This scheme will offer employees an opportunity to save a portion of their salary on a monthly basis voluntarily seamlessly in National Bonds - the National Savings scheme - which will entitle them to all of the benefits offered by National Bonds.
The introduction of such a scheme is part of an on-going initiative aiming to reach out to every individual within the UAE to encourage a healthy and regular savings habit. It strives at creating more awareness within the society on the importance of saving now to ensure a secure future.
Dubai Aviation City Corporation (DWC) with its visionary leadership is the first organization in the UAE to adopt the Employee Savings scheme. DWC management was dedicated to spreading, amongst employees, the awareness of the benefits of such an exciting engagement. Meanwhile there are other government & private organizations that showed keen interest and will be joining this voluntary saving option soon.
Each employee who opts for this scheme will simply be required to sign a Letter of Authority that will allow the employer to deduct the agreed amount on a monthly basis from the employee's salary and which will then be credited to their existing or new National Bonds account.
On signing the authority letter, employees will be eligible for the annual profit rate, weekly draws and other benefits associated of being a bondholder. The employee can contact National Bonds through its various channels such as Call Center, Online and distribution network - exchange houses and banks.
The agreement was signed by Mr Mohammed Qasim Al Ali, Chief Executive Officer, National Bonds Corporation PJSC and Mr. Rashed Buqara'a, Chief Operating Officer of Dubai Aviation City Corporation.
Commenting on the new scheme, Mr Mohammed Qasim Al Ali said, "We are pleased that a leading organization like Dubai Aviation City Corporation has taken this wise step to encourage its employees to save in view of the global crunch with National Bonds. This scheme will give us the opportunity to reach out to a wider audience and spread the message of Savings. The direct salary deduction program will give employees a hassle-free opportunity to save, which has become paramount in these very challenging times, and also be rewarded for adopting such a useful habit. We are looking at our alliance with Dubai Aviation City Corporation as a path-breaking model that can be replicated with other organizations in the UAE."
Mr. Rashed Buqara'a said, "I think what makes this service unique is building the savings culture which will help employees improve their financial status. Most financial consultants advise to save not less than 10% of one's monthly salary in saving products such as National Bonds. Such initiatives reaffirm our belief that our employees are our most important asset and that their stability is a critical element of our success. I would like to express my deep appreciation to National Bonds for its commitment for providing and encouraging this service."
Over 60 people have become millionaires by simply saving in National Bonds, and adopting the concept of saving.
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National Bonds Corporation launches Employee Savings Scheme
- United Arab Emirates: Monday, November 02 - 2009 at 13:18
- PRESS RELEASE
National Bonds Corporation PJSC has introduced the Employee Saving Scheme which will be offered to both government and private institutions. This innovative new service would enable employers to add value to their staff welfare by providing extra benefits which in turn will encourage loyalty to the organization and increase employee retention.
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Notes and media contacts
National Bonds are available for purchase in nearly 500 outlets nationwide and can be bought online at www.nationalbonds.ae or by calling the toll free number 800-BONDS (26637).About National Bonds Corporation PJSC:
National Bonds Corporation PJSC was launched in March 2006. The Government of Dubai holds a 50 per cent ownership in the company with each of its shareholders, comprising Dubai Bank, Dubai Holding and Emaar Properties, holding 16.6% ownership respectively. National Bonds Corporation is Sharia compliant, with a dedicated Sharia Board to oversee all financial aspects, including product-related operations and investments.
In December 2006, National Bonds Corporation launched property development projects - "Skycourts," the elegant and affordable freehold residential community in the heart of Dubailand, and Flamingo Creek in the Lagoons. In 2007, National Bonds Corporation launched National Properties, a wholly-owned, full-service real estate subsidiary that offers distinctive homes and lifestyle options to the multinational UAE community. National Bonds Corporation has invested in Taaleem PJSC, an initiative aimed at raising quality standards in the region's education sector. It is the new brand for Beacon Education that aims to inspire young minds, and helps them identify and develop their passions and talents. National Bonds Corporation has also invested in BCS, a Strata Management company specializing in property management, Souk Extra the retail community shopping chain, and in M'sharie, the private equity arm of Dubai Investments.
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 Sharia-compliant savings opportunity. Minors can also own National Bonds, provided the bonds are purchased by the parent/guardian. Each bond costs Dhs10, with a minimum purchase of Dhs100; National Bonds can be purchased from nearly 500 outlets across the UAE, including exchange houses and banks. These include Emirates Islamic Bank, Dubai Islamic Bank, Sharjah Islamic Bank, Dubai Bank, Al Hilal bank and exchange houses: Al Ansari, Al Fardan, Al Ghurair, Redha Al Ansari, Al Rostamani International, UAE, Wall Street, Lari, Orient, Sharaf and Habib Exchange Company. National Bonds can also be purchased online at www.nationalbonds.ae or call Toll Free 800-BONDS (26637).
National Bonds awards 101 prizes every week, of amounts ranging between Dhs1m, Dhs10,000, Dhs5,000, Dhs1,000 and Dhs500. This amounts to an impressive AED1,155,000 in total prize money awarded each week. 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 will be distributed among bondholders.
About Dubai Aviation City Corporation (DWC):
Dubai Aviation City Corporation (DWC) is owned by the Government of Dubai. It is one of the strategic projects for the government as it positions Dubai to be a commercial center and international logistics hub. It is considered to be one of the most ambitious projects in the world occupying an area of 140Km2 in Jebel Ali. DWC contains Al Maktoum International Airport (AMIA) which will be the world's largest airport with 120 million passenger/year capacity and a cargo capacity of 12 million tons/year. Logistics and Aviation Cities will be surrounding the airport as a specialized free zone focused on the logistics, cargo and aviation industries. In addition the project encompasses several real estate developments. Phase I of the project will be fully completed and launched in June 2010 and will include:
• Phase I of AMIA with 5 million pax/year passenger capacity and a cargo capacity of 600,000 tons/year.
• Infrastructure for the first three phases of Dubai Logistics City (DLC).
• Designing of Phase I for Aviation City.
• Designing of Phase I & II of Residential City.
Media contact:
Idil Akinci
Program Executive
BPG PR
Level 6 MAF Tower Deira City Center
PO Box 3294 Dubai, UAE
T +971 4 295 3456 ext 324
F +971 4 295 8066
Posted by Siba Sami AmmariMonday, November 02 - 2009 at 13:18 UAE local time (GMT+4)
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