National Bonds offers online advice to savers
National Bonds adds tips and tools to website to encourage saving habit in UAE
UAE National Bonds is now offering financial planning tools and advice through its website, as part of its mission to create a culture of saving in the country.
The Financial Advisory unit at National Bonds has developed the information source, which is available in Arabic and English.
The site includes information about planning for retirement and children's education, debt management, investment solutions, takaful, and estate planning. In addition, the website offers practical financial planning tips on goal setting, cash management and budgeting, financial health, and the rule of 72 - which provides an almost exact indication of how investments may grow depending on the annual profit rate or return on investment.
The site also includes online calculators to help users to manage expenses and budgets and develop their savings plans.
According to National Bonds own 2015 Savings Index, a survey of financial habits of its customers in UAE, around 48% of savers are influenced in their investment habits by information they read online.
Mohammed Qasim Al-Ali, CEO of National Bonds, said: "Financial planning is the only way for individuals, corporations, and even governments to achieve financial security. Since the launch of our company, we have worked relentlessly to enhance financial literacy among citizens and residents of the UAE. Leveraging our extensive experience in savings and investment, we help web users improve their financial conditions. Our new online tool will save time and effort for those looking for simple and straightforward financial planning based on a scientific approach and expertise.
Al-Ali added: "In one way or another, individual practices reflect on society, and small budgets are just as important as large ones. In order to become real partners in social and economic development, members of the public - and particularly the young generation - need to hone their financial planning skills. If we want the youth to contribute their fair share, we have to motivate them to become responsible, and learn sound financial planning and budgeting so that they are ready to assume bigger responsibilities related to investment and wealth management at a later stage. Therefore, we have taken it upon ourselves to offer with appropriate knowledge tools that will help them control their expenses, manage debts, and find the best ways to save and invest."