National Bonds registers Dh1.4b sales in first half of 2008

Dubai: National Bonds, the Sharia-compliant national savings scheme of the UAE announced on Saturday that it has achieved bond sales of Dh1.4 billion at the end of June 2008, an increase of over 200 per cent compared to Dh460 million for the same period in 2007.

The company also witnessed an exponential increase in bond sales among UAE youth and women from January to June 2008, 124 per cent and 130 per cent, respectively, the company said in a statement.

Mohammed Qasim Al Ali, Chief Executive Officer of National Bonds Corporation, said that the surge in sales was driven by the company's strategy to increase awareness of the value of savings among UAE residents, with specific campaigns targeted at youth and housewives.

"It is very encouraging to see women and youth, in particular, saving with National Bonds as a secure investment channel for their future. This goes to prove that National Bonds has definitely emerged as 'everyone's favourite place to save'," Al Ali said.

As part of the awareness campaign undertaken earlier this year, National Bonds set up information kiosks at various malls throughout the UAE. Visitors to the malls were given the opportunity to learn about the benefits of investing with National Bonds and purchase bonds from the kiosks.