EFS Facilities Services (EFS), a regional leader in delivering integrated facilities management services across the Middle East, Africa, South Asia and Turkey, today announced a tie-up with National Bonds Corporation, a leading investment company (owned by The Investment Corporation Dubai) offering innovative shari’a compliant savings and investments solutions , to launch an innovative Employee Savings Program to cover more than 3,500 site operations personnel at various projects across the UAE.
Under the scheme, EFS will gift a National Bonds Savings Certificate to its blue-collar employees, which will also be accompanied by a brief introduction about the importance of financial planning, discipline, savings, to create a long-term safety net for the financial security for their families.
The Employee Savings Program marks the commencement of a Financial Planning Campaign, led personally by Mr. Tariq Chauhan, Group CEO, to promote financial education and wellness practices oriented to help employees achieve financial security, inspired by the slogan ‘Save, Relax and Enjoy’.
Terming it a landmark initiative, Mr. Tariq Chauhan commented, “We are pleased to launch the innovative Employee Savings Program initiative for our site operations personnel across UAE, in association with National Bonds Corporation PJSC.
“We believe that the initiative, aimed at imparting important knowledge about the wisdom of saving and investing money to secure our future, is highly relevant and critical in today’s times. The gift of a National Bonds Certificate will endorse UAE as a primary destination to invest their savings to achieve sustained growth and returns on investment. We hope that a widespread adoption of this initiative will result in a substantial boost to the local economy and redirect a portion of the outflow of home remittances into local savings platforms, as a viable and sustainable investment channel.
“Stress related to financial security has unfortunately become rampant, especially under the prevailing socio-economic uncertainty around the world. We hope that the Savings Program will put their financial worries at ease, gift them with much-needed peace of mind, and empower them to focus on self-improvement and improve their productivity. “We are proud to be a People First organization and the Employee Savings Program is the first step in a series of several initiatives we intend to launch this year, as our way for thanking our site operations personnel who are the foundation and core of our growth and success. We will continue to unfurl other innovative campaigns to honor our commitment to the mental and physical well-being of the global EFS family, which today stands more than 15,000 strong.”
For his part, Mr. Mohammed Qasim Al Ali, CEO of National Bonds, said, “Inspired by the UAE Cabinet’s pioneering vision to mark 2017 as the Year of Giving, National Bonds is pleased to partner with EFS Facilities Services and register its more than 3,500 blue-collar staff across the UAE for our acclaimed Employee Savings Program. The gift of knowledge about financial discipline and regular saving will make a tangible difference to the quality of life of this EFS workforce and help them secure their financial future. Coincidentally enough, our National Bonds Savings Index had revealed that 22 per cent of the respondents in the low-income category in the UAE managed to save at least 10-20 per cent of their monthly income, which is relatively higher than the rest of the community groups in the UAE.
“We actively support the advancement of the vibrant and thriving global expat community within the UAE in line with our core business philosophy. We acknowledge the vital contribution of the blue-collar workers to the development of the UAE, especially that they are deprived of access to financial planning and savings schemes.
We hope that our partnership with EFS will encourage and lead to the launch of several similar community-focused initiatives across the nation. We call upon the expat community to continue to support the expansion of the UAE’s economy whilst building and protecting their savings through National Bonds’ unique rewarding scheme that is ethical, flexible, accessible and affordable to all segments of the UAE multinational society.”