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National Bonds, the UAE’s Shariah-compliant savings and investment company, is having another strong year, with a portfolio soaring to AED13.7 billion ($3.7 billion) by 2022, up 15% from the previous year.
Customers’ financial wellbeing continues to grow through National Bonds thanks to its wide range of savings and investment solutions that support their future financial goals, such as emergency funds and children’s education.
Positive customer experiences are also driving investment growth in 2022, with flexible and convenient solutions improving their returns and savings value.
Excellent growth in national bonds in 2022, both personal and institutional, and decent returns for bondholders. The company’s performance is an important indicator of growing customer confidence, making it the North Star of the UAE’s savings scene. This is achieved by guiding customers through different solutions and realigning their saving behaviors to sustainable practices.
digital success
Given that national bond success is also measured by the remaining competitive yields rewarded to clients, returns of up to 5% in 2022 are among the highest in the UAE.
62% of customers have been with National Bonds for more than 10 years, demonstrating their long-term loyalty, contributing significantly to growth of 15% in 2022.
In addition, the organization’s rewards program is the largest in the country with bonuses of up to AED 35 million, further rewarding customers for their savings. For example, 66% of national bond term savers see significant increases in average returns in addition to 2022 profits.
growth drivers
The strong growth in 2022 is due to several groundbreaking ideas and solutions such as Golden Pension Plan, Global Savings Club and Sukuk Al Waqf.
Golden Pension Plan utilizes National Bonds’ financial planning solutions for nationals and residents to meet the growing needs of employers and employees.
The program is seeing positive engagement and growing wholesale trends, which is reflected in demand from employers to enroll employees, as more than 10,000 employees are currently enrolled in the program. Employers are also reaching out to the Golden Pension Plan to explore its new solutions, which has culminated in a change in mindset among employees, terminating the plan early for their services.
all market segments
Khalifa Al Daboos, Chairman of National Bonds, said: “In 2022, National Bonds continues to engage all sectors of society through the various solutions it offers them. This strengthens the confidence of our clients, stakeholders and communities in National Bonds, reflecting the There has been a clear shift in mindset towards savings habits. The results also show resilience in the wake of the Covid-19 pandemic and its global economic consequences. It is reassuring to see our track record of continued growth since 2006.”
“National Bonds remains steadfast in its goal of providing clients with a diverse range of programs, services and guidance to achieve greater financial stability, as evidenced by our performance in 2022. National Bonds will remain a key player in its client happiness and A major contributor to prosperity in the UAE, we help secure the future of savers and their families through our innovative savings solutions,” he added.
“The growth in saving over the past few years shows a significant shift in saving culture to become an everyday behaviour, with more than 196,000 transactions made to date,” he said.
savings behavior
Congratulating all savers in 2022, National Bond Group CEO Muhammad Qassem Ali said: “Our organization encourages saving behavior through flexible solutions and incentives.”
“There is a strong demand in the market for flexible digital savings plans. As a result, Treasury continues to develop more innovative solutions in 2023, such as Level Up and Second Salary. These solutions will encourage consistent saving habits and improve our customer experience , including UAE nationals and residents, work with us to plan for their future. Our evolving and sustainable solutions support our clients in preparing for emergencies and subsequently supporting them to retire comfortably,” he added.
“I’m also pleased to mention that national bonds have been shown to increase inclusion, with a 14% increase in women’s portfolios by 2022,” he said.
digital savings
Growth in 2022 was also driven by continued digital transformation for seamless customer engagement, resulting in a 120% increase in digital savings last year compared to 2021. This is achieved through various convenient enhancements such as instant account opening and interactive services to bring fun to the digital preservation process.
Since its inception, National Bonds has created 206 millionaires and distributed approximately AED 2.47 billion in returns, with bonuses totaling over AED 731 million. — trade arab news agency
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