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Bondholders enjoyed the highest growth of 17.25% in their profit rate in 2008 as compared to the previous year, along with the opportunity to win worth Dhs5m in 26,318 prizes every month. In addition National Bonds Corporation enables one bondholder to become a millionaire every month.
Announcing the annual profit disbursement, Mr. Mohammed Qasim Al Ali, the Chief Executive Officer of National Bonds Corporation, said:
"Against the backdrop of a global economic slowdown, the highest return in 2008 has far exceeded peoples expectations for National Bonds as everyone's favourite place to save along with being the safest, innovative and most rewarding saving scheme in the region. The annual profit rate of 7.07% is the highest return against any comparable savings scheme offered by any financial institution in the UAE, and reflects the impressive growth achieved by National Bonds in just over a period of two years since it was launched. Furthermore, we have also registered a 152% increase in sales in 2008 over the previous year. National Bonds Corporation has now proudly set a new benchmark for savings schemes."
Remarkably with the achievements of 2008, National Bonds Corporation PJSC has also succeeded in securing 10% of the UAE's population as its market share in reaching half a million bond holders from over 91 nationalities, a significant 39% increase over the previous year. Its total sales reached the Dhs4bn mark for 2008 and National Bonds Corporation is sure to deliver its promise of becoming 'everyone's favourite place to save'.
"Interestingly more young people are banking on National Bonds, with this customer segment recording a 50% increase in 2008 over 2007. Our female customer segment also showed a remarkable increase of 40% over the same period. However, institutes have by far been the customer segment that has seen major growth, registering a record 149% increase in 2008 over the previous year," he added
Illustrating the fact that National Bonds has become the most attractive savings scheme for people from all nationalities, the statistics show a 35% increase in customers who are non-residents.
Mr. Al Ali added, "We are committed to nurturing a savings culture by encouraging people to save in National Bonds and by re-investing their savings in development initiatives in the UAE. As a Sharia compliant institution, National Bonds Corporation adheres to strict Shari'a guidelines regarding its investments, while at the same time focusing on generating the highest returns for its bondholders."
The Mudaraba fund is being invested back into the UAE economy through its initiatives like Taleem an educational initiative to raise the level of education in the region, BCS a Strata Management company specializing in property management, its property development projects, Skycourts and Flamingo Creek and Souk Extra the community shopping chain.
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Posted by Rana Mesbah
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