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Business Home > Archive
 
National Bonds rewards its 100th millionaire

Abdul Basit / 9 September 2011

DUBAI — A dream of becoming a millionaire was turned into a reality in the UAE for 100 people in a short span of five years by National Bonds, the leading Shariah compliant saving scheme.

National Bonds has achieved another milestone in its five-year history by rewarding its 100th millionaire. S. Abdul Rahman, a UAE national, who won July’s 1 million dirhams prize, added a new chapter to the story of National Bonds’ life-changing one million dirhams grand draw.

The 100th millionaire is the third milestone for National Bonds in 2011. Earlier this year the company celebrated its fifth anniversary by launching a campaign titled “Wish, Save & Win”, which aimed to grant five ‘wishes’ to five lucky winners over five months. In addition, National Bonds achieved Dh1 billion in sales by the end of May, the second milestone of the year.

National Bonds’ initiatives, in addition to the company’s strategy of encouraging a savings culture in the UAE, have helped National Bonds become the biggest Shariah compliant savings scheme of its type in the world.

To-date, 39 per cent of National Bonds’ millionaires have been UAE nationals, highlighting the Emirati population’s trust in the growing scheme which hosts people from 200 different nationalities as its customers.

Asian expatriates have been similarly lucky with 36 per cent of the grand prizes going their way, while Arab expats make up a further 13 per cent of the lucky winners. Western Expats account for five per cent of the winning bondholders with the remaining seven per cent spread across various other nationalities.

“There are so many exciting stories to be told among our 100 National Bonds millionaires,” said Mohammed Qasim Al Ali, Chief Executive Officer, National Bonds Corporation.

Female bondholders won 37 of the one million prizes since National Bonds’ inception, eliminating the myth that savings are a husband’s responsibility. National Bonds has seen rapid growth in the number of female bondholders in recent years, and now counts over 32 per cent of women among its bondholders.

“The prizes we distribute have always been our way of rewarding our customers and making saving money an exciting experience for them. More so are the winners of our grand prizes, who become millionaires overnight,” Al Ali said.

By the end of July 2011, the company’s customer base had crossed the 630,000 customer mark, a growth of 4.26 per cent from the beginning of the year. To-date, it has changed the lives of hundreds of thousands of bondholders through its loyalty program of prizes and rewards with over one million prizes distributed worth over Dh280 million.These prizes come from the Mudareb’s own fund and are completely separate to the profit return that is distributed to all bondholders at the end of each year. In addition, the company has enhanced its distribution network with tie-ups with banks, exchange houses and Emirates Post Offices to nearly 580 outlets nationwide.

The popular one million draw takes place on the last Saturday of every month and is eligible for all bondholders with savings above Dh3,000, making it the lowest entry scheme in the market for such a reward. National Bonds is also the first scheme of its kind to reward 100 millionaires over the period of five years.

“It is with great pride and happiness that I look back at our achievements over the past five years, and making 100 dreams come true tops them all,” Al Ali said. “We work smarter to exceed our customers’ expectations thus increasing their attachment to the scheme. We continue to offer various innovative initiatives to provide them with a rewarding and seamless saving experiences – the million-dirham prize is one of the popular features of these initiatives but there are many more, such as the Employee Savings Scheme, US Dollar-Linked Sukuk and Standing Instruction Orders. We hope that all of these can help National Bonds achieve its vision of spreading a financially-fit lifestyle based on responsible savings across the region,” he said.

         abdulbasit@khaleejtimes.com

 

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