Takaud, a specialist provider of savings, investment and pension solutions in the Mena region, has launched Tawfeer, a first of its kind savings plan in Bahrain and the GCC.

Tawfeer provides retail customers with access to Takaud Bond Strategy, which comprises national bonds issued by Bahrain.

The plan aims to provide savers with competitive, superior returns, and is available through lump-sum investments or through monthly contributions of as little as BH30. With Tawfeer, all investors in Bahrain, whether as citizens or expatriates, can now invest locally, instead of in companies and investments abroad, the statement said.

The bonds underlying the Takaud Bond Strategy were previously available only to those making large investments. Takaud’s goal in creating Tawfeer is to provide an opportunity for all the people of Bahrain to have a savings plan with stronger returns than traditional bank accounts and other comparable saving instruments for the retail savers, the statement said.

Tawfeer and the Takaud Bond Strategy are designed to help investors protect and grow their investment, which is especially important for long-term savers and investors, it said.   

The Takaud Bond Strategy is a diversified portfolio of high-quality Bahrain bonds, treasury bills, money market instruments and Sukuk. The plan and the strategy are available to everyone and are designed to meet the needs of individuals and institutions seeking a steady return on investments over time. It aims to provide an average annual yield of 5 per cent approximately (estimated, and not guaranteed).

Takaud CEO Luc Métivier said: “Takaud is pleased to have created an innovative savings solution for our customers that provides the opportunity for a high and steady return. As a Bahraini savings and pensions firm, we are proud to have made the local financial instruments a key part of the investment options we make available to our clients.”

Métivier added that Takaud hopes that the launch and growth of Tawfeer Savings Plan will promote domestic retail participation in sovereign bonds. The Tawfeer Savings Plan and Takaud Bond Strategy are available now, directly from Takaud. - TradeArabia News Service