• Home

National Bonds Dividend Record

Mohammed Qasim Al Ali, Chief Executive Officer, NBC, said the Corporation sold bonds worth Dh2.3 billion last year, reflecting an increase of 109 per cent over 2007.

In an interview with Khaleej Times he said the number of bondholders increased to 500,000 last year compared with 325,000 in 2007.

NBC announced 6.03 per cent annual return in 2007, which was double that of other saving accounts, Shariah-compliant banks or conventional banks.

Al Ali said with most of its returns accomplished in the first half of 2008, National Bonds was perfectly positioned to weather the global financial turbulence of the second half. The fund is mostly invested in local assets, he said.

Established in March 2006 as a private shareholding company, the Dubai-based NBC is a national saving scheme. The Government of Dubai holds a 50 per cent stake and the remainder is equally shared by Dubai Holding, Emaar Properties and Dubai Bank.

Al Ali said when making an investment people consider security of their funds and returns. “We at NBC provide both, security and high returns,” he said.

While companies worldwide are still calculating their 2008 losses, National Bonds can look back on a year of steady growth and minimal impact from the global financial crisis, he said.

“Against the backdrop of the current financial situation, Islamic financing has emerged as the safest way of investing, reinforcing NBC’s position as ‘Everyone’s favourite place to save’.”

National Bonds since its inception has accumulated around Dh4 billion from half a million customers.

Every year, profit made by the NBC is determined and 20 per cent of that is distributed amongst bondholders. Every month, a total of Dh5 million prize money is also awarded, with a top prize of Dh1 million.

abdulbasit@khaleejtimes.com

• UAE