Dubai: National Bonds Corporation PJSC, the Sharia-compliant national savings scheme, has announced the highest annual profit rate of 7.07 per cent in the UAE on saving schemes for its bond holders for a second consecutive year in 2008.
In spite of a gloomy global economic outlook, National Bonds has succeeded in achieving the highest returns for 2008 compared to the annual profit rate of 6.03 per cent achieved at the end of its first financial year in 2007.
Bondholders enjoyed the highest growth of 17.25 per cent in their profit rate in 2008 as compared to the previous year, along with the opportunity to win worth Dh 5 million 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, Mohammad 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."
National Bonds Corporation has also succeeded in securing 10 per cent of the UAE's population as its market share in reaching half a million bond holders from over 91 nationalities, a significant 39% percent increase over the previous year. Its total sales reached the 4 billion Dirham's 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 per cent increase in 2008 over 2007. Our female customer segment also showed a remarkable increase of 40 per cent over the same period. However, institutes have by far been the customer segment that has seen major growth, registering a record 149 per cent increase in 2008 over the previous year," Al Ali said.
Illustrating the fact that National Bonds has become the most attractive savings scheme for people from all nationalities, Al Ali said the statistics show a 35 per cent increase in customers who are non-residents.
"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" added Al Ali.
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.
Do you know anyone who invests in National Bonds? Are they satisfied with their choice? Do you think bonds an attractive alternative to other investment opportunities?
Your comments
Keeping in mind the present turmoil in real estate and other such related invesments, I think National Bonds is the safest. I have purchased Dh20,000 worth but still have not won any prize. I think the more you invest, the higher the chances are of winning.
Mahdi Mousa
Dubai,UAE
Posted: January 25, 2009, 12:43
I have invested a small amount in National Bonds. Although I have not yet been a winner of their monthly draws, I am earnestly awaiting. My account has been credited with the profit in 2007 and 2008. NBC is reportedly paying out a large amount for the winners on monthly basis. In this respect, I wonder why they cannot add this amount to each individuals account so that all can be benefited from the profits. I wish all success to this endeavour.
Abdulbasheer
Dubai,,UAE
Posted: January 25, 2009, 10:54
As an expatriate Indian working in the UAE, I regularly used to read all news related to National Bonds and many times I visited its website, it is really amazing to know the high profit rate National Bond details. I believe, it?s a great attempt by the concerned authorities. From the above article we know that the economic recession doesn't make an impact on National Bonds popularity. It is a superior investment option than any other.
R Vairamuthu
Dubai,UAE
Posted: January 25, 2009, 10:19
Yes I have invested a part of my saving in National Bonds. Till now the experience is good with the corporation , but at time of purchase one of the authorised sellers gave me a tough time. Otherwise, other sellers are good and very helpful in this matter.
Syed
Ras Al Khaimah,UAE
Posted: January 25, 2009, 09:22
I am an investor with National Bonds since two years. My mom persuaded me to invest in National Bonds and now am happy that I did so. I have also won twice in monthly draws which is an added advantage!! So, for National Bonds I offer myself as a guarantee!
Cheers to the Team!
Tina Vibin
Dubai,UAE
Posted: January 25, 2009, 09:02
A simple and convenient way of investments for the middle income group.
Besides the updates sending on SMS I would suggest also forward the messages/updates through e-mail as well, which could help us to update our records.
All the best to the team of National Bonds.
Edmond Noronha
Dubai,UAE
Posted: January 25, 2009, 08:07
