Customers in Oman can now Use Xpress Money Platform to Make Remittances to National Bonds UAE

Muscat-Oman, 08 September 2013: Xpress Money, the world's most dependable money transfer brand, has announced its association with National Bonds Corporation (NBC), a unique UAE leader in Sharia compliant savings and investment schemes fully owned by Investment Corporation of Dubai.

The partnership facilitates Omani residents to remit funds to purchase National Bonds from all Xpress Money outlets across the country to benefit from the savings scheme's competitive annual profit sharing structure and its richest rewards program in the GCC. The savings scheme is sharia compliant and based on the Mudaraba principle.

With over 200 Xpress Money agent locations in Oman, NBC customers now have the privilege to plan their savings and investments at their convenience, without the hassle of visiting a particular location or travelling across the border to to make their remittances.

Commenting on this association, Giriyan, Vice President and Business Head, Xpress Money said: “It is Xpress Money's goal to facilitate savings and investment opportunities and our partnership with National Bonds is another step in this direction. We encourage our expatriate customers and their families back home to save and invest for their future. Our expansive network in Oman will offer utmost convenience to NBC customers in remitting their savings easily.”

Mohammed Qasim Al Ali, CEO of National Bonds Corporation, said: "We are pleased to offer the Omani people an easier way to invest with National Bonds. In addition to foraying into a new market that holds significant potential, the move has allowed us to come a step closer to our objective of supporting the communities in the GCC in financially securing their future. National Bonds is keen to meet the Omani community's expectations from long term savings and will strive to offer them a wide range of saving plans and rewards to grow their savings via its richest rewards program in the GCC.”

New Omani customers will be required to register and submit their statutory documents online. Registrants will receive a reference code via SMS onto their listed mobile number. They can then visit any Xpress Money outlet and make their remittances using the reference number. For subsequent purchases, bondholders will simply need to quote their account number to complete the transaction with Xpress Money.

The move comes on the back of phenomenal interest demonstrated by the Omani community in NBC's service offerings and the new structure of the rewards' program. Currently, over 11,869 Omani nationals have entrusted their savings with the scheme.

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, provided the bonds are purchased by the parent/guardian. Each bond costs AED10, with a minimum purchase of AED100.