National Bonds, the leading Shariah compliant saving scheme of its kind in the region, has announced its new prize structure for 2012.
The new structure continues to offer the monthly Dh1 million mega prize and has increased the number of weekly prizes from 5,135 to 9,635. The new structure also gives customers the opportunity to raise their chances of winning more prizes in every draw depending on their holding period. For instance, a newly issued bond will get one chance to win in the draw, while a bond held for six months will get two chances, whereas a bond held for twelve months will get three chances and so on.
“National Bonds is more than a prize; it is a lifelong experience that we hope will be passed from one generation to another. It is a simple scheme that offers a unique saving experience, with competitive returns, the added benefits of prizes, life Takaful protection and no additional transaction costs. Most importantly it provides customers with peace of mind that they can access their funds when needed and it is safely managed by a reputed and regulated company in a manner that is ethically and socially responsible,” said Mohammed Qasim Al Ali, Chief Executive Officer, National Bonds Corporation PJSC.
In 2011, National Bonds gave away 272,167 prizes and introduced 12 instant millionaires. “No wonder that National Bonds is the most rewarding saving scheme in the region,” added Al Ali.
The weekly draw will now be conducted on every Sunday instead of Saturday, while the monthly draw will be on the first Sunday of every month. The decision has been taken in order to allow people to take more advantage of their free time and save with National Bonds over the weekends. All bondholders with holdings of 300 bonds or more now qualify for the weekly and the monthly draws.
Bonds are carried-over every week to subsequent draws and can be en-cashed anytime after 30 days from issuance date. Encashment can be requested by phone. To further provide customers with the convenience of instant encashment of an amount up to Dh10,000 per day per account, the service is now made available seven days a week through designated outlets of Al Ansari Exchange covering all emirates.
“The success of any product is dependent on the demand for it. We have seen steady growth in demand for more savings and investment tools that are Shariah compliant, safe, convenient, liquid and highly rewarding. So we will continue to expand our value proposition by offering new and innovative financial solutions tailored to fulfill the life cycle needs of our bondholders” added Mohammad Bitar, Chief Strategy Officer, National Bonds Corporation PJSC.
National Bonds draws are supervised by the Dubai Economic Department. National Bonds are available at nearly 620 outlets nationwide including Emirates Post offices, exchange houses and selected banks.