• Sat. Apr 20th, 2024

National Bonds to Launch Savings Fund for Private End-of-Service Benefits in UAE: Portfolio Grows 2% and Sales Increase by 25% in 2023″.

BySamantha Jones

Apr 3, 2024
“National Bonds” plans to introduce a savings fund for “end of service” benefits

In the second quarter of 2024, National Bonds is set to launch a savings fund targeting private end-of-service benefits. The fund will be launched pending necessary approvals from authorities such as the Ministry of Labor and the Securities Commission. CEO Muhammad Qasim Al Ali announced this at a press conference, stating that a survey conducted by the company showed that 82% of employees in the UAE are in favor of employers investing in their end-of-service benefits, with around 6 million employees being targeted.

At the financial results announcement for the year 2023, National Bonds reported that their portfolio grew by 2% to 14 billion dirhams compared to the previous year. Sales also increased by 25%, reaching 6.4 billion dirhams. The value of distributions since the establishment of National Bonds reached 2.9 billion dirhams, with 219 winners of the Million Dirham Prize receiving a total of 758 million dirhams in prizes.

Al Ali highlighted the strong performance of National Bonds in 2023, attributing it to a growing awareness among citizens and residents about the importance of saving, especially after the Covid-19 pandemic. The number of new investors increased by 215%, monthly savings by 122%, and women’s participation in savings programs by 87%. The highest annual investment return for clients was recorded at 5.84%.

The real estate development and investment arm of National Bonds, the National Real Estate Company, has successfully sold all units in Tower B of the “399 Hills Park” project. Tower A will be added to the company’s income-generating assets for leasing purposes. Additionally, two new real estate projects with an investment value of up to

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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