UAQ FTZ employees can now use National Bonds' retirement savings solutions.
The partnership aligns with the latest announcement by the UAE government regarding the new optional system for end-of-service gratuities.
Umm Al Quwain, September 2023
Umm Al Quwain Free Trade Zone Authority (UAQ FTZ), the UAE’s fastest growing SME business hub, and National Bonds, the UAE’s savings and investment company, have announced a new partnership in which more than 9,000 registered company employees covering investors and employees of UAQ FTZ can now leverage National Bonds’ saving solutions to help them plan their retirement.
This partnership aligns with the UAE government's latest announcement about the new optional system for end-of-service gratuities for private sector and free zone employees, which aims to safeguard workers' savings and invest them safely to protect their rights and ensure family stability.
Furthermore, the partnership will give entities under UAQ FTZ’s umbrella and their employee's access to National Bonds’ diverse range of flexible savings and investment programs, aimed at helping individuals invest in their future and supporting corporates with employee retention strategies such as ‘Term Sukuk’, ‘Second Salary Program’, ‘Global Saving Club’, and the ‘Golden Pension Plan’, particularly designed for enhancing end of service benefits for employees.
Commenting on the partnership, UAQ FTZ Chairman Sheikh Khalid bin Rashid Al Mu'alla said, “This partnership will accelerate our push towards the financial wellness of our stakeholders and strengthen our position as a global business hub.”
"We are excited to embark on this new journey with National Bonds, a pioneering company with demonstrated capabilities in financial planning,” added UAQ FTZ General Manager, Johnson M. George. “By offering access to National Bonds' diverse range of savings and investment programs, we are empowering our community to secure their financial futures and also aligning with the UAE government's vision of safeguarding workers' savings. Together, we are shaping a brighter, more secure tomorrow for all."
Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds, said: “The UAE government places significant emphasis on retirement planning, recognizing its critical role in ensuring stability and financial independence for both UAE nationals and residents. At National Bonds, we are delighted to announce our partnership with UAQ FTZ, which will enable us to reach a wider audience within the UAE. This collaboration aligns perfectly with our continuous commitment to delivering initiatives and solutions designed to encourage a savings culture and facilitate sustainable financial development for individuals and corporates alike.”
Just 30 minutes from Dubai, Umm Al Quwain Free Trade Zone is a fast-growing logistics and business hub in the MENA region, offering more than 20 million sq. ft of premium land for business operations with 9000+ companies and investors across 150 nationalities. The key benefits include a strategic location that gives access to MENA, Asian, and European markets, a versatile business ecosystem for startups and SMEs, 100% foreign ownership, 100% repatriation of capital and profits, zero currency restrictions, 100% import and export tax exemption within the free zone, a simple and fast registration process, excellent customer support, no restrictions on hiring foreign employees, and modern and investor-friendly rules and regulations.
Earlier this year, UAQFTZ received two prestigious accolades, "Best upcoming free zone for small to large-scale industries" and "Highest investor satisfaction award" at the Asia One Awards.
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