National Bonds instills savings culture in UAE youth
Campaign includes major sponsorship of Skiboard World Cup 2008
National Bonds, the Sharia-compliant national savings scheme of the UAE, recently launched a nationwide awareness campaign encouraging young people to think about savings and investments. As part of the activities lined up for its month-long campaign, National Bonds will support various sports and leisure events involving youngsters. This also includes the upcoming Skiboard World Cup 2008 Championship, which begins on May 22, 2008.
According to Mohammad Qasim Al Ali, CEO of National Bonds Corporation, this campaign stems from the growing economic significance of the UAE’s under-25s. “Youth now account for 58 per cent of the Emarati population and are fast-emerging as a new class of decision makers. About 27 per cent of our bond holders are within the age bracket of 16-25 years, “ he said.
Al Ali added, “We felt the need to educate young people on how to become financially independent. Our aim is also to help them become intelligent and informed participants in the UAE economy. In the long term, by teaching them how to save and invest with a simple and safe savings option such as National Bonds, we hope to help the younger generation achieve their goals and dreams.”
As part of the activities lined up for the Ski Board World Cup 2008 Championship, National Bonds will set up a special kiosk at Ski Dubai, Mall of the Emirates. The tournament will showcase 16 international teams, including the UAE expats team, competing for top honours in a race down the world’s longest indoor ski slope.
National Bonds also recently sponsored another world-class event, the 24th Asian Snooker Championship. “We are increasingly supporting these international events, which allow us to show how sports and financial services can combine to build the character of our upcoming generation,” Al Ali said. “Sports help to instill key values such as strength, independence, passion and responsibility. As everyone’s favourite place to save, National Bonds will definitely appeal to the UAE youth as they can now associate it with the exciting world of sports.”
With no income or job requirement, young people in the UAE can purchase bonds on the National Bonds website or at 300 outlets nationwide, comprising exchange houses and banks. These include Emirates Islamic Bank, Dubai Islamic Bank, Sharjah Islamic Bank and exchange houses Al Ansari, Al Fardan, Al Ghurair, Redha Al Ansari, Al Rostamani International, UAE Exchange, Wall Street and Lari Exchange. With over 420,000 bondholders with youth comprising 27 per cent, National Bonds wants not only to be seen but experienced as everyone’s favourite place to save.
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About National Bonds Corporation:
A private shareholding company, National Bonds Corporation (NBC) is a Dubai-based entity that was launched in March 2006. The Government of Dubai holds a 50 per cent ownership in the company with each of its local shareholders, comprising Dubai Bank, Dubai Holding and Emaar Properties, holding 16.6 per cent ownership respectively. National Bonds Corporation is Sharia compliant, with a dedicated Sharia Board to oversee all financial aspects, including product-related operations and investments.
Since its launch in 2006, National Bonds has come up with various successful initiatives in community development. In December 2006, it launched “Skycourts,” the elegant and affordable freehold residential community in the heart of Dubailand Residence Complex. In 2007, National Bonds launched National Properties, a wholly owned, full-service real estate subsidiary that offers distinctive homes and lifestyle options to the multinational UAE community. They also launched Madaares PJSC, an initiative aimed at raising quality standards in the region’s education sector. Madaares has acquired Taaleem and its associate Beacon Education, a leading provider of high-end primary and secondary education in the Gulf region consolidate its position in the fast-growing education sector
