Dubai: A number of young bondholders across the UAE were treated to a small surprise during the first day of Eid Al Adha as National Bonds decided to distribute some cash rewards to its minor members.
The savings and investment company granted “Eidiyah” to more than 500 minor bondholders through special electronic draws of Dh50 and a grand draw for Dh50,000 at the start of the holiday.
Eidiyah is an annual initiative that rewards minor bondholders through digital draws. Aside from the special draws, National Bonds also allocates 200 daily and round-the-year prizes of Dh50 for minors as part of its rewards programme.
National Bonds reported that so far this year, it has made more than 156 millionaires in the UAE. The aggregate prize rewards granted to bondholders this year has already reached around Dh28 million, the company told Gulf News.
For the Eidiyah rewards scheme alone, some Dh124 million prize money have already been distributed since 2006. Out of the total cash rewards, 48 per cent went to young females, while 52 per cent went to male minor bondholders.
Mohammed Qasim Al- Ali, CEO of National Bonds, said the Eidiyah tradition has transformed into an annual ritual that they now leverage to encourage the younger generation to save regularly.
"Through this initiative, we also help minors to better understand the value of money and educate them about securing a stable future for themselves, their families and society as a whole,” said Mohammed Qasim Al-Ali, CEO of National Bonds.
Al-Ali also noted that they are seeing “great improvement” in the financial behaviour of minors and young adults who make up 50 per cent of the UAE population.
“They play a pivotal role in ensuring a bright future for the country and in helping achieve its growth objectives.Initiatives like the UAE Youth Empowerment Strategy also motivate and drive responsible financial practices and active participation in programs that achieve sustainable growth and prosperity.”
