Dubai-UAE: – National Bonds Corporation , the leading sharia’a-compliant savings and Investments Company in the UAE, has scooped the award for ‘Best Islamic Savings Product in 2014’ at the Global Islamic Finance Awards ceremony held in Dubai on 27 October.
The Global Islamic Finance Awards highlight the success and achievements of institutions and individuals in the Islamic banking and finance domain.
Receiving the award for the second consecutive year, National Bonds was recognized for its ongoing efforts in instilling a sustainable culture of savings among all segments of society in the UAE and the wider region through offering a range of products that are compatible with Islamic principles.
Mohammed Qasim Al Ali, CEO of National Bonds Corporation , said: “We are delighted to win this prestigious award that articulates our aim of fostering financial stability for the UAE as a whole and the wider region by encouraging individuals and families to take the crucial step towards developing a regular savings habit. We are glad that our efforts are receiving industry accolades. Such recognitions incentivize us to continue delivering innovative solutions for raising the financial literacy of the communities we engage with.”
The award particularly highlights National Bonds as the first scheme of its kind in the Muslim world to offer Sukuk Al Mudaraba on a retail basis and at an affordable price starting from AED100 to citizens, residents as well as non-residents in the UAE with the ‘ National Bonds savings program’.
The award additionally recognizes National Bonds ‘ rewards program – the largest and richest of its kind in the region. The savings programs offered secures competitive annual returns in addition to daily and weekly prizes distributed of more than AED49 million.
In the award citation, National Bonds was also commended for its commitment to educate and promote a culture of savings among all segments of the society in the UAE and beyond through offering a range of products including the monthly savings program via the Direct Debit platform with banks or the popular monthly salary deduction program for employees from the private and public sectors.
Mohammed Qasim Al Ali added: “The innovative initiatives offered through our strategic partnerships with financial institutions and local takaful companies enable us to offer a richer savings experience and support the efforts to ensure a sustainable financial future for our bondholders. This award is another significant validation of our role in supporting Dubai to becoming the global capital of Islamic economy.”
The Global Islamic Finance Awards, organized by Edbiz Consulting, are presented annually under the auspices of the Banking Conference Group.
National Bonds , licensed and regulated by the UAE Central Bank, is a sharia’a compliant saving compliant savings scheme that provides UAE nationals, UAE residents and non-residents with a credible and safe savings opportunity. Minors can also own National Bonds , provided the bonds are purchased by the parent/guardian. Each bond costs AED10, with a minimum purchase limit of AED100.
About National Bonds Corporation PJSC
National Bonds , which is licensed and regulated by the UAE Central Bank, is a Sharia’a compliant saving scheme that provides UAE nationals, UAE residents and non-residents – with a credible and safe savings opportunity. Minors can also own National Bonds , provided the bonds are purchased by the parent/guardian. Each bond costs AED 10, with a minimum purchase of AED 100 National Bonds Corporation PJSC announced an annual return up to 2.89% for 2013. The scheme has distributed an annualized rate of return of 5.6% since inception, which is a combined average of annualized returns and prizes distributed till 2013. National Bonds is a unique savings scheme with a huge and diversified client base with over than 750,000 customers, offering:
Customers will have the opportunity to win 43,207 prizes every month. These prizes include a double number of weekly awards distributed across two categories of citizens and residents. The first week prize is the million dirham awards that allow all bondholders to enroll in regardless of the savings they have. The million dirham award is followed by two gold bars to two women bondholders worth AED50, 000 each in the second week and two BMW cars during the third week. In addition to two tuition fees worth AED25,000 each to two minor bondholders.
The prizes also includes give away cash award every minute of every day. The total number of cast award in a day is 1,440 valued at AED50 each, 600 prizes will be reserved for bondholders in specific sub-categories: 200 for women bondholders, 200 for children bondholders and 200 for bondholders who have a direct debit arrangement with their respective banks.
Savings with National Bonds can be redeemed easily after an initial 30-day holding period by calling 600522279 or for instant cash redemptions up to AED10,000 per day through visiting selective branches of Al Ansari exchange and UAE Exchange houses across the UAE.
National Bonds does not charge any subscription fee for the purchase of bonds. One can open an account for free and redeem bonds at any time without paying a penalty.
The National Bonds Employee Saving Program offers government and private sector employees an opportunity to save a portion of their salary on a monthly basis and also be entitled to all benefits and rewards offered by National Bonds .
National Bonds can be purchased from nearly 700 outlets across the UAE, including Emirates Post offices, exchange houses and banks.
National Bonds can also be purchased online at www.nationalbonds.ae
For more information please call:
Ghada El Khoury
Tel: +971 4 375 5247
Mob: +971 55 804 5317
Nabih Al Momaiz
Tel: +971 4 375 5247
Mob: +971 55 986 9770
Originally published on www.zawya.com