National Bonds, the Sharia compliant national savings scheme of the UAE, has launched its School Achievement program with the aim of educating students about the benefits of adopting good savings habits at an early age.

This program will award top performers from each school with National Bonds Gift Vouchers on achievements in academic pursuits, art, languages, sports and community work on an annual or a midterm basis.

On receiving the National Bonds Gift Vouchers, the students will also have the opportunity to participate in the National Bonds weekly prize draws of 101 prizes with the top prize being of Dh1 million ($272,248) and the remaining 100 prizes from Dh500 to Dh10,000 amounting to an impressive Dh1,155,000 in total prizes awarded each week.

In addition they will also receive annual profits that are distributed to bondholders at the end of every financial year. In 2008 the profit was 7.07 per cent from 6.03 per cent in 2007, achieving the highest profit against any comparable savings scheme offered by any financial institution in the UAE.

“In establishing a firm foundation of saving amongst the UAE population, it is fundamental that we instill in our youth an understanding of the combined importance of a good education and the role of saving in building financial security and achieving aspirations,” said Mohammed Qasim Al Ali, CEO of National Bonds Corporation.-TradeArabia News Service