National Bonds sales surge in January

Dubai: National Bonds, the Sharia-compliant national savings scheme of the UAE, on Wednesday said it sold 14 million bonds last month worth Dh140 million.

It is an increase of 115 per cent over the January 2007 sales figures and comes close on the heels of National Bonds declaring its first financial results of a pro rata yearly profit disbursement of 6.03 per cent on each bond for the year ending December 31, 2007.

A major share of the January enrolments came from businesses.

Mohammad Qasim Al Ali, CEO of National Bonds Corporation, said the higher than average profit has helped further cement customer confidence in the savings scheme.