National Bonds, the Sharia-compliant national savings scheme of the UAE, has achieved record-breaking sales in the first six months of 2008.

The company’s sale of bonds touched approximately Dh1.4 billion ($381 million) at the end of June 2008, an increase of over 200 per cent compared to Dh460 million for the same period in 2007.

The company also witnessed an exponential increase in bond sales among UAE youth and women from January to June 2008, 124 per cent and 130 per cent, respectively.

Mohammed Qasim Al Ali, chief executive officer of National Bonds Corporation, said that the surge in sales was driven by the company’s strategy to increase awareness of the value of savings among UAE residents, with specific campaigns targeted at youth and housewives.

"We are very pleased with our half-yearly sales achievement as it reaffirms the high-level of public confidence in National Bonds as a simple, safe and profitable way to save."

"It is very encouraging to see women and youth, in particular, saving with National Bonds as a secure investment channel for their future. This goes to prove that National Bonds has definitely emerged as ’everyone’s favourite place to save’," he said.

As part of the awareness campaign undertaken earlier this year, National Bonds set up informational kiosks at various malls throughout the UAE.

Visitors to the malls were given the opportunity to learn about the benefits of investing with National Bonds and purchase bonds from the kiosks.

National Bonds can be purchased from over 300 outlets nationwide, including exchange houses and banks.

These include Emirates Islamic Bank, Dubai Islamic Bank, Sharjah Islamic Bank and exchange houses: Al Ansari, Al Fardan, Al Ghurair, Redha Al Ansari, Al Rostamani International, UAE Exchange, Wall Street, Habib and Lari Exchange.-TradeArabia News Service