National Bonds, a leader in sharia compliant savings and investment schemes, has scooped the award for ‘Best Islamic Savings Product in 2013’ at the Global Islamic Finance Awards ceremony held in Dubai.

National Bonds Corporation was recognised for its ongoing efforts to foster a culture of savings through offering a range of products compatible with Islamic principles and accessible to all segments of the society in the UAE, as well as globally.

The Global Islamic Finance Awards, organized this year by Edbiz Consulting, are presented annually under the auspices of the Banking Conference Group in the Muslim world. The awards highlight best practices in the field of Islamic banking and finance.

The award ceremony, which formed the highlight of the fifth World Islamic Retail Banking Conference in Dubai, witnessed the participation of prominent world leaders including the Crown Prince of the Malaysian state of Perak, Prince Dr Raja Shah Nzeran, and the former Prime Minister of Pakistan, Shaukat Aziz.

Mohammad Qasim Al Ali, CEO of National Bonds Corporation, said: “We are delighted to win this prestigious award that underlines our continued commitment to promoting a culture of savings and encouraging individuals and families to take the crucial step towards developing a regular savings habit.

“We provide our bondholders with updated products and services that keep pace with the changing requirements of our existing and new customers. We also offer innovative initiatives through strategic partnerships with financial institutions and local Takaful companies that in turn enable us to share best practices and support the efforts of individuals to ensure a secure financial future for themselves and their families.”

The award particularly highlighted the uniqueness of National Bonds as the first scheme of its kind in the Muslim world that offers Sukuk Al Mudaraba on retail basis and at affordable price starting from Dh100 ($27.2) to citizens, residents as well as non-residents in the UAE with the National Bonds savings program. The award also recognised the prize linked savings scheme for being the largest and richest rewards program of its kind in the region.

National Bonds’ Rewards Program allows bondholders to win daily and weekly prizes of more than Dh46 million annually. It also provides competitive annual returns that are higher than those granted by other savings programs.

The company’s sustained efforts to educate and raise awareness on the importance of regular savings through initiatives such as the monthly savings program via issuing a standing instruction with banks or the monthly deduction program for employees from the private and public sector were also acknowledged. – TradeArabia News Service