UAE's new millionaires: 22 Indians, 17 Pakistanis

Of the over 140 millionaires made by National Bonds Corporation (NBC), a UAE-based savings scheme, since its inception in 2006, 22 have been Indians and 17 Pakistan nationals.

The company, licensed and regulated by UAE’s Central Bank, revealed out of its bondholders 198,012 are Indians and 63,752 are Pakistan nationals. Besides the millionaires, Indian bondholders have bagged 338,952 prizes while Pakistani bondholders have won 186,787 prizes to date.

To mark the occasion of Pakistan’s Independence Day on August 14 and India’s Independence Day on August 15, the company offered double chances to win to its Pakistani and Indian bondholders for all draws that will be held until September 9.

In April, Mohammed Qasim Al Ali, Chief Executive Officer, NBC, told Emirates24|7 that majority of the millionaires were continuing to keep their prize money (Dh1 million) invested in the savings scheme.

“Seventy five per cent of our millionaire draw winners keep their fund with us. And three of these millionaires have been lucky enough to win other millionaire draws,” he said.

NBC distributes nearly Dh46 million in annual prize money. It announced an annual profit of 1.5 per cent for 2012, which was lower than the two per cent announced in 2011.

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