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Mon 4 Mar 2013 12:50 PM

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National Bonds profits fall to 1.5%

NBC said the number of bondholders increased 5.78 percent to 690,000.

National Bonds profits fall to 1.5%
Mohammed Qasim Al Ali, chief executive officer of National Bonds

National Bonds Corp, the Dubai-owned Islamic savings scheme, said profit last year fell to 1.5 percent from 2 percent in 2011.

NBC, which is a unit of state-owned Investment Corporation of Dubai that started in 2006, said the number of bondholders increased 5.78 percent to 690,000.

"The rise in the number of bondholders is a clear indicator that both individuals and families are paying more attention to their future financial wellbeing," said Mohammed Qasim Al Ali, CEO of National Bonds Corporation.

"We are confident that the cumulative annual returns, which averaged 5.6 percent during the period 2006-2012, will emphasize the advantages of adopting long-term saving plans whilst cascading the culture across a larger section of our society," he added.