Draft:National Bonds Corporation
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Last edited by Bearcat (talk | contribs) 38 days ago. (Update) |
 | |
| Founded | 2006 |
|---|---|
| Headquarters | Dubai, United Arab Emirates |
| Products | Savings & Investments |
| Website | [1] |
National Bonds, is a savings and investment company in the UAE. It is a private joint stock shareholding company, established in March 2006 with a paid-up capital of AED 150 million. [1]
About[edit]
National Bonds Corporation provides UAE nationals, UAE residents and non-residents with savings and investment solutions. Minors can also join National Bonds, provided the bonds are purchased by a parent/guardian. Each bond costs AED10, with a minimum purchase option of AED100.
In 2023 National Bonds' investment portfolio crossed Dh14 billion [2]
Ownership[edit]
National Bonds is 100% owned by The Investment Corporation of Dubai, the investment arm of the Dubai government and is a regulated financial institution.[3]
Audit & Sharia[edit]
National Bonds is Sharia compliant, with a dedicated Sharia Board from the Minhaj Advisory to oversee all financial aspects, including product-related operations and investments.
The Sharia Board is chaired by Sheikh Dr. Nazih Hammad Chairman of Minhaj Advisory Sharia Board and Sharia Supervision Boards of various Islamic financial institutions in the United Arab Emirates and overseas.[4]
Products[edit]
National Bonds offer savings & investment plans that are eligible for AED 35.5 Million worth of Annual Rewards.[5]
National Bonds products include:
- Savings Plans: Saving Bonds, Eyali (Junior Savings Plans), Tejouri, Gift Vouchers
- Regular Saving Plans: Regular saving options like myPlan, My One Million, Second Salary
- Objective based savings planssuch as an Education Plan
- Structured Investment offerings: Term Sukuk, Booster 10, The Payout
- Pension Plan product for companies to invest their employees end of service funds: Golden Pension Plan
- Treasury Solutions– Corporate Investment
- Charitable Product solutions: Sukuk Al Waqf, Sukuk Al Noor
Geographical Presence[edit]
National Bonds has 4 branches in the UAE, in Al Ain, Sharjah, Abu Dhabi & Dubai and also partners with a network of Exchange Houses such as LuLu Group International's Lulu Exchange]] to offer its services.[6]
Current leadership[edit]
The Chairman of the company is Khalifa Al-Daboos. Mr. AlDaboos also occupies other high profile positions including Deputy CEO of Investment Corporation of Dubai (ICD), a corporation mandated to supervise the investment portfolio of the Government of Dubai and Chairman of National Bonds Corporation PJSC.
Mohammed Qasim Al Ali is the Group Chief Executive Officer at National Bonds. Previously, he has held senior management positions in the Emirates Group and Dnata.
References[edit]
- ^ "About Us". National Bonds Corporation. Retrieved 24 February 2024.
- ^ "UAE: National Bonds announces highest-ever return on savings in 2023". Gulf News. 2024-04-02. Retrieved 2024-04-02.
- ^ "National Bonds Profile page on ICD Website". Investment Corporation of Dubai (ICD). 2024-04-24. Retrieved 2024-04-24.
- ^ "NBC SHARIA' BOARD". Al Manassah. 2024-04-24. Retrieved 2024-04-24.
- ^ "UAE: UAE National Bonds strategy targets savings boost with payments as little as $27 and $9.7m prize fund". Arabian Business. 2024-02-05. Retrieved 2024-02-05.
- ^ "UAE's National Bonds, Lulu Exchange ink strategic agreement". Gulf Business. 2024-01-01. Retrieved 2024-01-02.