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02 November 2018
ISLAMIC BANKING

Bringing ‘prestige’ to Shari’ah-compliant investment

Mohamed Salah, Head of Corporate & Wealth Management at National Bonds speaks about Prestige, its product aimed at HNWIs


What led to the launch of Prestige?

 

National Bonds was first launched to meet a demand for a service that rewarded investors. Since then, we have continually developed tailored products that meet the ever-changing needs of our customers.

 

Launched in 2016, Prestige is unique offering and the first of its kind in the UAE. The product was designed by our Wealth Management team with the aim of providing high net worth individuals with investment advice and opportunities within the National Bonds Corporate (NBC) portfolio.

 

Private wealth in the UAE is growing exponentially and is expected to reach $1 trillion by 2020. With this in mind, Prestige aims to provide customers with guidance around risk management and responsible investments to help achieve sustainable financial security.

 

How does Prestige differ from other similar offerings in the market?

 

Prestige combines expert financial advice with industry-leading products. It offers investors a tailored and personal service.

 

The programme consists of three categories:

 

Prestige Gold offers customers a portfolio of beneficial services and access to Wealth Managers who are among the industry’s best. Our Gold Members enjoy the highest level of service in the region and is only open to customers who have invested a minimum of AED 350,000 with us.

 

Prestige Silver is only available to customers who have invested a minimum of AED 150,000 with us. We offer our Silver members services that include exclusive investment opportunities and direct access to our world class relationship managers.

 

Bronze Membership is only available to customers who have invested a minimum of AED 50,000. Our collective experience and wealth of local knowledge means that our Bronze Members have access to unrivalled financial advice.

 

In addition, clients across all tiers have access to value-added services such as a pick-up and drop-off service for cheques and application services, free financial planning, advisory services and same day processing. Prestige also offers access to a dedicated Prestige desk at all National Bonds corporation branches.

 

One of the products unique selling points is the ability to invest in our real estate inventory that offers investors the best payment plan in the UAE: a 10 per cent down payment followed by 90 per cent over a seven years payment plan post-handover.

 

How can executives and entrepreneurs cultivate a savings culture in the UAE market?

 

Education is key to creating a savings culture and we believe employers play an important role in helping to raise awareness of Financial Planning and regular savings programmes in the UAE.

 

As a business, we are passionate about educating the public on the importance of saving. To do this, we play a major role in educating residents and nationals on financial literacy. For example, we host financial workshops for companies on the saving and investment outlook in the UAE and compile an annual National Bonds Savings Index, which analyses the spending savings and spending habits of UAE residents.

 

However it is not just about education. We also have a series of programmes tailored to suit all investor needs. Take our Employee Savings Programme (ESP), this was created for companies as a way to retain employee talent, enhance employee well-being and increase staff retention.

 

Nationals Bonds will continue to raise awareness of Shari'ah-compliant savings and investments tools to residents and nationals across the emirates with a view to increase the number of regular investors in the UAE. Through financial instruments and planning, we aim to help boost the national economy and help investors achieve sustainable financial stability and security.

 

What are the company’s plans moving forward?

 

As mentioned, we are committed to increasing the number of regular investors in the UAE and in line with the government’s vision; we are striving to help foster a savings culture through education and awareness.

 

At National Bonds, we are continually adjusting our various offerings to suit the needs of our customers; the environment and the ever-changing market we live in. There are so many options available when it comes to savings and investment and our mission is to ensure our customers take the right steps to achieve their goals. This means providing them with the best advice, a successful financial plan and access to a wide-range of products.

 

Our customers sit at the heart of everything we do and drive our business goals. Our mission is simple. We want to continue to provide excellent customers service. For example, we are currently working to develop cheque deposits and collection services. We have also adopted a digital-first approach, seen in a number of enhancements made to our digital platforms.

 

Our customer-centric approach will benefit all our customers, those who seek financial advice in our physical branches and those who want to carry out transactions via online platforms on the go. Our digital platforms will play a key role in this, as it will allow us to reach our customers faster and provide customers with a seamless customer journey, end to end.

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