Mohammed Qasim Al-Ali: Educate children and raise awareness about saving.
Dubai, UAE, May 2, 2016: National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investments company in the UAE, has purchased 1,000 copies of the book titled ‘UAE Old and New Money’ written by Khadijah Kudsi and Dr Sarah Mavrinac. The book will be introduced to visitors at the upcoming Abu Dhabi International Book Fair – to run from April 27 to May 3, 2016.
Through its endorsement and promotion of the book ahead of its launch, National Bonds seeks to educate children and offer them a playful and entertaining narrative about the importance of saving and the value of money, while also providing key insight into the UAE’s currency.
Mohammed Qasim Al-Ali, CEO of National Bonds, noted that according to a recent survey by the Arab Thought Foundation, the average reader in the Middle East spends only six minutes a year with a book – an astoundingly low percentage when compared to other countries worldwide.
To counter such dismal figures and promote a love for reading among children, in line with the Arab Reading Challenge launched in September 2015 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, National Bonds is encouraging children to read and actively partner the nation’s leaders in their efforts to shape a knowledge economy.
Al-Ali said: “At National Bonds, our goal is to strengthen the savings habit in the UAE. We strongly believe that our children should have access to books that reflect the true history, socio-economic scenario and culture of the country. Our endorsement of this book stems from our strong conviction that financial literacy should form a fundamental component of any modern education system. The ability to use knowledge and skills to make effective and informed money management decisions is crucial learning. Through teaching our children this skill, we help them discover the vital link between earning, spending and saving.”
Al-Ali added: “We hope reading and understanding some of the core elements of finance that the book promotes will ensure children are better equipped to develop into responsible adults that can manage their wealth more effectively.”
In a bid to encourage individuals to adopt regular savings plans to safeguard themselves and their families from future contingencies, National Bonds closely examines savings habits among members of the community through its National Bonds Savings Index.
Assessing the commitment of nationals and expatriates towards identifying a savings plan that is best suited for their needs and developing a regular savings habit, the National Bonds Savings Index 2015, indicates that 63% of savers plan to increase their savings. It also shows that 84% of all respondents think their savings are not enough for the future - highlighting that savers are more aware of the importance of saving with every passing year.
National Bonds offers UAE citizens, residents and non-residents a unique sharia-compliant savings program. Parents and guardians can buy bond certificates or sukuk for their children or minors. Bond certificates are priced at AED10 each, with bondholders required to purchase a minimum AED100 worth of the certificates.
According to Al-Ali, in 2015 the number of minors enrolled in the program increased by 99%. Moreover, in 2015 the company witnessed a 95% increase in the number of regular minor expat savers.
National Bonds offers innovative and sharia-compliant programs that help customers safely invest their savings while also giving them a chance to win rewards in addition to competitive annualized returns.