National Bonds, the UAE’s leading Shari’a-compliant savings and investment company, has partnered with Hala Ride, Dubai’s most convenient e-hailing taxi solution, to introduce a unique financial security solution for Hala Ride employees – the Golden Pension Plan (GPP). This collaboration underscores National Bonds’ commitment to fostering financial well-being and supports Hala Ride employees in securing their financial futures.
The GPP is designed to provide companies like Hala Ride with a flexible, cost-effective means of offering long-term financial benefits to their employees that can help them grow their end-of-service benefits as part of their retirement planning. Hala Ride can contribute either lump sum amounts or monthly deposits into the GPP on behalf of the employees, establishing a dedicated savings pool. These contributions, akin to End of Service Gratuity (EOSB) funds, accumulate profit and rewards, which are then distributed to the employees, with the fund’s control remaining under Hala Ride.
“This strategic partnership with Hala Ride demonstrates our commitment to offering accessible and secure investment opportunities to UAE citizens and residents, empowering them to take charge of their financial decisions and effortlessly achieve future milestones, including retirement,” said Mohammed Qasim Al Ali, Group CEO of National Bonds. “The GPP offers Hala Ride employees a convenient and secure way to save for the long term, fostering a culture of financial independence and security within the workforce. Additionally, this plan aids companies in employee retention by providing attractive financial benefits, showcasing National Bonds’ dedication to offering solutions for individuals and corporates alike.”
Khaled Nuseibeh, Chief Executive Officer at Hala commented: “Our partnership with National Bonds to enroll our employees into the Golden Pension Plan is a pivotal step in our commitment to the financial well-being of our employees. At Hala, our employees are central to our success, so this initiative provides them with a secure and transparent way to plan for their future. It reflects our dedication to creating a supportive and forward-thinking workplace. We are proud to collaborate with National Bonds, a trusted leader, to deliver a program that not only enhances our employees’ financial planning but also sets a new benchmark for employee benefits in the industry.
With employees’ financial wellbeing being a focus, National Bonds has enrolled over 100 companies, and more than 18,000 employees since its inception in its Employee Savings Program, with GPP being the latest addition to its array of tailored-made products based on its corporate customers’ demand. This comes in line with the UAE government’s recent announcement on enhancing End-of-Service benefits to protect workers’ savings and ensure they were invested safely, the plan provides transparency by allowing employees to track their EOSB accumulation, profit returns, and potential rewards from National Bonds’ AED 35.5 million Rewards Program. The GPP also ensures enhanced security through Shari’a compliance, giving employees peace of mind regarding their savings.
Through this partnership, National Bonds and Hala Ride set a new benchmark in employee financial well-being, promoting a culture of savings and investment that benefits both employees and the broader economy. The Golden Pension Plan represents a significant step in advancing financial literacy and security among the workforce, empowering employees to plan confidently for a prosperous future.
