Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
National Bonds Breaks the Record with AED100 Million Growth in two weeks with New Rewards Structure
 

Dubai-UAE: June 12, 2013 – National Bonds Corporation PJSC, a unique UAE leader in Sharia compliant savings and investment programs, today announced bond sales of AED100 million in the first two weeks following the launch of the new rewards structure.

Rolled out on 1 May 2013, the new rewards structure has led to an upsurge in the number of bondholders. In the two weeks following the announcement, and with the introduction of prizes specific to female and minor  bondholders, the data indicated a 160% rise of female  bondholders, while minor bondholders witnessed an equally noteworthy increase of 117% within the same period.

Commenting on this growth, Mohammad Qasim Al Ali, CEO of National Bonds Corporation, said: 'The figures reflect the achievement of the new structure in attracting a greater number of savers from our community. It also confirms the success of our newly applied approach to encourage the general public to regularly save in their means of realizing a promising future. We are confident about witnessing further growth in the number of regular savers and investors from within and outside the UAE in the near future.'

Al Ali added: 'In addition to doubling the rewards, the restructuring was designed with the clear objective of stimulating parents to endorse and instill the habit of regular saving to ensure that their children are securely covered for their education cost until college graduation. Also, through the newly introduced structure, we sought to increase awareness on the importance of our Mudaraba Sukuk fund among both individuals and institutions. This will undoubtedly contribute to achieving the leadership's vision of consolidating Dubai's position as the global hub of Islamic finance.'

In mid-April, National Bonds Corporation announced the restructuring of its rewards program to give away attractive prizes to bondholders on a daily and weekly basis. The new structure continues the draw for the immensely popular one million dirham grand prize in the first week of each month. It also offers two women bondholders the chance of winning a gold bar in the second week each worth AED 50,000. The third week of every month gives away two luxurious BMW cars. In addition, the new structure provides tuitions worth AED 25,000 each to two lucky minor bondholders.

Unique to the region, the new rewards structure additionally offers one cash award every minute of every day. Of the corresponding 1,440 daily cash awards valued at AED50 each, 600 prizes are reserved for bondholders in specific sub-categories: 200 for female bondholders, 200 for minor bondholders and 200 for those bondholders who have a direct debit arrangement with their respective banks or through payroll deduction by their employers via the Employee Savings Scheme.

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.


Posted by : Dubai PR Network Editorial Team
Viewed 15244 times
PR Category : Banking & Investments
Posted on : Wednesday, June 12, 2013  3:56:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Standard Chartered named ‘Best Project Finance House in the ...
Next Story : Mashreq creates more Surprises for its cardholders during Du...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Add Extra Sparkle to Your Holidays With Make Up for Ever's 2020 Holiday Collection [8483-Views]
A Warm Summer Rain in Winter: The New Head Shower GROHE Tempesta 250 [5617-Views]
Schneider Electric Unveils New Sustainable Energy Products at CES 2021 [5420-Views]
Samsung Introduces Latest Innovations for a Better Normal at CES 2021 [5154-Views]
The Most Inclusive Range of Primers to Offer 24hr Correction for Any Skin Type, Any Skin T... [5031-Views]
The University of Queensland wins Ericsson Innovation Awards 2020 [4850-Views]
Canon Recognizes 3 Leading Photographers from the UAE, KSA & Jordan for their Ambassador P... [4789-Views]
Herbal Essences Taps into Nature's most Powerful Ingredients with the new Potent Aloe Vera... [4637-Views]
Unique Spatial Sound Technologies for Ambient Room-filling Sound with Sony's Latest Premiu... [4395-Views]
World Gold Council ETF 2020 Report and Gold Outlook 2021 [3764-Views]
Middle East Hotels Ready to Capitalise on Workation Trend, says ATM [3346-Views]
Hello 2021, HELLO, GOOD STUFF! with Essence [3227-Views]
Ogilvy Names James Kinney as Global Chief Diversity, Equity & Inclusion Officer and Chief ... [3161-Views]
Western Digital Delivers Unmatched Line Up of High-capacity Portable SSDS Across Its Renow... [3124-Views]
Giorgio Armani Collaborates with Parmigiani Fleurier to Create a Fine Watches Collection' [3112-Views]
Omega Dubai Desert Classic [3001-Views]
IRENA's World Energy Transition Day Kick-Starts Crucial Assembly Meeting [2870-Views]
SEHA Commences the Administration of the Covid-19 Vaccine to UAE Community at 40 Locations [2640-Views]
Sony Exhibits at CES 2021 [2636-Views]
Dubai Customs Gives Certificate Issuance Authorization to Registered Ducamz Car Dealers [2513-Views]
Dynabook Announces Arrival of New 11th Gen Intel® Core™ vPro Processors to Premium X Serie... [2374-Views]
‘Blue Zone' from COVID-19 Prime Assessment Centre to Relocate to Al Rowda Healthcare Cente... [2349-Views]
Kamal Vachani Announces Sri Lanka Food Festival at Al Maya Supermarket [2247-Views]
‘Educators without Borders' to cover South Asia in partnership with India's Ma'din Academy [2247-Views]
Jordan - Pfizer-BioNTech COVID-19 Vaccine Distribution Statement from UPS [2202-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories