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National Bonds draw on Saturday

By a staff reporter / 4 May 2006

DUBAI — The first draw of National Bonds will be held under the patronage of His Highness Shaikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, on May 6 at Dubai Financial Market at 7pm, according to an announcement of National Bonds Corporation (NBC) yesterday.

NBC will award prizes worth Dh 4 million to lucky bond holders. A total of 16,318 prizes will be given to randomly selected bond holders in Saturday's draw which will be attended by dignitaries.

The unique Shariah compliant saving scheme has been subscribed by over 70,000 people since it was launched on March 18, 2006. 

Nasser Al Shaikh, Vice-Chairman and CEO of National Bonds Corporation commented: "National Bonds are a global first. No other savings scheme is Shariah compliant while offering the subscribers  reasonable annual returns and the unique opportunity to win thousands of prizes. I wish all National Bond holders the best of luck and hope that Saturday's draw is the start of a long-term savings plan for all those who have invested in National Bonds."

The winning bond numbers will be generated randomly by a standalone computer, after which they will be compared in the order they are chosen against all eligible Bond numbers. Those  matching the drawn numbers will win prizes. Because the numbers are produced entirely at random, each Dh10 Bond has a separate and equal chance of winning one of the 16,318 prizes. The draw will be conducted by NBC under the supervision of the Dubai Department of Economic Development and observed by independent international auditors Ernst and Young.

National Bonds winners will be instantly notified via SMS after the draw with news of their winning bond numbers. All 16,318 winning bond numbers will be available on the National Bonds web site, www.nationalbonds.ae, under the Bond Tracker section, just two hours after the draw.

The winning Bond numbers will also be announced to the public on Monday 8th May in a local Arabic newspaper and a local English newspaper with prizes also announced on selected radio and TV stations.

 

 

 
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