National Bonds Corporation (National Bonds), the leading UAE company specializing in unique sharia-compliant savings and investment programs for individuals and organizations, signed a collaboration agreement with MySky, the fastest-growing online payment and e-commerce platform in the UAE. MySky is owned by Sky Telecom Group, the premier digital enabler of communication service providers and the consumer technologies sector in the UAE.
The three-year partnership offers National Bonds’ customers the option of making online payments and purchasing sukuk (bond certificates) through MySky’s portal, point-of-sale machines, and mobile application. In turn, MySky’s more than one million customers can benefit from easy access to the wide range of National Bonds’ sharia-compliant financial products.
Mohammed Qasim Al-Ali, CEO of National Bonds, and Mohamed Hashem, General Manager of Sky Telecom Group and MySky, signed the agreement during the Cards and Payments Middle East conference and exhibition, held at the Dubai International Convention and Exhibition Centre from May 1 to 2, 2017.
The partnership marks a new step in National Bonds’ continuous efforts to enhance its services through leveraging the latest digital technologies to make the saving journey faster, more efficient, and more secure with the aim of achieving financial happiness.
Mohammed Qasim Al-Ali said: “The UAE’s comprehensive regulatory framework for online transactions has positioned the country as the largest e-commerce market in the GCC region. The advancements we see in digital services within Islamic banking and finance herald a promising future for the sector, with the number of users expected to reach 150 million by 2021. These developments motivate us to enter the digital space and provide our products and services via the most secure online platforms in the UAE so that more social segments can access responsible, sharia-compliant savings and investment products.
For his part, Mohamed Hashem, Chief Financial Officer at Sky telecom group said: “Sky Telecom is a national company that offers financial services to individuals and businesses through multiple channels. These include the MySky online payment and e-commerce platform (
www.MySky.ae), MySky mobile application, and points of sale across the UAE that comprise the MySky outlet network, mobile stores, supermarkets, pharmacies, book shops, and other merchandise stores. Each point of sale is equipped with advanced machines that accept cash payment, digital wallets, and barcodes.
He added: “We seek to implement Dubai’s Happiness Agenda through prioritizing innovation as a key driver of the economy with the ultimate goal of boosting individual as well as societal happiness. Through simplifying the process of paying for daily needs, such as communications, investments, transportation, government services, fines, and utilities, we directly contribute to raising the happiness index of the UAE’s citizens and residents. In this context, the addition of National Bonds to our distinguished list of partners that spans the UAE and Egypt will greatly enhance our service offering.
