Dubai, United Arab Emirates, 11th September 2023
National Bonds, the UAE’s Shari'a-compliant savings and investment company, has received today a Philippines government delegation, as part of their visit to the UAE. During the visit, the delegation had the opportunity to learn about National Bonds’ impact on the UAE’s savings culture through its best successful programs, which have witnessed the contribution of more than 800,000 customers, including both nationals and residents from diverse communities.
The delegation included H.E. Rosalia V De Leon, Treasurer of the Republic of the Philippines, H.E. Alfonso Ferdinand A. Ver Philippine Ambassador to the United Arab Emirates, Arifa Ala, Philippine Central Bank Assistant Governor, Renato Dueñas, Consul General of the Philippines in Dubai and the Northern Region, Charmaine Mignon S. Yalong, Commercial Attaché of the Philippine Trade and Investment Center (PTIC) in Dubai, and Marford M. Angeles, Consul General in addition to a number of senior officials from the treasury department office.
The visit coincides with a period of notable achievements for National Bonds, as the group has experienced significant success across various aspects, and recorded a significant growth in its investment portfolio by 9% to reach AED 14 billion during the first half of this year, while the total value of real estate portfolio investments in the group amounted to AED 3.5 billion, and it is expected to reach AED 5 billion during the next three years.
Throughout the visit, the two parties engaged in comprehensive and thorough discussions regarding potential avenues for collaboration. The Philippine delegation received detailed briefings on National Bonds’ best practices in the areas of investment and savings, and how retail sukuk which is untapped globally could support the growth of economies around the world. National Bonds shared its innovative solutions like the Golden Pension Plan tailored for corporations and the Second Salary Plan designed for individuals, alongside other offerings catering to diverse segments of society. These discussions were driven by the shared objective of promoting a culture of savings, as well as fostering sustainable financial growth.
Furthermore, the delegation was briefed about National Bonds’ expertise in engaging with various segments of society in the UAE, most notably the Filipino community, where National Bonds has consistently demonstrated its commitment by launching dedicated programs tailored to serve this community.
Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds, said: “The visit of the Philippines government delegation reflects the pivotal role played by National Bonds in advocating and fostering a savings culture. It also reconfirms that the UAE is a benchmark for innovation as seen in National Bonds’ impact on the local society and the local economy. The programs and strategies developed by National Bonds align with individuals’ aspirations, ultimately enhancing financial security. This also aligns with the recent government announcement regarding the new system for employees' end-of-service benefits in the Emirates.”
It’s worth mentioning that National Bonds places significant emphasis on the Filipino community in the UAE and is dedicated to strengthening communication with them. Recently, the company participated in the 125th Philippine National Day celebrations, during which National Bonds introduced a rewards program tailored for both new and existing Filipino clients, serving as an incentive to encourage savings and investment behavior
