Investment
Savers earned returns of up to 3.33% on their savings; one of the highest in the region. Image Credit: Pixabay

Dubai: National Bonds, the UAE’s Shariah-compliant savings and investment company, saw its investments increase by 36 per cent to Dh11.89 billion in 2021, it said on Thursday.

Owned by the Investment Corporation of Dubai, the company reported an increase of 64 per cent in sales, attributing the growth to its innovative savings programmes and services.

Savers earned returns of up to 3.33 per cent on their savings, one of the highest in the region. Bondholders also won Dh36.9 million in draw prizes and received additional bonuses from the Mudarib’s own funds, based on their invested amount, tenure and savings behavior.

So far, long-term National Bonds savers, who have been with the company since 2006, have earned 64.11 per cent in cumulative returns on their savings.

The company also saw a 62.4 per cent increase in mobile digital savers owing to the fast, seamless onboarding and the operational fluidity it offers.

Khalifa Al Daboos, Chairman of National Bonds, said: “National Bonds’ growth is a direct reflection of the shift in mindsets regarding the habit of saving. We are pleased to note that more and more people are going back to the roots of sound and lower risk savings to ensure their financial security.”

“Accessibility and our efforts to encourage equal opportunities across all segments has also proven to boost inclusivity. I am delighted to see that women now make up 41 per cent of the total customer base at National Bonds. With the junior saver savings increasing by 9 per cent, it is equally exciting to witness young people choosing to save more,” said Mohammed Qasim Al Ali, Group CEO of National Bonds.

In 2021, National Bonds created eight new millionaires and customers won Dh36.9 million, including 16 luxury cars as prizes. Since inception, the company has made 202 millionaires and distributed prizes worth more than Dh695 million.