National Bonds

The plan | advantage | Investment Solution | register

Introduction to the program

National Bonds is proud to be approved as an Investment Manager to facilitate and provide all services related to the Savings Scheme for employers who volunteer to invest their employees’ end of service beneﬁts under MOHRE’s Saving Scheme.

faq

EMPLOYER GUIDE

National Bonds Advantage

Unique Investment Opportunity Backed With Expertise And Experience Of National Bonds

National Bonds Capital Protected Shari’a Compliant Fund offers the following advantages to the employers who choose this option: - Control of redemption in line with MOHRE guidelines. - Shari’a Compliant. - Capital Protected through its underlying investment strategy. - User friendly and seamless experience through its portal.

EMPLOYER GUIDE

The investment solution

Investment Objectives: The fund is structured to provide investors with returns like those of money market investments, aiming to offer a stable and low-risk option. By carefully managing costs, including all management fees and operational expenses, the fund seeks to maximize net returns for investors.

Investment Instruments: The Fund will invest in Shari’ah-compliant deposits with banks licensed by the UAE Central Bank and sovereign Sukuks issued by the UAE’s Federal and Local Governments.

FUND GUIDE

prospectus

Supplement

Employee Benefits

Unique Investment Opportunity with Sustainable Returns

NAV calculated and announced on a weekly basis.
Shari'a Compliant.
Capital Protected option for preserving investments.
User-friendly portal for visibility of funds

Steps to Register

1. Choosing the fund and Registration

Following approval, the employer chooses an approved investment fund.
In this case, it is National Bonds Capital Protected Shari’a Compliant Fund.
The employer signs up for the Savings Scheme through the MOHRE website.

2. Investment Agreement

The Company signs the investment agreement with National Bonds, the latter being the Fund Manager and Registry Administrator.

3. Subscription mechanism

National Bonds system enables the following on the portal:

Provides the employer a username to involve workers who want to invest in the fund.
Informs the establishment on the method of transferring subscription amounts.
Provides the employer with the ability to view the establishment’s account in the fund

4. Periodic transfer of subscription amounts:

The company periodically transfers subscription amounts to the Fund as per the MOHRE and the Fund’s terms.

5. Electronic data transmission

The MOHRE electronically transmits the data of participating employees and companies to the Registry Administrator.
National Bonds system provides employers and workers electronic data statements.

Request a Call Back

600 522279 mohre@nationalbonds.ae

NATIONAL BONDS CORPORATION SOLE PROPRIETORSHIP P.S.C. is licensed and authorized by the SCA- Company ID - CP-0000034 for the conduct of the following financial activities:
(i) Category 2 – Dealing in Investment License Number – 20200000170 - Profit Sharing Asset Management and Managing Investments of Investment Funds
(ii) Category 5 - Arranging and Advice License Number-20200000100 – Promotion

1. What is the End-of-Service Benefits Savings Scheme?
The End-of-Service Benefits (EOSB) Savings scheme is a voluntary end-of-service savings scheme through which the end-of-service benefits of employees are invested in reputable investment funds, enabling them to receive returns upon completion of their service. Employers choosing to participate in the scheme will need to contribute monthly to an investment fund. These contributions will entitle beneficiaries (employees) to receive the allocated basic subscription amount, along with any investment returns generated, in place of their end-of-service benefits.

2. What is National Bonds?
National Bonds Corporation Sole Proprietorship P.S.C. (“National Bonds”) was launched in 2006 with a mission to promote a savings culture that will beneﬁt the people of the UAE. National Bonds is 100% owned by the Investment Corporation of Dubai (ICD), the sovereign investment arm of Dubai Government. It is licensed and supervised by the Securities and Commodities (“SCA”) Authority and audited by Dubai Government Financial Audit Authority, Shari’a Supervisory Board, as well as reputable international external auditors. National Bonds has been approved as a Fund Investment Manager to provide investment management services related to the Savings Scheme for employers who volunteer to invest their employees’ end-of-service beneﬁts under the End-of-Service Program (“Savings Scheme”) sponsored by the UAE Ministry of Human Resources and Emiratisation (“MOHRE”)

3. What is National Bonds Capital Protected Shari’a Compliant Fund (alternative end-of-service benefit system Savings scheme)?
National Bonds Capital Protected Shari’a Compliant Fund is a fund managed by National Bonds and is part of the UAE Government approved alternative end-of-service benefits scheme. With the Fund, companies can invest their employees’ end-of-service benefits and monitor the performance via a digital and interactive platform. National Bonds aims to distribute regular returns to unit-holders. There are several key advantages for employers when they invest. With an experienced investment manager, the fund offers capital protection while adhering to Shari’a compliance. It provides competitive returns, helping businesses streamline their operations and reduce operational costs. Additionally, by offering this fund as part of employee benefits, employers can create a more attractive workplace.

