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29 May 2023

National Bonds website now offers up-to-date financial planning advice

By Wam

National Bonds, a sharia-compliant savings and investment company in the UAE, has started providing financial planning tips and tools via its website as part of its continued efforts to spread financial literacy among the UAE population and the wider region.
Launched by the Financial Advisory unit at National Bonds, the new financial planning section offers valuable insights and information, in both Arabic and English, to help customers achieve their financial objectives.

Topics cover planning for retirement and children’s education, debt management, investment solutions, takaful (Islamic insurance), and estate planning. In addition, the website offers practical financial planning tips on goal setting, cash management and budgeting, financial health, and the rule of 72 (a shortcut to estimate the number of years required to double your money at a given annual rate of return).

The portal also includes handy online calculators for accurately computing expenses, commitments, and budgets for customers to assess how best to save for a secure retirement or consolidate their debts, as well as fine-tune their educational savings strategy. One of the calculators can even help determine when a savings plan will turn a regular saver into a millionaire. The website dedicates a full page to the latest publications, books and global research in the field of savings and investment.

Speaking on the new services, Mohammed Qasim Al-Ali, CEO of National Bonds, said, "Financial planning is the only way for individuals, corporations, and even governments to achieve financial security. Since the launch of our company, we have worked relentlessly to enhance financial literacy among citizens and residents of the UAE. Leveraging our extensive experience in savings and investment, we help web users improve their financial conditions. Our new online tool will save time and effort for those looking for simple and straightforward financial planning based on a scientific approach and expertise."

The 2015 National Bonds Savings Index has revealed that 48 percent of savers who participated in the survey let information they read on websites influence their savings and investment decisions, while only 11 percent said they relied on TV, and 12 percent resorted to magazines and economic newspapers. As for the Kingdom of Saudi Arabia and other GCC countries, the Savings Index has indicated that as many as 77 percent of the participants consider the internet to be a reliable source of financial knowledge.