- National Bonds Witnesses Surge in Millionaires, 292 Achieve Status in Q1 2024 Alone
- Post-Millennials in UAE Fastest to Reach AED 1 Million Savings, Defying Existing Stereotypes
Dubai, UAE, May 13th, 2024 – National Bonds, the UAE’s leading Sharia-compliant savings and investment company announced a significant milestone in advancing financial prosperity among UAE citizens and residents.
In the first quarter of 2024 alone, 292 customers attained millionaire status through saving with National Bonds. This achievement highlights an accelerated success rate, underscoring the effectiveness of the company’s innovative financial solutions.
The company’s recent data highlights a noteworthy trend: the post-millennial generation in the UAE is emerging as a beacon of financial prudence, actively saving for their future and defying stereotypes. Bondholders from Gen Z (born 1997-2012) exhibit remarkable financial discipline, becoming the quickest to amass AED1 million with an average duration of just 3.5 years, compared to the overall average of 4.2 years. Additionally, a commendable 34% of this demographic continue to engage with National Bonds, further strengthening their financial security.
The UAE’s millionaire population has increased by 77% since 2013 and is now home to 116,500 millionaires reflecting the nation’s commitment to fostering prosperity and financial growth. By providing initiatives like ‘My One Million,’ National Bonds offers a streamlined path to financial independence, contributing directly to the UAE’s goal of enhancing economic stability and prosperity. This program empowers individuals to achieve AED 1 million in savings through a combination of disciplined savings and cumulative profits over a predetermined period.
Rehab Lootah, Deputy Group CEO of National Bonds shares Insights
“Our mission at National Bonds is to provide a responsible, secure, and accessible pathway for all savers in the region to realize their financial dreams – and to reward their diligence through our comprehensive rewards program,” remarked Rehab Lootah, Deputy Group CEO of National Bonds. “As UAE continues to attract and nurture millionaires, we stand ready to support this momentum, aligning our efforts to make UAE a hub for realizing and creating wealth.”
“In addition to fostering individual prosperity, National Bonds is committed to enriching the broader economic landscape of the region,” continued Lootah. “By December 2023, the company’s investment portfolio had surpassed AED 14 billion (US$3.8 billion), establishing it as a trusted financial partner for both UAE nationals and residents.
With savings yielding returns of up to 5.84% in 2023, National Bonds consistently delivers tangible benefits, reinforcing its reputation as a dependable choice for savers. This milestone reaffirms the company’s dedication to providing a simplified and rewarding savings journey, tailored to the unique needs and aspirations of its customers.”
The notable rise in the number of millionaires further validates the efficiency of its customer-centric solutions and products in promoting financial empowerment. Looking ahead, the company remains resolute in its commitment to fostering a culture of financial responsibility and security, thus ensuring a brighter and more prosperous future for all UAE savers.
