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National Bonds, the sharia-compliant savings and investments schemes provider in the UAE, has announced that its savings and investments products provided up to 4% annual returns to customers in 2014, outpacing the returns provided by other competitive financial institutions in the UAE.
National Bonds revealed that its One Year Term Bonds offered 2.50% annual returns while the Savings Bonds provided 1.20% annual returns in comparison to other savings accounts in the UAE, according to WAM.
The longer the saving period for principal deposits held with National Bonds, the higher the annual returns. For instance, the total returns on saving for nine years with National Bonds amount to 56.81%, while saving for five years awards 13.82% in total annual returns. Savers investing AED100,000 and above enjoy 2.36% annual returns, while those saving amounts of AED10,000 and below receive 1.44% annual returns. National Bonds also offers the three year Step-up Bonds that provide an annual profit rate of 4%.
National Bonds is audited by the Dubai government’s audit department and is supervised by an independent fatwa and sharia supervisory board, in addition to external auditing entities.