In the first quarter of 2024, National Bonds, the UAE’s leading Shariah-compliant savings and investment company, announced that 292 customers achieved millionaire status through saving with them. This achievement highlights a significant trend – the post-millennial generation in the UAE is showcasing financial prudence by actively saving for their future. Gen Z bondholders, born between 1997-2012, have shown remarkable financial discipline, becoming the quickest to amass Dh1 million with an average duration of just 3.5 years, compared to the overall average of 4.2 years. Additionally, 34 percent of this demographic continues to engage with National Bonds, further enhancing their financial security.
The UAE has witnessed a 77 percent increase in the millionaire population since 2013, with 116,500 millionaires currently residing in the country. This growth reflects the nation’s commitment to fostering prosperity and financial growth. National Bonds aims to provide a responsible, secure, and accessible pathway for all savers in the region to achieve their financial dreams. The company’s comprehensive rewards program incentivizes diligence and hard work, supporting individuals on their journey to financial success. With the UAE becoming a hub for millionaires, National Bonds stands ready to support this momentum and contribute to wealth creation in the region.
Rehab Lootah, Deputy Group CEO of National Bonds, emphasizes the company’s commitment to enriching the broader economic landscape of the region. The company’s investment portfolio surpassed Dh14 billion by December 2023, establishing National Bonds as a trusted financial partner for both UAE nationals and residents. With savings yielding returns of up to 5.84 percent in 2023, National Bonds consistently delivers tangible benefits, reinforcing its reputation as a dependable choice for savers. The company is dedicated to providing a simplified and rewarding savings journey tailored to the unique needs and aspirations of its customers.
The rise in the number of millionaires in the UAE further validates National Bonds’ customer-centric solutions and products in promoting financial empowerment. The company remains steadfast in its commitment to fostering a culture of financial responsibility and security, ensuring a brighter and more prosperous future for all UAE savers. The impressive achievements of the post-millennial generation and the overall growth in the millionaire population showcase the effectiveness of National Bonds’ approach to encouraging savings and investment among individuals in the UAE. With a focus on financial prudence and discipline, National Bonds continues to be a trusted partner for those seeking to secure their financial future.
