National Bonds is a private joint stock shareholding company, National Bonds Corporation was launched in March 2006.
The Government of Dubai holds a 50 per cent ownership in the company with each of its shareholders, comprising Dubai Bank, Dubai Holding and Emaar Properties, holding 16.6 per cent ownership respectively.
National Bonds Corporation is Sharia compliant, with a dedicated Sharia Board to oversee all financial aspects, including product-related operations and investments.
In December 2006, National Bonds Corporation launched property development projects - "Skycourts," the elegant and affordable freehold residential community in the heart of Dubailand, and Flamingo Creek in the Lagoons.
In 2007, National Bonds Corporation launched National Properties, a wholly-owned, full-service real estate subsidiary that offers distinctive homes and lifestyle options to the multinational UAE community.
National Bonds Corporation has invested in Taaleem PJSC, an initiative aimed at raising quality standards in the region's education sector.
It is the new brand for Beacon Education that aims to inspire young minds, and help them identify and develop their passions and talents.
National Bonds Corporation has also invested in BCS, a Strata Management company specialising in property management, Souk Extra the retail community shopping chain, and in M'sharie, the private equity arm of Dubai Investments.
National Bonds is the National Saving Scheme of the UAE that provides UAE nationals, residents and non-residents over the age of 16 with a credible, safe and Sharia-compliant savings opportunity.
Minors can also own National Bonds, provided the bonds are purchased by the parent/guardian. Each bond costs Dh10, with a minimum purchase of Dh100; National Bonds can be purchased from nearly 500 outlets across the UAE, including exchange houses and banks.
These include Emirates Islamic Bank, Dubai Islamic Bank, Sharjah Islamic Bank, Dubai Bank , Al Hilal bank and exchange houses: Al Ansari, Al Fardan, Al Ghurair, Redha Al Ansari, Al Rostamani International, UAE, Wall Street, Lari, Orient, Al Razouki International, Sharaf and Habib Exchange Company.
National Bonds can also be purchased online at www.nationalbonds.ae or call toll free 800-BONDS (26637). National Bonds awards 101 prizes every week, of amounts ranging between Dh1 million, Dh10,000, Dh5,000, Dh1,000 and Dh500.
This amounts to an impressive Dh1,155,000 in total prize money awarded each week. The programme is based on the Islamic principle of Mudaraba, whereby at the end of the financial year 20 per cent of the profits made by the National Bonds Corporation will be distributed among bondholders. -
tagsUnited Arab Emirates