later moved to Dnata, the sister company of Emirates, as Vice President Customer Service and Operations.
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National Bonds Corporation announces Mohamed Qasim Al Ali as CEO
- United Arab Emirates: Wednesday, January 30 - 2008 at 10:01
National Bonds Corporation (NBC), the Shari'a compliant national saving scheme of the UAE, has announced Mohamed Qasim Al Ali as new Chief Executive Officer (CEO), a move that will strengthen the ability of the corporation to achieve its vision for its saving scheme to become everyone's favourite place to save.
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For further information, please contact:Nizar Saab/ Sara Hamam
ASDA'A Public Relations
Tel: +971-4-3344550,
Fax: +971-4-3344556
About National Bonds Corporation
A private shareholding company, National Bonds Corporation is a Dubai-based entity that was launched in March 2006. The government of Dubai holds a 50% ownership in the company with each of its local shareholders comprising Dubai Bank, Dubai Holding and Emaar Properties holding 16.6% ownership respectively. National Bonds Corporation is Shari'a compliant, with a dedicated Shari'a Board to oversee all financial aspects including product-related operations and investments.
Since its launch in 2006, National Bonds has come up with various successful initiatives in community development. In December 2006, it launched "Skycourts", the elegant and affordable freehold residential community in the heart of Dubailand Residence Complex and earlier this year, National Bonds launched 'National Properties', a wholly owned, full-service real estate subsidiary that offers distinctive homes and lifestyle options to the multinational UAE community. They also launched 'Madaares PJSC', an initiative aimed at raising quality standards in the region's education sector. Madaares has acquired Taaleem and its associate Beacon Education, a leading provider of high-end primary and secondary education in the Gulf region consolidate its position in the fast-growing education sector
About National Bonds
National Bonds is the National Saving Scheme of the UAE that provides UAE nationals, UAE residents and non-residents over the age of 16 with a credible, safe and Shari'a-compliant 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; bonds are available in over 200 outlets across the UAE.
National Bonds offers all participants the opportunity to win up to one million dirhams in monthly draws. The programme is based on the Islamic principle of Mudaraba, whereby at the end of the financial year 20 per cent of the profits made by the National Bonds Corporation (NBC) will be distributed among bondholders.
Lara Lynn Golden, News EditorWednesday, January 30 - 2008 at 10:01 UAE local time (GMT+4)
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