Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Save and be saved with National Bonds  Join our daily free Newsletter

MENAFN - Khaleej Times - 11/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) As much as its clients see a brighter future thanks to its savings programmes, National Bonds Corporation is looking at a similar prospect as it looks to further advance its growth this year, riding high on a very encouraging 2013 and positive sentiments in the UAE and the wider region



The company, a pioneer via its first-of-its-kind Shariah-compliant Mudaraba-based savings scheme, plans to rev up its focus on educating the public and raising awareness on the importance of saving up for the future, its top official said



"We believe such awareness will lead to the community adopting an even more regular habit of saving and making it an integral part of their everyday lives," Mohammed Qasim Al Ali, chief executive officer of National Bonds Corporation, told Khaleej Times in an interview



"This will ensure the fulfillment of our mission to offer a secure, rewarding and memorable savings experience for the community.



Al Ali, appointed CEO in 2008, is at the forefront of National Bonds' growing portfolio of enterprises, as well as the development of innovative savings schemes



So far, all of his efforts have paid off; not only for the corporation, but more importantly for its clients



"We have created a wide range of diverse tools to encourage our bondholders to develop a savings habit," he said. "We have observed a significant increase in the number of people that showed interest in our savings programmes [last] year compared to 2012.



National Bonds' total percentage of bondholders reached a seven per cent increase in 2013 compared to the previous year. And to make it sweeter for everyone, the company gave away over 510,000 prizes last year



"We are very optimistic about sustaining and advancing our growth curve in 2014. [Last] year showed potential and helped in fulfilling our initial vision of inculcating a savings culture in the region," Al Ali said, pointing to two major factors influencing National Bonds' bullishness: more positive growth in store for the UAE and Dubai's victory in World Expo 2020







Making it bette



One of National Bonds' strategic goals is its commitment towards improving the savings culture in the UAE. Last year was a very productive year for the company, and 2014 will see more initiatives come to fruition



While developing strategies is one thing, implementing these is another; National Bonds has periodically conducted surveys to identify people's attitudes towards achieving the objective of instilling a savings culture in them. It launched the National Bonds Savings Index in 2011 with the aim of providing a comprehensive study on the saving and spending habits of people in the GCC, which highlighted that the primary factor taken into consideration when choosing a savings instrument was its conformity to Shariah principles



"These surveys help up gain an understanding of what obstacles people face in developing a regular savings habit," Al Ali said. "Based on the feedback we received... we decided to shift the focus of our rewards structure towards helping our bondholders fulfill their needs in 2013. This small step has helped us reap rich dividends.



And thanks to the index, National Bonds has several initiatives in the pipeline. Al Ali says that the company is confident that the index will stimulate public opinion and encourage organisations to seek solutions for developing a sustained savings habit among employees



"It has been equally gratifying to hear from our customers that the new structure has helped them achieve their dreams. Other strategies such as the financial well-being initiative, as well National Bonds' participation in the country's prominent human resource summits have helped us promote our ongoing Emiratisation drive and internal CSR initiatives and employee savings programmes across the UAE.



Al Ali pointed out that National Bonds is planning to improve its Employee Savings Programme and promote in consistently throughout 2014, "to make sure that the majority of the UAE's employees save for their future well-being and for their families"



"We were happy to partner with a number of private and public organisations that went the extra mile with us through our Employee Savings Programme," he said. "It helped their employees plan their financial affairs; the direct salary deduction initiative helped in spreading the savings culture, which had a positive impact on the economic health of the UAE.







Simple reminder



As with any other activity, saving up is an exercise in responsibility and discipline. Al Ali, having the expertise of the ins and outs of it, offered some advise



"To build financial responsibility and security, you must first know how much money you have coming in and how much you have going out. The 'going out' must include your own savings. Listing your savings as an expense, just as you would any other bill, is a great way of enforcing the habit of saving and incorporating it into your monthly expenditure," he said



"Ideally, a person should save a minimum of 10 per cent of their monthly income and have at least three months of salary in their bank accounts. Unfortunately, most people are not consistent about following such margins. So 10 per cent may be unrealistic, but the important point is to start with something. Saving is usually easier than it seems once you set your mind to it.



He stressed that one of the most common mistakes committed is "living in an illusion of financial security", and the lack of proper planning as a result



"The truth is we never know when we may lose our jobs or when economic crises might strike again. When we are faced with such situations, the brighter picture would be to have enough savings to guarantee a decent living standard, as opposed to realising that we are left not only penniless but also in debt," Al Ali said



"Think of your goals, especially the long-term ones. Whatever they are, you will reach them sooner by starting to save now. Saving not only helps fulfill your responsibilities to yourself and family, it also builds security and ensures your peace of mind.

 


Khaleej Times




  MENA News Headlines
 Dec 17 2014 - Racers heat up engines for 2nd 'Kuwait mile' rallyArab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 16 (KUNA): Kuwait is scheduled to witness on Friday and Saturday the second 'Kuwait mile' auto and motocross rally with participation of national champions and ...

 Dec 17 2014 - No need to change OPEC decision-Kuwait ministerArab Times
(MENAFN - Arab Times) KUWAIT CITY Dec 16 (AFP): Kuwait's oil minister said Tuesday that OPEC should stick by its decision to maintain production levels despite sliding prices as Brent crude breached ...

 Dec 17 2014 - Market volatility a major challenge to gas producers: Al-SadaGulf Times
(MENAFN - Gulf Times) HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada on Tuesday said the major challenge facing gas producers was the "increasing volatility" of the energy market ...

 Dec 17 2014 - Profit booking leads Qatar shares to shrink 3.5%Gulf Times
(MENAFN - Gulf Times) Qatar Stock Exchange was on Tuesday gripped by profit booking, especially in the telecom, real estate, consumer goods and transport stocks, leading to a 403 points fall in index ...

 Dec 17 2014 - Qatari family firms set to be key driver of GCC growth: ReportGulf Times
(MENAFN - Gulf Times) Qatari family firms are set to be the key driver of the GCC growth in 2015, says a new research report, which estimates that family firms outperform non-family firms by an ...

 Dec 17 2014 - Qatari women enjoy 'strong, growing presence' in businessGulf Times
(MENAFN - Gulf Times) More Qatari women have proven their efficiency in dealing with big-ticket investment projects by permeating major fields in the country's business sector, Qatari Businesswomen ...

 Dec 17 2014 - FIFA rejects Garcia appeal over corruption reportGulf Times
(MENAFN - Gulf Times) FIFA on Tuesday rejected an appeal by former US prosecutor Michael Garcia against the handling of his inquiry into alleged corruption around the Russian and Qatar bids for the ...

 Dec 17 2014 - Juventus, Napoli to arrive on Friday for Super Cup tieGulf Times
(MENAFN - Gulf Times) Juventus and Napoli teams are set to arrive in Doha on December 19 for their 2014 Italian Super Cup match, the Organising Committee announced yesterday.The committee also ...

 Dec 17 2014 - Super Cup Trophy continues journey to QF Recreation ServicesGulf Times
(MENAFN - Gulf Times) The Italian Super Cup TIM trophy tour continued its journey to the Qatar Foundation Recreation Services to celebrate the Official Opening of the West Green Spine, a brand new ...

 Dec 17 2014 - Senna rides Al Atique to Qatar National Day Trophy victoryGulf Times
(MENAFN - Gulf Times) Julian Smart trained Al Atique (Amer-Somra) thwarted the late challenge of Vetlana De Faust and stable mate Aziz Al Shahania to win the QR 400,000 Qatar National Day Trophy, a ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help