Distinction Recognises Success of NBC’s ‘Financial Well-Being Program’
Dubai-UAE: 29 April, 2014 – National Bonds Corporation (NBC), the leading sharia’a-compliant savings and investments company in the UAE, has been named one of the three recipients of the ‘Best Idea of the Year Award’ for 2013’ at the ninth Annual International Conference organized by the Dubai Quality Group.
As a top performing player in the financial landscape that boasts some 120 institutions in the UAE, National Bonds Corporation won the gong in the ‘Ideas’ segment for its Financial Well-Being program, which promotes a culture of savings among diverse social groups through hosting awareness campaigns, workshops and free educational sessions.
Mohammed Qasim Al Ali, CEO of National Bonds Corporation, said: “National Bonds Corporation has succeeded in changing the lifestyle of many individuals, employees and particularly low-income earners through its low-risk savings instruments. Winning this award validates the success of our Financial Well-Being Program in providing individuals and institutions with practical solutions to help them achieve sound financial health.
“The 2013 Savings Index conducted by National Bonds Corporation revealed that 87 percent of UAE residents felt their savings were inadequate for the future. Through initiatives such as the Financial Well Being program, NBC is committed to reversing this trend and empowering a larger cross-section of the society to adopt sustained savings habits.”
The Financial Well-Being program has been designed as an integral part of the company’s strategy in assisting and supporting individuals with managing their spending habits. The program has generated widespread attention among the private and public sectors, following the launch of the Employee Savings Program (ESP), designed by National Bonds Corporation.
The ESP helps employees to build up their retirement pool by adopting a savings culture through direct monthly deductions from the employee’s salary. More than 50 companies, including government sector organizations, currently subscribe to this program that has drawn the participation of hundreds of employees in the free workshops offered.
National Bonds Corporation boasts a subscriber base of 750,000 customers from 200 different nationalities. NBC recently won the gong for ‘Best Savings Account for 2014’ at the Banker Middle East Product Awards, hosted by publishers CPI Financial, which recognizes innovative and high performing banking and financial products and services.
National Bonds, which is licensed and regulated by the UAE Central Bank, provides UAE nationals, UAE residents and non-residents with a credible and safe savings opportunity. Minors can also own National Bonds certificates, provided the bonds are purchased by their parent/guardian. Each bond costs AED10, with a minimum purchase option of AED100.