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National Bonds Corporation: 2016 Savings Index for UAE
23/05/2017 16:56

National Bonds Corporation: 2016 Savings Index for UAE

National Bonds Corporation announces 2016 Savings Index for UAE

National Bonds, a UAE company specialising in a Sharia-compliant investment programme, has released its 2016 Savings Index findings based on a survey conducted among savers and non-savers in the GCC region.

Compiled by Sondos Market Research, the survey aimed to gain feedback on three key areas: financial stability, potential for saving and existence of an enabling savings environment in their respective countries.

The survey revealed that 59 percent of respondents, 68 percent of men and 29 percent of women, are the sole earning members in the family, and therefore the only contributors to the family’s finances.

Of the total number of respondents, 37 percent, 66 percent of women and 29 percent of men, are partial contributors to the family’s income. Fifty-two percent of the respondents participate in making financial decisions for the family.

Elaborating on the index results for the UAE, Mohammed Qasim Al-Ali, CEO, National Bonds Corporation, said, "The statistics of our 2016 survey show a positive uptick in awareness of the importance of saving and we found that 68 percent of the respondents plan to start saving compared to 31 percent in 2015. The entire UAE population, including nationals and expats, are more financially aware with the increase in savings potential reaching 19 percent."

He added, "These findings reflect the path laid out by the UAE government, consisting of strategies that aim to raise the happiness of the nation’s residents through providing stability and employment opportunities, as well as establishing and strengthening the concept of a cohesive society. It is quite evident that understanding the fluctuating realities of life is the first step towards changing our priorities and financial status."

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