Anyone interested in a premium bond type lottery try these

http://nationalbonds.ae/


Better odds than the Dubai Millionaire and I beleive you get interest as well.

Good luck

TS

National Blonds...................

Possibly the worst thing to buy...ever.

Ever?

whyso?

????????

By the way these bonds are Sharia compliant, which means no interest! And not sure what the odds of winning are, since there is not much information available

ADCB also have a similar scheme - you invest AED 20k in a Fixed Deposit at 2.5% pa and you stand a 1 in 5000 chance of winning $1 million.



IG

Fair do's IG.... there is no interest, however at the end of each financial year, 20% of all profits made will be redistributed pro rata to all bond holders.

It's the Sharia equivalent of interest.

Cheers
TS

Mmmmm TS, looks interesting. Let me figure this one out.......will let you know more shortly


The only draw back I see now is they are not demat - In case of redemption, you have to mail the original certificates to a PO Box . There is no confirmation of receipt .......... What happens if you lose the certificates or they claim you didn't send them I would be more comfortable if the redemption was handled by a Bank/ or you atleast get a receipt when you submit the bonds for redemption

Ciao

IG

As you have said redemption is typical UAE style with few safegaurds. I'm sure this will change as the country's admin drags itself out of the middle ages. I'm still looking fwd to getting a new cheque book automatically.....!!!

Such is life.... I'll be buying a few bonds 2mrw.... before the next draw.... i'l keep u posted....

Good Luck TS!!! Hope you win the grand prize, you can treat us all then

BTW...their ass-backwards way of doing things is how they will protect their asses when it all comes crumbling down...

TA5 ...........no need to worry about their asses which is anyway protected (considering who the shareholders are)

It is the investors who will need to protect theirs, if at all

It still amazes me how expats would even consider wasting a dirham on any investment product developed locally when most of us come from countries with centuries old proven investment and banking methods...

Because expats for some bizarre reason always seem to get sucked into these 'get rich' schemes. Lost count of the number of people I worked with in Saudi who lots thousands to so-called investment advisers (usually British conmen).

U r easily amazed then Norm.........