National Bonds sales up 5% last year

Dubai: National Bonds Corporation achieved sales of more than Dh1 billion in the first half of 2010, taking its total number of customers to more than 590,000, a growth of 5 per cent over last year. This means that around 8.5 per cent of the UAE population now holds National Bonds, the company said in a statement yesterday.

The savings scheme increased its number of female savers to 145,000, holding Dh1.1 billion in funds. Another segment that achieved growth in 2010 is minors — customers under the age of 16, who now number 94,000 with a total of Dh350 million in funds. UAE nationals increased to 168,000 and hold over Dh1 billion in funds.

More than 83,460 bondholders were rewarded with prizes amounting to over Dh26 million, resulting in 16 new millionaires joining the National Bonds family of winners in the first half of 2010.

The savings scheme awards 22,250 prizes to its bondholders every month — 5,135 weekly prizes and a life-changing Dh1 million grand prize per month.

"With such a significant segment of the UAE population already saving with National Bonds, it is testament to the success of our savings scheme that we still continue to achieve growth both in terms of number of savers and fund size," Mohammad Qasim Al Ali, Chief Executive Officer of National Bonds Corporation, said in the statement.

National Bonds also announced that the number of nationalities holding its bonds has increased from 91 to 191. The increase comes as more expats in the UAE see the benefits of saving coupled with things like weekly rewards, annual profits.