A team of students from University of Dubai’s College of Business Administration (CBA) presented the results of a market research study on the savings behavior of UAE nationals and was commended by senior management of National Bonds Corporation (NBC), who also expressed a willingness to work with the team to implement their findings and recommendations.
The team, consisting of University of Dubai (UD) students Hamed Al Aqili, Ahmed Al Jaziri, Asia Ahmad, Haitham Al Maani and Tamara Amad, presented the report titled, “How To Influence the Savings Behavior of UAE Nationals” to Mohammed Qasim Al Ali, CEO; Saif Ali Al Shehhi, Executive Director; and other top department heads.
The survey was conducted by the group over a three-week period targeting a diverse sample group of UAE nationals. The project revolved around a challenge posed by NBC: “Carving the way for a better financial future for UAE nationals, how National Bonds Corporation can influence the savings behavior of the UAE national and help them plan for their financial future through regular savings.” The students visited malls, universities, government offices and agencies, banks and other private offices to survey more than 300 people.
Hamed Al Aqili, who headed the presentation, commented, “It was very good exposure for us and we are pleased by the support shown by the management of National Bonds Corporation. The key element of our project is to determine the level of awareness of UAE nationals on the importance of regular savings. Now that we have gathered the facts the next step is implementation, so I hope we can work with NBC to get results that will be productive for the company.”
Mohammed Qasim Al Ali, CEO, said, “It was a fabulous presentation and we want to congratulate the students from the University of Dubai for their hard work. The project addressed all the key areas that we wanted to identify. Now the question is how they can help us implement the recommendations? We can work out a detailed plan and this can be a project team for both UD and National Bonds.”
The team was also awarded certificates after the presentation held at the National Bonds office. Dr. Eappen Thiruvattal, Dr. Rahim Hussain and Dr. Yaprak Anadol from UD’s College of Business Administration were also present to support the team and answer any questions posed by National Bonds Corporation management. The three professors agreed these types of projects expose the students to real-world market research and, by giving them the opportunity to interact with large corporations and upper management, they gain valuable experience that will help prepare them for their own career after graduation.
Dr. Thiruvattal, Chair of UD’s Department of Marketing and Logistics, was very pleased with the outcome of the presentation and the positive reception by NBC management. “The next step is to work with NBC to implement a plan that addresses what the study has revealed,” he said. “The study has a lot of implications in regards to the saving habits of the UAE society and I think by working with NBC, we can help to implement a plan that will ultimately strengthen UAE society and the nation as a whole.”