UAE: National Bonds creates 3,770 millionaires since inception

Post-millennials in UAE fastest to reach Dh1 million savings

National Bonds, the UAE’s leading Shariah-compliant savings and investment company, announced that in the first quarter of 2024 alone, 292 customers attained millionaire status through saving with National Bonds.

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 Dh1 million with an average duration of just 3.5 years, compared to the overall average of 4.2 years. Additionally, a commendable 34 per cent of this demographic continue to engage with National Bonds, further strengthening their financial security.

The UAE’s millionaire population has increased by 77 per cent since 2013 and is now home to 116,500 millionaires reflecting the nation’s commitment to fostering prosperity and financial growth. B

“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 programme,” 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 realising 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 Dh14 billion, establishing it as a trusted financial partner for both UAE nationals and residents. With savings yielding returns of up to 5.84 per cent 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 National Bonds’ 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.

Source: khaleejtimes

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