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“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, pending approval from authorities such as the Ministry of Labor and the Securities Commission. Muhammad Qasim Al Ali, CEO of National Bonds, announced this during a press conference while presenting the financial results for 2023. According to Al Ali, 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 same press conference, 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 attributed National Bonds’ strong performance in

By Samantha Jones

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