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23 April 2024

National Bonds posts Dh140m sales in January

By Staff Writer


The year 2008 has started on a high note for National Bonds, the Shariah-compliant national savings scheme of the UAE, with record sales for January at Dh140 million.

This is an increase of 115 per cent over the January 2007 sales figures and comes close on the heels of National Bonds declaring its first financial results of a pro rata yearly profit disbursement of 6.03 per cent on each bond for the year ending December 31.

Last month, the National Bonds Corporation issued 14 million National Bonds. A major share of these new enrollments came from businesses, underlining the corporate sector’s growing preference for the scheme as a liquid and performing investment alternative.

Commenting on the record sales, Mohammad Qasim Al Ali, CEO of National Bonds Corporation, said the higher than average profit has helped further cement customer confidence in the savings scheme.
“As a savings scheme National Bonds has certain unique attractions – it is Shariah-compliant, both affordable and accessible to all income groups, available through a variety of distribution channels, offers higher than average annual returns and gives an opportunity to win prizes in monthly draws. Now our profit distribution is an added attraction and proof of the success of our investment initiatives in diverse sectors. We are confident that the sales figures will now be on a course of compounded growth.”

National Bonds offers holders the benefits of indicative annual returns on investment of their capital in Mudarabah, along with the opportunity to win 26,318 prizes given at the sole discretion of the Mudareb and from its funds. A total of Dh5m is given in prizes every month, including a grand prize of Dh1m.

The bonds can be purchased from various banks and exchange houses, including Dubai Islamic Bank, Emirates Islamic Bank, Sharjah Islamic Bank, Lari Exchange, Al Ansari Exchange, Al Ghurair Exchange, Al Fardan Exchange, Al Rostamani International Exchange Company and online at the corporation’s website.

The number

the pro rata annual profit on each bond announced by National Bonds Corporation for the year ending December 31.