National Bonds Announces High Uptake of Regular Savings Programs with 40,000 Account Holders Topping-upSavings in Three Months

Mohammed Qasim Al-Ali:UAE nationals and expatriates becoming betteraware of the importance of saving for a sound future

Dubai, UAE, June 6, 2016: National Bonds Corporation, the leading sharia-compliant savings and investments company in the UAE, has announced the success of its strategy to encourage regular savings inthe country as evidenced by therise in the number of regular savers with National Bonds as well as a greater demand to top up existing accounts. 

Latest findings from National Bonds indicated that between March 15 and May 19, some 40,000 account holders with National Bonds increased their savings balance to AED3,000and above.Indian expatriates represent the majority of National Bonds’ regular saving customers- with more than 10,200customers increasingtheir savings inthis period, followed by6,300UAE national customers.

Speaking on the numbers Mohammed Qasim Al-Ali, CEO of National Bonds, said: “These results reinforce that our strategic approach in inculcating a regular savings habit among the UAE community is proving effective. As a customer-centric company,our goal is to benefit our bondholdersthroughencouraging them to keep their savings accounts activeand enroll forour ‘myPlan’program. Besides inspiring customers to save on a regular basis, myPlan gives them more opportunities to grow their savings by winningspecially allocated prizes in monthly and quarterly draws. Our proactive efforts helpcustomers develop a regular savings habit to achieve financial independence.”

Al Ali added: “UAE nationals as well asexpats from different nationalities across the spectrum are todayincreasingly aware of the importance of saving and consequently, are more responsible with regard toachieving their financial well-being. The potential to saveranked high in 2015 onthe National BondsSavings Index - withsavings gaininggreater significance in people’s life across nationalities.

“Among savers in the UAE,the National Bonds Savings Index showed that52% Western expatriates are keen to increase their savings in 2016 compared to 68% Arab expats and 60% Emiratis. I believe the gap between the will to save and the actual saving behavior has definitely narrowed. We observedmany customers in H1 2016 topping up their savings.”

Al-Ali concluded: “The majority of people surveyed in the UAEbelievethat their savings are not adequate for their future,while 34% of savers claim tohave saved less than planned. I believe this dissatisfactionis a driving force toincrease savings on a regular basis. In the last three months, close to 3,000 National Bonds customers have joined the myPlanregular savings program - the majority of these customers areAsian with men dominatingwomen as regular savers.”

National Bonds offers UAE citizens, residents and non-residents a unique sharia-compliant savings program and financial products that help customers safely invest their savings with the aim of accumulatingand preservingwealth to achieve financial security and realizefuture aspirations.In less than one year, the myPlanprogram witnessed a surge of 83% in the number of regular savers.