“National Bonds” plans to introduce a savings fund for “end of service” benefits

Muhammad Qasim Al Ali, CEO of National Bonds, announced the upcoming launch of a savings fund targeting private end-of-service benefits. The fund is expected to be launched in the second quarter of 2024 pending necessary approvals from authorities such as the Ministry of Labor and the Securities Commission. Al Ali stated 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.

Meanwhile, National Bonds reported strong financial performance for the year 2023. The portfolio grew by 2% to 14 billion dirhams compared to the previous year, with sales increasing 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 receiving a total of 758 million dirhams in prizes.

Al Ali attributed National Bonds’ success to 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%.

In addition to its savings services, National Bonds also has a real estate development and investment arm called the National Real Estate Company. Al Ali recently announced that Tower B units at “399 Hills Park” project have been sold successfully, and Tower A will be added to its income-generating assets for leasing purposes. Two new real estate projects worth up to

By Riley Johnson

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