For the seventh year in a row, National Bonds Corporation, the leading sharia-compliant savings and investment company in the UAE, is distributing ‘Eidiyah’ to more than 500 lucky minor bondholders.

Eidiyah is an annual initiative that rewards minor bondholders via special electronic draws for Dh50 ($13.6) and a grand draw for Dh50,000 ($13,609)- held on the first day of Eid Al Adha.

In its sustained efforts to encourage financial literacy in children and young people, National Bonds also allocates 200 daily and round-the-year prizes of Dh50 for minors as part of its rewards programme that is considered the largest in the country.

Eidiyah is a gesture of appreciation, designed to reward minors who have adopted the culture of saving on a regular basis and undertake responsible financial decisions - even during the general spending spree that prevails on occasions such as Eid.

Speaking on the initiative, Mohammed Qasim Al-Ali, CEO of National Bonds, said: "The Eidiyah tradition at National Bonds has transformed into an annual ritual that we now leverage to encourage the younger generation to save regularly. Through this initiative, we also help minors to better understand the value of money and educate them about securing a stable future for themselves, their families and society as a whole.”

He added: “Year on year, we are witnessing great improvement in the financial behavior of minors and young adults - who make up 50 per cent of the UAE population. They play a pivotal role in ensuring a bright future for the country and in helping to achieve its growth objectives. Initiatives like the UAE Youth Empowerment Strategy also motivate and drive responsible financial practices and active participation in programs that achieve sustainable growth and prosperity.

“At National Bonds, we believe that the family is a key pillar of our society and has the biggest influence in raising a responsible individual. We seek to raise awareness among families about the importance of bringing up their children with a culture of saving, and holding them responsible for their own budget management. This will educate them in optimally managing their finances and guide them in making mature spending decisions in the future.”

Notably, since its inception in 2006, National Bonds has distributed more than Dh124 million ($33.7 million) to minor bondholders.

National Bonds aims to raise awareness among all segments of society, regardless of nationality and age, about the importance of saving. In addition, the company provides its customers with tailored programmes to help them save on a regular basis. The Sanadi plan in particular, is an ideal option for families to secure a financially stable future through takaful coverage that provides protection for life, employment, and critical illnesses, among others.

National Bonds, which is licensed and regulated by the UAE Central Bank, provides UAE nationals, as well as residents and non-residents with a credible and safe savings opportunity. Minors can also own National Bonds provided the bonds are purchased by the parent/guardian. Each bond costs Dh10 ($2.7), with a minimum purchase option of Dh100 ($27.2). - TradeArabia News Service