4. What is the operating framework of National Bonds Capital Protected Shari’a Compliant Fund?
National Bonds Capital Protected Shari’a Compliant Fund operates in collaboration with top tier financial service providers, including but not limited to:
• Fund Manager and Scheme Registrar – National Bonds
• Fund Administrator – Standard Chartered Bank
• Auditor – Ernst & Young Global Limited
• Legal Advisor – Baker McKenzie
• Shari'a Supervisory Advisor – Minhaj Advisory

5. What product is offered under The Fund?
National Bonds Capital Protected Shari’a Compliant Fund offers employers subscription for both skilled and unskilled workers, as defined by MOHRE.

6. Who can enroll for the alternative end-of-service benefits savings scheme under the National Bonds Capital Protected Shari’a Compliant Fund?
Voluntary subscription can be made by the employee through the employer who is an existing Unit-holder, up to a maximum of 25% of annual salary per year, in line with the Savings Scheme rules defined by MOHRE . While voluntary contributions are allowed within the scheme, this feature will not be initially offered under National Bonds end-of-service Fund program. Once this functionality is made available, communication to that effect will be issued accordingly.

7. What does capital protection entail?
The Fund operates as a local investment fund with an investment strategy carefully designed to protect the Fund’s capital from investment risks, and ultimately return it, along with any profits, to Unit-holders on a future date specified in the offering document. The capital protection extended as part of the Fund's offering is mainly tied to the underlying investments and its credit profile, thereby providing assurance regarding the Fund Manager's capacity to achieve the maximum level of protection to Unit-holders’ capital.
The Fund is not guaranteed by the Fund Manager, an insurance company or any financial institution.

8. What does the National Bonds Capital Protected Shari’a Compliant Fund invest in?
The Fund invests in Shari’a-compliant deposits with banks licensed by the UAE Central Bank and in sovereign Sukuks issued by the UAE’s Federal and Local Governments.

9. What is the anticipated return on the National Bonds Capital Protected Shari’a Compliant Fund?
The Fund will seek to provide a money-market like return to investors, net of fund management costs and operational expenses.

10. What are the annual management charges associated with investing in the National Bonds End-of-Service Capital Protected Fund?
An annual management fee of 0.75% of The Fund’s assets under management is applicable under this program.

11. Are dividends and distributions paid out to investors?
The Fund's profit will be calculated and distributed to Unit-holders daily. Dividends are distributed by issuing new units to Unit-holders on the business day following the dividend distribution date. Fractional units (up to approximately four decimal places) may be issued when the distributed profit does not warrant the subscription of a full unit. No subscription fees are levied for the issuance of these units. Dividends are disbursed from accrued profits generated or borne by the Management Company, at its discretion.

12. How can employees redeem their investments in the National Bonds Capital Protected Shari’a Compliant Fund?
In order for an employee to redeem his/her investments once he/she has left employment with the employer, the latter must pay the employee’s final month’s contribution and enter an exit date detailing the employee’s last day of service in their upload file on the NB portal. Employers must also ensure their employees’ contact and personal details are up-to-date and accurate. An automated leaver email is then sent to the employee through the digital portal and he/she is given the option to remain invested or request a full or partial withdrawal.
Employees can choose to stay invested in the Scheme, managing their accounts and benefits via the user-friendly portal.

13. Are there any penalties or fees for redemptions of units?
There is no redemption fee or penalties applicable in case of redemption of units.

14. As an employee, how can I access my account statement for National Bonds Capital protected Shari’a Compliant Fund under this scheme?
All registered employers will be able to provide their employees with access to the employee portal that will display the investment and profit details for each employee privately.

15. How can I register for the savings scheme?
Employers are able to register for the savings scheme on behalf of their employees by contacting National Bonds to initiate registration process.

16. Can I choose either a monthly contribution or lump sum payment for my voluntary contributions?
Voluntary contributions can be withdrawn or changed at any time

17. May I withdraw the basic subscription amounts from my savings plan account?
Withdrawal requests can only be made for voluntary contributions and can be requested from the employer.

18. Are there any Salary Deduction Limits for Voluntary Contributions and Lump-Sum Payments?
Monthly voluntary contributions cannot exceed 25% of total salary and lump sum payment cannot exceed 25% of annual salary.

19. What will happen to the subscription amount after an employee’s death?
In the event of an employee’s death, the investment fund will pay the subscription amount to the employee’s beneficiaries / heirs as applicable in line with the UAE's Court ruling and instructions.

20. When will the employees receive their end-of-service compensation and profit share?
The contributions will be entitled to the employee at the end of service.

