USD-AED linked sukuk from National Bonds

National Bonds Corporation, the investment company behind the leading Shari’ah-compliant saving scheme, on Monday announced the ‘USD-dirham linked sukuk’, aimed at customers who already allocate a portion of their investments in US dollars or are planning to do so in future.

“Customers will now have the option to invest their funds in US dollars and reap attractive dirham returns,” the company said in a statement. Customers will also be covered by National Bonds ‘Individual Takaful Life Cover’ in case of accidental death within the first 90 days of issuance of the savings certificate; thereafter they will automatically be covered for both accidental and natural death up to a maximum of Dh125,000, the statement said.

“The USD-dirham linked sukuk illustrates our commitment to meeting the special needs of our clients seeking secure and flexible ways to save. By introducing new initiatives and enhancements that simplify the process of saving, we aim to help more people take control of their finances and ultimately nurture a savings culture to maximise the returns of their capital either in Dirham or USD,” said Mohammed Qasim Al Ali, CEO of National Bonds Corporation.

The USD-dirham linked sukuk is available to UAE residents, non-residents and corporations with a minimum investment amount of $5,000 and a lock-in period of 90 days. While offering competitive annual returns that averaged around 5.3 per cent over the past 5 years, the USD-dirham linked sukuk offers additional benefits including weekly monthly prizes, the company said.

“Our new USD-dirham Linked Sukuk is a result of continuous research and dialogue with our bondholders within this market segment, which confirms the innovation of this new product to meet and surpass the expectations of our customers. The option of investing in US dollars whilst earning dirham returns is unique in comparison to any other US dollar saving scheme in the local or international markets allowing us to focus even more on this market segment both locally and internationally,” added Louis Bruno Rochecouste, Chief Innovation and Change Officer, National Bonds Corporation.