National Bonds Corporation, the innovative Sharia compliant National Savings scheme, has announced the highest annual profit rate of 7.07 per cent in the UAE on saving schemes for its bond holders for a second consecutive year in 2008.

In spite of a gloomy global economic outlook, National Bonds has succeeded in achieving the highest returns for 2008 compared to the annual profit rate of 6.03 percent achieved at the end of its first financial year in 2007.

Announcing the annual profit disbursement, Mohammed Qasim Al Ali, the chief executive officer of National Bonds Corporation, said: “Against the backdrop of a global economic slowdown, the highest return in 2008 has far exceeded peoples expectations for National Bonds as everyone’s favourite place to save along with being the safest, innovative and most rewarding saving scheme in the region."

Bondholders enjoyed the highest growth of 17.25 per cent in their profit rate in 2008 as compared to the previous year, along with the opportunity to win worth Dh5 million in 26,318 prizes every month.

In addition National Bonds Corporation enables one bondholder to become a millionaire every month, he added.

The annual profit rate of 7.07 per cent is the highest return against any comparable savings scheme offered by any financial institution in the UAE, and reflects the impressive growth achieved by National Bonds in just over a period of two years since it was launched.

Furthermore, we have also registered a 152 per cent increase in sales in 2008 over the previous year. National Bonds Corporation has now proudly set a new benchmark for savings schemes.

Remarkably with the achievements of 2008, National Bonds Corporation has also succeeded in securing 10 per cent of the UAE’s population as its market share in reaching half a million bond holders from over 91 nationalities, a significant 39 percent increase over the previous year.

Its total sales reached the Dh4 billion mark for 2008 and National Bonds Corporation is sure to deliver its promise of becoming “everyone’s favourite place to save,” Al Ali added.

Interestingly more young people are banking on National Bonds, with this customer segment recording a 50 per cent increase in 2008 over 2007.

"Our female customer segment also showed a remarkable increase of 40 per cent over the same period. However, institutes have by far been the customer segment that has seen major growth, registering a record 149 per cent increase in 2008 over the previous year.

Illustrating the fact that National Bonds has become the most attractive savings scheme for people from all nationalities, the statistics show a 35 per cent increase in customers who are non-residents.
  
"We are committed to nurturing a savings culture by encouraging people to save in National Bonds and by re-investing their savings in development initiatives in the UAE," Al Ali explained.

"As a Sharia compliant institution, National Bonds Corporation adheres to strict Shari’a guidelines regarding its investments, while at the same time focusing on generating the highest returns for its bondholders," he added.-TradeArabia News Service