Smart savings gaining momentum in the UAE with National Bonds’ ‘Sukuk Express’

Tuesday 27 October 2015
Ahmed Bibars, Executive Director of Retail & Distribution at National Bonds

Dubai - MENA Herald: For the second time this year, National Bonds, the leading sharia-compliant savings and investments company in the UAE, is monitoring customer responses to the new ‘Sukuk Express’ service Since its launch.

The new service allows National Bonds’ customers to deposit up to AED20,000 daily in their accounts via quick payment machines designed by MBME (The Cube), a market leader in kiosk and self-service payment solutions.

The company has revealed that 9,779 transactions have been conducted via the Sukuk Express machines within the nine-month period from February till October 2015, signifying an average increase of 1,086 savers each month taking advantage of the service.

The results also show a significant rise in transactions between June and July, with the number of users increasing from 1,507 to 2,177 savers in this period.

The results are a testament to the successful roll-out of Sukuk Express as a customer-friendly instant deposit service transacted via 1,000 machines distributed across the UAE. Sukuk Express is a key part of the company’s plans to encourage its customers to save anytime and anywhere through the quickest and safest means possible.

The company’s research included information on the distribution of users of instant depositing machines according to their nationalities. Indian nationals comprised the largest share with 2,734 savers opting to use Sukuk Express, followed by 1,651 UAE national savers.

Commenting on the results, Ahmed Bibars, Executive Director of Retail & Distribution at National Bonds, said: “We are very pleased with the excellent response from customers in the UAE towards the instant saving service. The service has been designed to provide our customers with facilities that help them to save with peace of mind and the minimum inconvenience. We have noticed the increasing keenness among customers to ensure their secure financial future, no matter where they may live in the UAE or what their financial capability. This was our key motivator to launching these quick payment machines. Our move has been validated with the high uptake that this service from National Bonds has witnessed in recent months.

“We are committed to creating similar unique solutions and leveraging cutting-edge technologies to improve our services, and help articulate the vision of our leadership to transform the UAE into one of the leading global countries by 2020.”

National Bonds has already designed an online form to update customers about the location of instant depositing machines in order to save them time and effort in establishing a regular savings habit.

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