National Bonds flagship a year late

* username: rupertbu

The flagship property project of National Bonds, the Sharia-compliant investment scheme, will be delivered a year late while a second creekside development has been put on hold indefinitely and will not generate any returns in the near future, it has emerged.

The delays come as consumers who have invested in the savings scheme await news on whether they will receive any dividends for last year.

Bondholders received profits of 7.07 per cent for 2008 and 6.03 per cent in 2007. The company said last week that “the annual profit rate for 2009 will be announced shortly”.