Xpress Money partners with National Bonds
Customers in Oman can now use the Xpress Money platform to
make National Bonds investments
Muscat-Oman, September 8th 2013: Xpress Money, the world's most dependable money transfer brand has announced its association with National Bonds Corporation (NBC), a unique UAE leader in Sharia compliant savings and investment schemes fully owned by Investment Corporation of Dubai. The partnership facilitates Omani residents to remit funds to purchase National Bonds from all Xpress Money outlets across the country to benefit from the savings schemes competitive annual profit sharing structure and its richest rewards program in the GCC. The Savings scheme is Sharia compliant and it's based on the Mudaraba principle.
With over 200 Xpress Money agent locations in Oman, NBC customers now have the privilege to plan their savings and investments at their convenience, without the hassle of visiting a particular location to make their remittances or having to travel across the border to do so.
Commenting on this association, Mr. Sudhesh Giriyan, Vice President and Business Head, Xpress Money said, "It is Xpress Money's goal to facilitate savings and investment opportunities and this association is another step in that direction. We encourage our expat customers and their families back home to save and invest for their future. Our expansive network in Oman is going to make it convenient for NBC’s customers to make their investment remittances easily".
Mohammed Qasim Al Ali, CEO of National Bonds Corporation, said: "We are pleased to offer the Omani people an easier way to invest with National Bonds. In addition to foraying into a new market that holds significant potential, the move has allowed us to come a step closer to our objective of supporting the communities in the GCC in financially securing their future. National Bonds is keen to meet the Omani community’s expectations from long term savings and will strive to offer them a wide range of saving plans and rewards to grow their savings via its richest rewards program in the GCC".
New Omani customers will be required to register and submit their statutory documents online. Registrants will receive a reference code via SMS onto their listed mobile number. They can then visit any Xpress Money outlet and make their remittances using the reference number. For subsequent purchases, bondholders will simply need to quote their account number to complete the transaction with Xpress Money.
The move comes on the back of phenomenal interest demonstrated by the Omani community in NBC’s service offerings and the new structure of the rewards’ program. Currently, over 11,869 Omani nationals (number is much bigger Wael?) have entrusted their savings with the scheme.
National Bonds, which is licensed and regulated by the UAE Central Bank, provides UAE nationals, UAE residents and non-residents with a credible and safe savings opportunity. Minors can also own National Bonds, provided the bonds are purchased by the parent / guardian. Each bond costs AED10, with a minimum purchase of AED100.
About Xpress Money:
Xpress Money is a global money transfer brand with a thriving presence in more than 150 countries in 5 continents across 170,000 agent locations across the world. Working towards the goal of Bringing Home Closer to millions of migrants residing away from their homes, Xpress Money has come to be known as the most dependable international money transfer brand. Xpress Money provides its customers a simple, fast & safe way to transfer money anywhere in the world through innovative technology, superior customer service and its extensive worldwide network. For more information, follow us on
Facebook: http://on.fb.me/Z5sngv, Twitter: @Xpress_Money or visit www.xpressmoney.com.
About National Bonds Corporation PJSC:
National Bonds, which is licensed and regulated by the UAE Central Bank, is a Sharia'a compliant saving scheme that provides UAE nationals, UAE residents and non-residents - With a credible and safe savings opportunity. Minors can also own National Bonds, provided the bonds are purchased by the parent / guardian. Each bond costs AED10, with a minimum purchase of AED100 National Bonds Corporation PJSC announced an annual profit up to 2.62% for 2012. The scheme has distributed an annualized rate of return of 5.6% since inception, which is a combined average of annualized profits and prizes distributed till 2012. National Bonds is a unique savings scheme with a huge and diversified client base with over than 690,000 customers, offering:
- Customers will have the opportunity to win 43,207 prizes every month. These prizes include a double number of weekly awards distributed across two categories of citizens and residents. The first week prize is the million dirham awards that allow all bondholders to enroll in regardless of the savings they have. The million dirham award is followed by two BMW cars in the second week and two gold bars to two women bondholders worth AED100,000 each during the third week. In addition to two scholarships worth AED50,000 each to two student bondholders
The prizes also includes give away cash award every minute of every day. The total number of cast award in a day is 1,440 valued at AED50 each, 600 prizes will be reserved for bondholders in specific sub-categories: 200 for women bondholders, 200 for children bondholders and 200 for bondholders who have a direct debit arrangement with their respective banks
Savings with National Bonds can be redeemed easily after an initial 90-day holding period by calling 600522279 or for instant cash redemptions up to AED10,000 per day through visiting selective branches of Al Ansari exchange and UAE Exchange houses across the UAE
- National Bonds does not charge any transaction fee from its customers. One can open an account for free and also close the account at any time without paying a penalty
- The National Bonds Employee Saving Program offers government and private sector employees an opportunity to save a portion of their salary on a monthly basis and also be entitled to all benefits and rewards offered by National Bonds
- National Bonds can be purchased from nearly 620 outlets across the UAE, including Emirates Post offices, exchange houses and banks
National Bonds can also be purchased online at www.nationalbonds.ae or call 600 522 27.