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Saturday, December 9, 2023

Astra Tech and National Bonds to bring in Sharia-compliant savings


Astra Tech, a leading consumer technology holding group, has signed a Memorandum of Understanding (MoU) with National Bonds to bring Shariah-compliant savings and investment opportunities to millions of Botim users.

The partnership will enable Astra Tech’s clients to access through Botim a microfinance option designed for low to moderate income individuals and supported by National Bonds’ ‘Al Manassah’ platform.

The platform will provide convenient, transparent digital solutions for businesses and individuals in the UAE looking for Shariah-compliant asset-backed financial solutions and end-to-end automation.

Financial status

Additionally, clients will have the opportunity to invest in preservation certificates through Botim, a platform with 10 million active users in the UAE and 150 million users worldwide. This partnership offers Astra Tech customers exciting opportunities to improve their financial health and grow their savings.

Abdallah Abu Sheikh, CEO of Astra Tech and Botim, said: “We are delighted to join forces with National Bonds to bring Shariah compliant investment opportunities directly to our massive user base of over 150 million.”

He continued: “Through this partnership, we are expanding our services and enabling our users to invest and save conveniently – two elements of finance that have always had high readiness in the region. Barrier to entry, but we’re slowly changing that for the better. Through the power of Botim, individuals can now easily access and explore a wide range of investment opportunities, paving the way for a more secure and prosperous financial future. “

financial prosperity

Mohammed Qasim Al Ali, Group Chief Executive Officer, National Bonds, said: “This is fully in line with National Bonds’ strategic vision to foster partnerships with domestic companies. This strategic approach not only enables us to actively contribute to a future of financial prosperity and security for UAE citizens and residents contribution, and allows us to reach a wider audience. Through our various programs and solutions, we aim to amplify our impact and benefit a wider range of individuals.”

Through this unique collaboration, Botim is revolutionizing the way individuals in the UAE save and invest, making it more convenient than ever. By joining forces with National Bonds, Astra Tech reaffirms its commitment to empowering individuals and simplifying everyday life. Together, they are taking the UAE’s digital ecosystem to new heights, ensuring a Shariah-compliant future of saving and investing is accessible to all. — trade arab news agency


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