National Bonds names investment head

Dubai, August 31, 2008

National Bonds, the Sharia-compliant national savings scheme of the UAE, has appointed Jacques Bernard as chief investment officer.

Bernard will be responsible for managing and diversifying National Bonds’ current portfolio of investments, said a statement.

With 23 years of experience across Europe, the US and the Gulf, Bernard brings rich expertise in the field of investments and wealth management. He had earlier served as the head of Investment Funds at Global Investment House, Kuwait.

“We are pleased to welcome Bernard to our management team. We believe his extensive experience and in-depth understanding of the global and regional financial industry will enable us to further develop our business and expand the range of services we offer to our bondholders and investors,” said Mohammad Qasim Al Ali, CEO of National Bonds Corporation.

National Bonds is a simple and safe savings scheme that offers the excitement of the Dh5 million ($1.36 million) monthly draws plus high expected annual returns (6.03 per cent in 2007).

The Investment Corporation of Dubai (the investment arm of Dubai Government) owns 50 per cent of National Bonds while the rest is owned by leading Dubai Inc. companies, said a statement.-TradeArabia News Service

Tags: National Bonds Corporation | Investment Corporation of Dubai |