• Effective May 1, 2013, new structure doubles prizes to include special attention to Females, Minors and Regular Savers
• Monthly awards include AED1 million, two luxurious BMW cars, two gold bars and two student tuition fees
Dubai-UAE: April 22, 2013 - National Bonds Corporation, the unique UAE leader in Sharia compliant savings and investment schemes, today announced the launch of a new rewards structure effective May 1, 2013, offering all bondholders double the opportunities to win valuable prizes.
Titled “Enriching Lives Further”, the wider initiative that encourages the culture of saving across the UAE retains as its centerpiece the immensely popular one million dirham prize that is drawn in the first week of every month. The reward structure has been expanded to include double the number of weekly awards, which will be distributed across the two categories of UAE Nationals & Expats. These include two luxurious BMW cars and two gold bars to two female bondholders worth AED100,000. In addition, the new structure will provide two scholarships worth AED50,000 to two minor bondholders.
The new rewards program is the only one in the region that gives away one cash award every minute of every day. Of the corresponding 1,440 daily cash awards valued at AED50 each, 600 prizes will be reserved for bondholders in specific sub-categories: 200 for female bondholders, 200 for minor bondholders and 200 for those bondholders who save regularly via a direct debit arrangement with their respective banks or through their employers.
The new initiative will also benefit participants in the National Bond Employee Saving Program (ESP), which is a first-of-its-kind in the region. ESP enables participating organizations to provide their employees with a reliable payroll deduction platform for building their retirement funds.
Addressing a press conference, Mohammed Qasim Al Ali, CEO of National Bonds Corporation, said: 'The new rewards program is an outcome of the surveys conducted by National Bonds and is based on the priorities of bondholders such as children education, housing, retirement and marriage. Through the new system, we aim to link the rewards offered to our customers' aspirations in life. The new revised structure aligns more closely to the company's objective of reinforcing the habit of saving amongst the people of the UAE, and rewards more extensively those who save with us on a regular basis.”
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 AED10, with a minimum purchase of AED100.