3.54 % profit rate distributed by National Bonds for 2009

Published February 28th, 2010 - 07:51 GMT

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National Bonds Corporation PJSC has announced its annual 2009 profit rate of 3.54 % for its bondholders. The Profit Bonds for 2009 will be issued effective 1st January 2010. Over the last three years, NBC’s cumulative profit rate has been 16.64 %, which is among the highest payout in comparison to any other similar savings schemes in the UAE.

The 2009 annual profit rate reflects remarkable growth achieved by National Bonds Corporation PJSC during a very challenging year and brings down the curtain on a third successful year. With this performance, National Bonds has further enhanced its reputation as a “Household brand” offering a safe, rewarding and Sharia-compliant saving scheme.

In a reflection of its solid showing in 2009, National Bonds Corporation PJSC registered a 48 % growth in new savings deposits and saw its customer base increase by 8 % to 560,000 bondholders from over 91 different nationalities. As a result the Mudaraba Fund grew to AED 3.7 billion while new business sales of AED 2.5 billion were achieved. Statistics also show repeat purchases rose to 63 % underlining the loyalty, trust and confidence reposed by customers in National Bonds.

Announcing the annual profit rate for 2009, Mr. Mohammed Qasim Al Ali, Chief Executive Officer of National Bonds Corporation PJSC, said: “Since inception we have built a tradition of providing our bondholders with the best saving solutions. With this annual profit rate of 3.54 % combined with our largest prize draw of AED 60 million plus in the UAE, we have also kept our promise of offering the best returns to our bondholders even during a tough year in 2009. The cumulative profit rate of 16.64%, is ample testimony of our ability to meet our bondholders expectations over the last three years and for the future.

“Since 2006 National Bonds took the lead in promoting a culture of saving to encourage more people to save. In 2010, we will continue to focus on inculcating the savings culture while giving best value to our customers through innovative products and services. I am confident that National Bonds will further strengthen its position as “Everyone’s favourite place to save and invest”. We will ensure that bondholders continue to enjoy the experience of saving with us and reward themselves a lifetime of security and happiness”.

Mr. Louis Bruno Rochecouste, Chief Commercial Officer of National Bonds Corporation PJSC, added: “To live up to the expectations of its bondholders, the strategic focus of National Bonds in 2010 will be to further increase its market share, innovate and deploy the latest technologies in distribution and customer service; continue with its products enhancements and the rollout of new unique products envisaged for 2010 that will meet the different needs of our bondholders.”

“Furthermore, we also recently introduced the “National Bonds Individual Takaful Cover” as an appreciation of loyalty and added value to our eligible bondholders. This coverage is based on Shari’a-compliant takaful platform and is being provided to all individual bondholders from 12 months to 70 years old up to a maximum value of AED 125,000 which can be claimed by the family of the deceased bondholder. Currently more than half a million of our customers are benefiting from this “Takaful” coverage without any premium contribution.”

This cover is based on the Islamic insurance “Takaful” and managed by a Sharia compliant insurance company, Aman.