The National Sukuk Program

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National Bonds Corporation PJSC is a Sharia Complaint Saving Scheme, a Dubai-based private joint stock shareholding company that was established in March 2006 with a paid-up capital of AED 150 million. The Investment Corporation of Dubai holds 50% ownership in the company with each of its local shareholders, comprising Dubai Bank, Dubai Holding and Emaar Properties, holding 16.6% ownership each. As an investment company, National Bonds Corporation PJSC is licensed and regulated by the UAE Central Bank.

Sharia-Compliant

National Bonds Corporation PJSC is a Sharia compliant company, with a dedicated Sharia Board to oversee all financial aspects, including product-related operations and investments. The Sharia Board is chaired by Dr. Hussain Hamid Hassan, a leading Sharia scholar who is currently presiding the Fatwa and Sharia Supervision Boards of most Islamic financial institutions in the United Arab Emirates, and many others overseas.

Sound investment initiatives

National Bonds Corporation has invested in Taaleem PJSC, an initiative aimed at raising quality standards in the region’s education sector. It is the new brand for Beacon Education that aims to inspire young minds, and help them identify and develop their passions and talents. National Bonds Corporation has also invested in BCS, a Strata Management company specializing in property management, Souk Extra the retail community shopping chain with two branches (Ewan Resident- Dubai & Al Batheen- AlAin) , and in M’sharie, the private equity arm of Dubai Investments.

Strength

National Bonds Corporation PJSC offers the first Sharia-compliant product of its type in the world. National Bonds is the Sharia-compliant savings scheme of the UAE that provides competitive annual returns on savings and offers the added excitement of weekly and monthly prize draws. National Bonds is the innovative and most rewarding saving scheme in the region that offers the highest return against any comparable savings scheme offered by any financial institution in the UAE. Annual profit of 3.54% was declared for 2009 to its bondholders, which amounts a 16.64% cumulative profit rate over 3 years.

Financial Highlights

Bondholders enjoyed the highest growth of 16.64% in their profit rate over 3 years. Opportunity to win 22,250 prizes every month, i.e 5,135 weekly prizes and a monthly prize of AED 1 million on the last Saturday of every month. Total sales rose to AED 3.79 billion in 2009.

External links

• National Bonds - English homepage