The impressive beginning is an increase of 115% over the Jan 2007 sales figures and comes close on the heels of National Bonds declaring its first financial results of a pro rata yearly profit disbursement of 6.03% on each bond for the year ending December 31, 2007.
During the month of Jan 2008 14 million National Bonds were issued. A major share of these new enrollments came from businesses, underlining the corporate sector's growing preference for the scheme as a highly liquid and performing investment alternative.
Commenting on the record sales, Mohammad Qasim Al Ali, CEO of National Bonds Corporation said that the higher than average profit has helped further cement customer confidence in the savings scheme.
"As a savings scheme National Bonds has certain unique attractions - it is Shari'a compliant, both affordable and accessible to all income groups, available through a variety of distribution channels, offers higher than average annual returns and gives an opportunity to win prizes in monthly draws.
"Now our profit distribution is an added attraction and proof of the success of our investment initiatives in diverse sectors. We are confident that the sales figures will now be on a course of compounded growth," he added.
National Bonds offers holders the benefits of indicative annual returns on investment of their capital in Mudaraba, along with the opportunity to win 26,318 prizes given at the sole discretion of the Mudareb and from its funds. A total of five million dirham is given in prizes every month, including a grand prize of one million dirhams. The bonds can be purchased from various banks and exchange houses, including Dubai Islamic Bank, Emirates Islamic Bank, Sharjah Islamic Bank, Lari Exchange, Al Ansari Exchange, Al Ghurair Exchange, Al Fardan Exchange, Al Rostamani International Exchange Company and online.
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National Bonds kicks off 2008 with Dhs140m sales
- United Arab Emirates: Wednesday, February 06 - 2008 at 13:24
- PRESS RELEASE
The year 2008 has started on a high note for National Bonds, the Shari'a compliant national savings scheme of the UAE, with record sales for the month of January at Dhs140m.
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Notes and media contacts
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 Dhs100; 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% of the profits made by the National Bonds Corporation (NBC) will be distributed among bondholders.
Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, February 06 - 2008 at 13:24 UAE local time (GMT+4)
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