21. Are employers permitted to modify the investment options for their employees enrolled in a savings plan?
A company cannot change the investment option for their registered employees, as unskilled employees are only eligible for the capital guarantee portfolio option, while skilled employees have the right to change their investment option (once made available by the Fund Manager) in accordance with their preferences.

22. Can I join the savings plan voluntarily, or is it mandatory?
Subscription to the scheme is optional for employers and madatory for employees once employer registers them for the scheme.

23. Can you explain what a capital protected portfolio is?
The capital protection offered by the fund is primarily derived from the nature of the underlying investments, specifically through Shari’ah-compliant fixed income products and deposits with banks licensed by the UAE Central Bank and Sukuk issued by the UAE’s Federal or Local Governments.

24. When should basic subscription amounts be paid and transferred to the savings plan’s account?
Within 15 days of starting of each calendar month.

25. Is it possible for employers to withdraw or recover the basic subscription amounts transferred?
Withdrawal of basic susbcription amount is only permittied upon termination of employee and paid out within 14 calendar days from termination date.

26. What services will the platform provide employees?
The platform allows employers to sync their records with MOHRE, assign employees to the EOSB scheme, make payments, approve voluntary contributions, and download reports.

27. What services will the platform provide employers?
The platform allows employees to see their contributions, track their gains, make voluntary contributions, and make withdrawals.

28. Is there any fees that I have to bear?
There are no fees for employees.

29. How do I get in touch for any technical difficulties?
Please call us on 600522279 for any assistance.

30. How is the employee verified?
Employees need to be verified before they can make a voluntary subscription or a withdrawal. Employees should upload a form of government ID (Emirates ID or Passport) and proof of address document.

31. What to Do If I Forgot my Password?
Click "Forgot password" on the sign-in page, and a recovery email will be sent to your sign-in email address.

32. How do I withdraw my voluntary subscription?
Sign in to the employee portal and select "Withdrawals" from the menu. You must complete verification to continue. Choose the amount to withdraw and check your IBAN is correct, then click "Withdraw funds".

33. How do I change my address in the Admin Portal?
Sign in to the employee portal and click on your initials in the top right corner. Click "Settings", then in "Account details" tab, scroll down to " Contact details". Click the edit button to change the address.

34. How to Add a New Employee for non-MOHRE companies?
Sign in to the admin portal and click "Employees" from the menu. Click "Manage employees" and select "Add single employee" or "Upload employee details".

35. How to change a password?
Click "Forgot password" on the sign-in page, and a recovery email will be sent to your sign-in email address.

36. How to Create a Company Profile?
Navigate to https://nbc-admin.aurem.ae and click "Sign up", or if you already have a company - click on the company name in the menu and click "Register new company".

37. How to Make Payments for my EOSB Contributions?
You will receive an email reminder and a task on your dashboard on the selected payroll date. The task will instruct you how much to pay, where to pay it, and what reference number to use.

38. How to Update an Employee’s Salary?
For MOHRE companies, update the salary with MOHRE and the new salary will be sent to the EOSB platform. For non-MOHRE companies, click on the employee record, click "Employment details" tab, and edit the salary.

39. MOHRE vs. Non-MOHRE Companies – Understanding the Differences?
On this platform, MOHRE companies have all the employee data synced from MOHRE - it cannot be edited by the company admin. Non-MOHRE companies (usually registered in free zones) do not have data synced with an outside source - all employee data is controlled by the company admin in the platform.

40. Understanding the Billing Cycle for Employer Accounts?
Employers select a billing date when creating a benefit. Seven days before the billing date a PDF is sent to the employer with a breakdown of the upcoming payment. On the billing date an email reminder is sent to the employer, and they can log in to process the payment. If the payment is not made, follow-up reminders are sent after 7, 15 and 30 days. MOHRE may impose penalties if payments are not processed after this time.

41. What Can I Do If My Company Is Not Verified?
If your company is not verified, reach out to the contact centre team to understand why. You may be able to get verified by providing more documents.

42. What Happens After Your Payment is Approved?
When your payment is approved, it is invested in the selected sub-fund. Investments, and market gains or losses, are displayed in the employee portal.

43. Reporting Incorrect Information on Your Employee Account?
You can review your personal information when logging in for the first time. If you notice anything incorrect, flag it here to send a notification to your employer. They will make the correction on the system or with MOHRE.

44. Voluntary Subscription?
Voluntary subscriptions can be made from your monthly salary as a recurring payment or one-time investment. Log in to the employee portal, select "Subscriptions" from the menu, and select the amount you would like to contribute. You must verify with your ID before continuing this process.

In case of any queries, who can I reach out to?
For queries or for more information, please contact our client service center at 600 522279
or email us at mohre@nationalbonds.ae