Dubai, UAE -20th June 2023 – Astra Tech (Astra), a leading consumer technology holding group based in the United Arab Emirates (UAE), has signed a Memorandum of Understanding (MoU) with National Bonds, a Shari’a-compliant savings and investment company in the UAE, aiming to provide Shari’a-complaint saving and investment opportunities to millions of Botim users.
This partnership will give Astra Tech customers access to microfinance options specifically designed for individuals with low and medium incomes through Botim, supported by ‘Al Manassah’ Platform, owned by National Bonds. This platform will provide a convenient and transparent digital solution for corporates and individuals in the UAE seeking Sharia-compliant asset-backed financial solutions with end-to-end automation.
In addition, customers will have the chance to invest in saving certificates through Botim, a platform used by 10 million active users in the UAE and 150 million users worldwide. This partnership opens up exciting opportunities for Astra Tech customers to improve their financial well-being and grow their savings.
"We are excited to join forces with National Bonds to bring Shari’a-compliant investment opportunities directly to our vast user base of more than 150 million people," said Abdallah Abu Sheikh, CEO of Astra Tech and Botim. He continued, "Through this partnership, we are expanding our range of services and enabling our users to conveniently invest and save - these are two elements of finance which have always had high barriers of entry in the region, but we are slowly changing this for the better. Through the power of Botim, individuals can now effortlessly access and explore a wide range of investment opportunities, paving the way for a more secure and prosperous financial future.”
Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds, said: “We are delighted to announce our partnership with Astra Tech, as it perfectly aligns with National Bonds' strategic vision of fostering collaboration with national companies. This strategic approach not only enables us to actively contribute to the financial prosperity and secure future of UAE citizens and residents, but also empowers us to reach out to a wider audience. Through our various programs and solutions, we aim to extend our impact and benefit an even broader range of individuals.”
With this unique collaboration, Botim is revolutionizing how individuals in the UAE save and invest, making it more convenient than ever before. By joining forces with National Bonds, Astra Tech reaffirms its dedication to empowering individuals and simplifying every day. Together, they are propelling the UAE's digital ecosystem to new heights, ensuring that the future of Sharia-compliant savings and investments is within reach for all.
National Bonds provides corporations, UAE nationals, and expatriates with an opportunity to build and fortify their savings safety net. It also allows them to invest in programs that offer competitive returns, with the aim of enriching saving and investment knowledge and encouraging sustainable financial performance. In addition, the organization's rewards program is the largest in the country, offering a staggering AED 35 million in prizes and further rewarding customers based on their savings behaviour.
