Inspired by HH Sheikh Mohammed Bin Rashid Al Maktoum's, Vice President and Prime Minister of the UAE and Ruler of Dubai, visionary initiative to support educational achievement in the UAE, NBC has awarded twenty four students with AED10,000 worth of bonds each.
The country's top students were selected on the basis of academic performance in Literature and Science. Furthermore, two visually impaired students were among the students who were rewarded for their excellent efforts. The graduates, both UAE nationals and expatriates, will now have the opportunity to learn more about the national savings scheme whilst benefiting from annual returns. The students will also automatically be entered into monthly draws with the opportunity to win AED 1 million.
Nasser Al Shaikh, Vice Chairman and CEO of NBC, commented, "Education is a building block for the prosperity of the UAE. Today's learners are tomorrow's leaders. Following the example of HH Sheikh Mohammed Bin Rashid Al Maktoum, we are delighted to be able to support these young students as they embark on future studies or careers."
Nasser Al Shaikh continues, "This initiative is part of our commitment to the development of the community. We take pride in how these young people have excelled in their studies and we look forward to encouraging more pupils in the future."
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Inspired by HH Sheikh Mohammed Bin Rashid Al Maktoum's recent initiative, NBC awards AED 240,000 worth of bonds to top high school graduates
- United Arab Emirates: Sunday, July 02 - 2006 at 13:00
- PRESS RELEASE
National Bonds Corporation (NBC) has rewarded Dubai's brightest high school graduates with a total of AED 240,000 worth of bonds.
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About National Bonds:Priced at 10AED per bond and available in a minimum purchase of 100AED, National Bonds offer all participants a safe and credible savings option whilst simultaneously providing people with a unique 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 savings mechanism based on the Islamic principle of Mudaraba. At the end of the financial year, profits made by National Bonds Corporation will be determined and 20% of this amount will be distributed amongst bond holders. The distribution will be according to the number of bonds held by an individual, and for the time period the bonds were held, during the related financial year.
About National Bonds Corporation:
National Bonds Corporation is a private shareholding company. Established in Dubai, UAE in March 2006 National Bonds Corporation is licensed to operate throughout the UAE.
A new initiative, National Bonds Corporation is owned by Dubai Bank, Dubai Holding and Emaar Properties. National Bonds are a Shari'a compliant product with a dedicated Fatwa and Shari'a Supervisory Board to oversee all financial aspects including product related operations and investments.
For more information please contact:
Claire Liddell G2 PR Department
Tel: 04 3310331
Fax: 04 3310553
Posted by Janeta Novakovic, Assistant News EditorSunday, July 02 - 2006 at 13:00 UAE local time (GMT+4)
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