14,000 Employees Enrol In National Bonds Employee Savings Programme
Umer Jamshaid Published November 21, 2018 | 04:15 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 21st Nov, 2018) The National bonds Corporation, the leading Sharia-compliant Savings and Investments organisation in the UAE, has today announced that 14,000 employees from across 130 companies have joined the firm’s Employee Savings Programme, ESP.
The programme forms part of a larger Financial Wellbeing Initiative spearheaded by National Bonds which supports local companies seeking to educate their employees on the importance of financial planning.
The ESP was first launched in 2012 to encourage employees to save for their future. The unique savings plan offers an annualised return of up to 2.82 percent on a regular savings fund of AED100 and above within the Mudaraba investment portfolio. It also provides participants with a number of key benefits, including doubling the chance of winning the monthly prize of AED1 million.
Mohammed Qasim Al Ali, Chief Executive Officer at NBC, said, "We are very proud of the success of our Employee Savings Programme. As the UAE’s leading investment company, we remain committed to instilling a culture of savings in the UAE. education is vital on the road to economic diversification and this programme aims to increase financial literacy among individuals through their employers.
"Our workshops raise awareness of finances and the role the employer must play in promoting financial literacy throughout their company. A financially literate workforce not only increases individual savings but also can increase employee well-being fostered through financial stability.’’ Launched in 2012, ESP sits under the National Bonds ‘Financial Wellbeing Initiative’. As part of this, the programme organises a series of workshops for companies from both the public and the private sector.
These workshops provide a platform for participants to discuss the benefits of saving, wealth management, and how to better prepare for your financial future with certified National Bonds financial experts. To date, the initiative has conducted over 400 workshops for a total of 134 companies.
The top three companies which have participated in National Bonds’ Employee Savings Programme are Dubai Police, DP World, and Petrofac. Other major players that have joined the programme include Dubai Duty free, Dubai Airports, Gloria Hotels, ENOC, Medcare, Al Ain Farms, Dafza, and Al Rawabi Dairy.
Mohammed Qasim Al Ali said in conclusion, "We have continued to see a strong appetite for our workshops over the years. The workshops, as well as our ESP, are constantly evolving based on industry research, including our annual Savings Indices. In fact, the latest results found that savings continue to be a priority for the UAE’s residents, with 41 percent of savers wanting to start their savings journey in 2018. We also found that the majority of respondents feel that they are not saving enough, highlighting a disconnection between wanting to save and having the resources or knowledge to do so. To bridge this gap, we will continue to develop unique and innovative financial tools to help employers and employees in the UAE achieve their financial goals."
Through the workshops, employers become increasingly aware of the importance of providing their employees with a savings scheme to help safeguard their future. In turn, employees feel financially secure, they are more efficient and naturally more productive. Additionally, besides improving productivity, company-provided savings plans are also an innovative way to retain talent.
Related Topics
Recent Stories
UAF to ink MoU with Ethiopian universities
Scouts playing exemplary role in serving humanity: Dr Iqrar
Punjab Police cricket honored with shields, medals & CCI certificates
Bugti issues directives to operate circular road parking plaza
PML-N to become more strong under Nawaz Sharif: Rana Sanaullah
300 raids conducted on hideous of drug-dealers
IP rights crucial in achieving SDG : Jam Kamal
Commissioner urges effective action against electricity theft
PAK-EPA's clean lab boosts environmental analysis capabilities with advanced ICP ..
Romania court opens way for start of influencer Tate's trial
Japan International Cooperation Agency (JICA) delegation visits WSSCA
13 outlets sealed for violating Hepatitis preventive SOPs
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago