National Bonds announces major changes to draw format

Dubai: National Bonds Corporation, the UAE’s innovative Sharia compliant National Saving scheme, has announced a major revamp to the draw format of its popular saving scheme by changing the draw from a monthly to a weekly format. This new structure is aimed to encourage more people to save and reward them by becoming Millionaires every week.

The first weekly National Bonds Millionaire will be announced on May 9 and from then on, every Saturday of the week. At present, National Bonds has a customer base of over half a million bondholders across 91 nationalities, and expects sales to grow by 100 per cent in 2009. Under the new format, there will be 101 prizes every week and will be distributed across different prize categories Dh1 million, Dh10, 000, Dh5, 000, Dh1, 000 Dh500.

This amounts to an impressive Dh1, 155,000 in total prize money each week. Bondholders eligible to win the grand prize of Dh1 million every week are those with minimum savings of Dh10, 000. While all bondholders regardless of their savings amount, are eligible for the remaining 100 prizes.