Employees of more than 9,000 companies registered at Umm Al Quwain Free Trade Zone Authority (UAQ FTZ) will now be able to leverage saving solutions from National Bonds and plan their retirement.
The new partnership between the UAQ FTZ and the UAE-based savings and investment company comes following the UAE government’s announcement of a new optional system for end-of-service gratuities for employees in the private sector and free zones, which aims to safeguard workers’ savings (which constitute the end of service gratuities) and ensure that they are safely invested.
We are thrilled to announce our collaboration with @UAQFTZA , set to empower more than 9,000 registered company employees with our savings solutions. In alignment with the latest announcement by the UAE, we're amplifying end-of-service benefits. Forward, together! pic.twitter.com/fNyCyPUKcw
— National Bonds (@NationalBonds) September 25, 2023
Entities under UAQ FTZ’s umbrella and their employees will get access to National Bonds’ diverse range of flexible savings and investment programmes, which are aimed at helping individuals invest in their future and also support corporates with employee retention strategies, such as ‘Term Sukuk’, ‘Second Salary Programme’, ‘Global Saving Club’, and the ‘Golden Pension Plan’.
National Bonds promotes savings culture
Johnson M. George, General Manager, UAQ FTZ, added: “We are excited to embark on this new journey with National Bonds, a pioneering company with demonstrated capabilities in financial planning.
“By offering access to National Bonds’ diverse range of savings and investment programmes, we are empowering our community to secure their financial futures and also aligning with the UAE government’s vision of safeguarding workers’ savings.”
Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds, commented: “The UAE government places significant emphasis on retirement planning, recognising its critical role in ensuring stability and financial independence of UAE nationals and residents.
“This partnership with UAQ FTZ will enable us to reach a wider audience within the UAE and aligns perfectly with our continuous commitment to delivering initiatives and solutions designed to encourage a savings culture and facilitate sustainable financial development for individuals and corporates alike.”
National Bonds has experienced significant success across various aspects and recorded a growth in its investment portfolio by 9 percent to reach AED14 billion ($3.81 billion) during the first half of 2023, contributed by more than 850,000 customers.
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