The United Arab Emirates Sharia-compliant savings and investment company, national bonds, owned by Dubai’s investment corporation (the investment arm of the government of Dubai), obtained excellent development in its investment in 2020, notwithstanding the coronavirus pandemic and its world economic results. Here is the complete guide that assets of national bonds increased to Dh8.8 billion in 2020. This progress is great because of the ingenious plans and services the company provides its bondholders.
The national bonds investments reached an exciting 13% growth to AED 8.8 billion in 2020, from AED 7.8 billion in 2019, as per the company’s numbers.
The boost in investment was not the only achievement of national bonds; the national company also preserved its preeminent place in returns to its stockholders last year.
It also proclaimed that those holding AED 1 million or more got the least interest in investment (ROI) of 2.95%, the most important area. During this, the current market EIBOR rate is 0.50% for one year.
Earning on holdings were as follows: those withholding from Dh 350,000 to Dh 1,000,000 earned a minimum ROI of 2.45%, with a minimum ROI of Dh 150,000 to Dh 350,000 earning a minimum ROI of 1.80%, was with Dh 100,000 to Dh 150,000 enjoyed one percent of the minimum ROI, while account from Dh 50,000 to Dh 100,000 reached a minimum ROI of 0.85%. Besides, bondholders also received an increased return on investment via the national bonds comprehensive reward program, which delivered a bang throughout 2020 (from Mudarib’s funds).
In addition to profits, the company’s regular savers increased by 21 percent year-on-year in 2020; digital sales through its increased mobile applications and website exceeded 217% from a year earlier. Since its beginning, the firm has disbursed 5.66 million prizes worth $ 658 million to ex-pats and UAE citizens.
The chairman of national bonds, Khalifa Al Daboos, revealed feelings of pride in these results. “Last year was full of difficulties confronting the globe, at least in the last few decades, with the COVID-19 pandemic, with borders restrictions and lockdowns in most countries,” he said.
Despite these difficulties, the organization has achieved remarkable extension due to its stable base for its development and sound approach. These results solidified our confidence in the brand and its leading role in the UAE and region industry. It will also boost our bondholders’ confidence to save with national bonds and stimulate those who have not yet started this journey so soon. He stated.
The national bonds are committed to diversification its investments and managing its wise approach, believing that it can deliver the best returns to bondholders with minimal risk, he said.
As for the influence of the COVID-19 pandemic on the gains rate, Al-Daboos said that globally sanctions positively impacted saving mode. “The rate of savings raised during this period,” he said. “Throughout the crises, especially where the end is unpredictable, individuals cut back on their expansion and started developing their crisis savings as a preventive for themselves and their families.
For this part, the Group CEO of National bonds, Mohammed Qasim Al Ali, supported national bonds for registering important development in several aspects. “It has been successful over the years to get the trust of people and institutional savers. The final year was no deviation: the company increased its investment by 13%,” he said. “This has helped more ex-pats and Emirati to embrace the habit of regular savings, that means enhanced bondholders’ confidence.”
This belief is because of the company’s policies and support, along with the leading and innovative programs is undertakes, to suit the changing needs of various people and the ambitious returns it delivers to savers, which are the greatest in the UAE market,” he added.
These all are unique achievements, but one that we are proud of is the 217% rise in the percentage of digital mobile sales, which has increased through the mobile app,” he said. “This figure indicates the company has arranged to face the toughest difficulty of its journey: technology and digital change,” he said. “The brand continues to begin, innovate and modernize to meet savers’ expectations,” he said. “The new programs are part of the strategy of the company to promote and offer proactive, unified, and secure savings solutions.”