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Dubai: National Bonds Corporation, a Sharia-compliant national savings scheme of the UAE, on Tuesday reported 6.03 per cent annual profit in 2007, which would translate into even higher profit entitlement for those holding bonds for a few months in 2006.
Nasser Bin Hassan Al Shaikh, vice-chairman and CEO of National Bonds Corporation, said that people of all nationalities have received the savings scheme with enthusiasm since its launch.
"Thanks to the support of our bondholders, who have now grown past 325,000 in number, total bond sales currently stand above Dh1.7 billion. Our annual profit rate of 6.03 per cent is higher than that of any other comparable savings product in the market. This is in addition to the monthly prizes worth Dh5 million. Our investment and development initiatives have also evoked good response, which in future will translate into more revenues," he said.
Since its launch, National Bonds has initiated and promoted various investment opportunities offered exclusively to its bondholders through its real estate arm, National Properties. These include Skycourts, a medium income targeted freehold residential development comprising over 2,300 apartments.
Madaares, an educational initiative launched by National Bonds to raise the level of primary and secondary education in the region, is now consolidating its position through high-profile acquisitions and partnerships.
"We will explore more strategic alliances and distribution channels to bring National Bonds closer to a wider audience through expanding the existing network of nearly 300 distribution outlets. A loyalty scheme to offer more value for our bondholders is another offering under study," Al Shaikh said.
Since its launch, National Bonds has initiated and promoted various investment opportunities for its bondholders.
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