National Bonds Corporation, a Shariah-compliant savings scheme partially owned by the Government, plans to grab opportunities created by the global credit crisis and become a major regional private equity investor this year.
“During crises, people will save,” said Mohammed Qasim al Ali, the chief executive of National Bonds. “It is going to be a good year for private equity. A lot of businesses are going to be suffering from a shortage of liquidity.”
The company, which was founded in 2006, has Dh3 billion (US$817 million) worth of assets under management and about 500,000 bond holders. Investors received a 7.07 per cent return on their investments last year and the chance to win monthly prizes of up to Dh1m, the company said.
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