National Bonds

What does National Bonds do for your end of service savings?

It runs an investment fund under the Ministry of Human Resources and Emiratisation’s savings scheme, which lets employers invest their employees’ end of service benefits with National Bonds.¹ On 10 October 2024 the securities regulator announced that it had granted National Bonds and Daman Investments the first licences under the scheme.² Its list of funds dates the National Bonds licence 8 October 2024.³

The company’s licence with the Capital Market Authority is under company ID CP-0000034, with a Category 2 licence for asset management and managing investment funds, and a Category 5 licence for promotion.¹

What does the fund hold?

National Bonds describes the Capital Protected Shari’a Compliant Fund as a Sharia-compliant option for low risk tolerance.¹ Its prospectus says the capital protection sub-funds hold Sharia-compliant deposits with UAE-licensed banks and sovereign Sukuk issued by the UAE’s federal and local governments. It also says no party, including the fund manager or an insurer, gives a capital guarantee: the protection comes from the type of assets held.⁴

Ask your employer for the sub-fund supplement, which sets out the exact holdings.

What does it charge?

The prospectus says management, custody, audit, registrar, administration and Sharia adviser fees for each sub-fund are set in that sub-fund’s supplement.⁴ Ask for the supplement before you sign anything.

Who else is involved?

The prospectus names Standard Chartered Bank UAE as custodian and Apex Fund Services as administrator and unit registrar.⁴

How do you contact National Bonds?

The prospectus lists the fund manager’s contacts as inv@nationalbonds.ae and +971 4 384 8000.⁴ National Bonds’ customer line is 600 522279 in the UAE.⁵ Your rights as a saver, including payment within 14 days of your job ending, are set by the scheme rules.