National Bonds Corporation (National Bonds), the leading sharia-compliant savings and investment company in the UAE, has announced that it registered a 50 percent increase in the number of female regular savers in 2016 in comparison with 2015. In addition, the cumulative savings within the company’s various programs grew by 43 percent last year.
Currently, National Bonds has more than 32 percent female bondholders of whom approximately 20 percent are minors. Since the establishment of the company in 2006, 62 women – 30 UAE nationals and 32 expats – have won its grand prize draw worth AED1 million, making up 40 percent of the total 160 winners.
Mohammed Qasim Al Ali, CEO of National Bonds, said: “These figures reflect the increase in awareness within the UAE community, among nationals and expats alike, about the significance of financial planning and financial responsibility. The growth in the number of regular savers among our customers is an important indicator of the remarkable change in people’s financial behavior – they are increasingly recognizing their responsibility to build a better future for themselves and their families. This positive shift in overall financial culture translates into stability of society as a whole and supports the efforts of the government to achieve true sustainable development.”
He added: “The surge in the number of female savers indicates the extent of women’s contribution to economic activity and their commitment to their future through using saving as a tool to ensure financial health. Although the results reveal a disparity between the number of UAE national and expat female savers – 35 percent compared to 63 percent respectively – women still account for more than 32 percent of our total customer base.
“The UAE has made great strides towards women’s empowerment in education as well as in employment. Within the public sector, women currently represent 66 percent of the total workforce, while men account for just 44 percent. These statistics are only natural, considering that female graduates of higher educational institutions outnumber their male counterparts. Women make up two-thirds of public university students and half of private university students.”
Al Ali pointed out that in 2014, women contributed AED6.6 billion to the country’s economy. The UAE has a total of 22,000 businesswomen who collectively possess private investments valued at over AED45 billion. He noted that socio-economic development – the focal point of governmental strategies and plans – requires a transformation in the cultural and moral system of society as a whole. A truly evolved society will include individuals sharing fundamental values, ethics, and responsible investment behavior that lead to greater sustainability.
Aiming to raise awareness about the importance of saving among all segments of society regardless of age, gender, and nationality, National Bonds offers its customers tailored programs to help them save on a regular basis. The Sanadi plan in particular is an ideal choice for families that seek to ensure a financially stable future, as it combines saving with takaful protection that includes life, employment, and critical illness cover, among others.
In line with the directives of the wise leadership to position Dubai as the capital of Islamic economy, National Bonds provides UAE nationals as well as residents and non-residents with a range of trustworthy, safe, and sharia-compliant saving options. Even minors can own national bonds if their parents or guardians make the purchase on their behalf. Since its inception, National Bonds has distributed approximately AED 463 million in annual returns and prizes.