DUBAI: National Bonds Corporation, the leading sharia-compliant savings and investments company in the UAE, has signed a strategic agreement with Aafaq Islamic Finance to promote the culture of saving amongst customers.
The agreement was signed by Sheikh Faisal Saoud Khalid Al Qasemi, Managing Director of Aafaq Islamic Finance, and Mohammed Qasim Al Ali, Chief Executive Officer of National Bonds Corporation, at the National Bonds headquarters in Dubai.
Under the agreement, the two companies will work to develop premium financial services for customers that will encourage them to adopt a sustained habit of saving.
Aafaq Islamic Finance will also leverage National Bonds’ electronic trading platform to enhance its sukuk trading services and support murabaha-based personal financing. In addition, Aafaq will have the option to place its treasury deposits in the long-term investment products offered by National Bonds.
Speaking at the signing of the agreement, Sheikh Faisal Saoud Khalid Al Qasemi, Managing Director of Aafaq Islamic Finance, said, “Spreading awareness about the culture of saving will serve the overall wellbeing of the members of the community and help them support themselves and their families.” Mohammed Qasim Al Ali, CEO of National Bonds Corporation, said, “Our efforts are designed to encourage more people from different segments of the society to adopt a financial plan for their future.
This agreement contributes to strengthening the position of sharia compliant financial products that are increasingly attracting customers across mixed income groups and nationalities.” He added, “National Bonds will provide innovative financial services in conjunction with Aafaq Islamic Finance. As part of the agreement, Aafaq Islamic finance will set up effective distribution mechanisms to ensure the availability of products and services to an even wider audience.” National Bonds is licensed and regulated by the UAE Central Bank and provides UAE nationals, as well as residents and non-residents with a credible and safe savings opportunity. Minors can also own National Bonds provided the bonds are purchased by the parent/guardian. Each bond costs AED10, with a minimum purchase of AED100.