Honoured at Global Islamic Finance Award Ceremony in Dubai.
Dubai-UAE: November 27, 2013 – National Bonds , a leader in sharia compliant savings and investment schemes, has scooped the award for ‘Best Islamic Savings Product in 2013’ at the Global Islamic Finance Awards ceremony held in Dubai.
National Bonds Corporation was recognized for its ongoing efforts to foster a culture of savings through offering a range of products compatible with Islamic principles and accessible to all segments of the society in the UAE, as well as globally.
The Global Islamic Finance Awards, organized this year by Edbiz Consulting, are presented annually under the auspices of the Banking Conference Group in the Muslim world. The awards highlight best practices in the field of Islamic banking and finance. The award ceremony, which formed the highlight of the fifth World Islamic Retail Banking Conference in Dubai, witnessed the participation of prominent world leaders including the Crown Prince of the Malaysian state of Perak, Prince Dr Raja Shah Nzeran, and the former Prime Minister of Pakistan, Shaukat Aziz.
Mohammad Qasim Al Ali, CEO of National Bonds Corporation , said: “We are delighted to win this prestigious award that underlines our continued commitment to promoting a culture of savings and encouraging individuals and families to take the crucial step towards developing a regular savings habit. We provide our bondholders with updated products and services that keep pace with the changing requirements of our existing and new customers. We also offer innovative initiatives through strategic partnerships with financial institutions and local Takaful companies that in turn enable us to share best practices and support the efforts of individuals to ensure a secure financial future for themselves and their families.”
The award particularly highlighted the uniqueness of National Bonds as the first scheme of its kind in the Muslim world that offers Sukuk Al Mudaraba on retail basis and at affordable price starting from AED100 to citizens, residents as well as non-residents in the UAE with the National Bonds savings program. The award also recognized the prize linked savings scheme for being the largest and richest rewards program of its kind in the region.
National Bonds ‘ Rewards Program allows bondholders to win daily and weekly prizes of more than AED46 million annually. It also provides competitive annual returns that are higher than those granted by other savings programs. The company’s sustained efforts to educate and raise awareness on the importance of regular savings through initiatives such as the monthly savings program via issuing a standing instruction with banks or the monthly deduction program for employees from the private and public sector were also acknowledged.
Mohammad Qasim Al Ali added: “We thank the organizers of the Global Islamic Finance Awards for creating a knowledge-sharing platform that informs the public about the opportunities Islamic banking provides in the region as an ethical alternative to conventional banking. We would also like to thank our bondholders and our entire team including the company’s board of directors and of course our shareholders for their conviction and continued support to the scheme. We believe this award will definitely serve as a value-addition to Dubai’s bid to becoming the global capital of Islamic economy.”
National Bonds , licensed and regulated by the UAE Central Bank, is a sharia 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 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 profit up to 2.62% for 2012. The scheme has distributed an annualized rate of return of 5.6% since inception, which is a combined average of annualized profits and prizes distributed till 2012. National Bonds is a unique savings scheme with a huge and diversified client base with over than 690,000 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 enrol in regardless of the savings they have. The million dirham award is followed by two BMW cars in the second week and two gold bars to two women bondholders worth AED100,000 each during the third week. In addition to two scholarships worth AED 50,000 each to two student 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 90-day holding period by calling 600522279 or for instant cash redemptions up to AED 10,000 per day through visiting selective branches of Al Ansari exchange and UAE Exchange houses across the UAE.
National Bonds does not charge any transaction fee from its customers. One can open an account for free and also close the account 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 620 outlets across the UAE, including Emirates Post offices, exchange houses and banks.
National Bonds can also be purchased online at www.nationalbonds.ae or call 600 522 279
© Press Release 2013
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