Continuing with its “save and win” philosophy, National Bonds Corporation (NBC), a Shariah-compliant savings company, has unveiled its new reward strategy: A winner every minute.
The new reward structure, which becomes effective from May 1, offers 1,440 daily rewards in Dh50 bonds, totaling Dh26 million in annual prize money to bondholders. Of the total daily prizes, 200 have been reserved for minor bondholders, 200 for female bondholders and 200 for regular savers (direct debit arrangement).
Apart from announcing a millionaire on the first Sunday of the month, the company will give bondholders the chance to own two BMW cars, one gold bar each worth Dh50,000 to two female bondholders (one Emarati and one expat) and two scholarships worth Dh25,000 each to two minor bondholders in monthly draws.
Overall, the company will distribute total annual prizes worth Dh46 million. Besides, it has slashed the minimum subscription amount to become eligible to all draws to Dh100 from Dh3,000.
“We are the first company to offer daily prizes to our bondholders in the region,” claimed Mohammed Qasim Al Ali, Chief Executive Officer, NBC.
He added: “The new reward programme is based on the feedback that we get from our bondholders. Our surveys reveal that our customers’ priority are children education, housing, retirement and marriage. Our new system links our rewards to their aspirations in life.”
“Since 2006, we have changed our prize structure four times,” Al Ali said, adding, “ This time we want to reward children, ladies and our regular savers.”
To inculcate the habit of saving among the UAE Nationals, the company segregated bondholders in two categories: nationals and expatriates.
Currently, NBC, licensed and regulated by the UAE Central Bank, has over 70,000 employees of Dubai government enrolled in the Employee Saving Programme that allows organizations to provide their employees with a reliable payroll deduction platform for building their retirement funds.
By end-March, the size of the bondholder fund stood at Dh5.05 billion. Customer base grew six per cent in Q1 2013 compared to Q1, 2012. Nearly 200 nationalities are investing in the scheme with 75 per cent being repeat purchasers.