Emirati companies use savings programs to give their employees millions within 5 years

rawda samy - | UAE

To provide their employees with millions of dollars within a period of five years, Emirati enterprises implement savings schemes.

Employees of some companies in the Emirates become millionaires within a few years.

Some companies in the United Arab Emirates offer their employees the opportunity to become "millionaires" in as little as five years through the use of a savings program.

By participating in savings programs, individuals are also investing in their family members in the hopes of becoming millionaires within the next five to seven years.

The United Arab Emirates (UAE) is attempting to keep the top employees by offering them the opportunity to become "millionaires" through various savings programs. Through savings programs such as National Bonds' "My One Million" scheme, individuals are also investing for their children and wives in order to become millionaires in five to seven years. Companies are also making these investments.

Savings and investment programs for employees in the UAE.

There are initiatives that allow employees in the UAE to save money and invest it.

National Bonds, a company that specializes in savings and investments, introduced the "My One Million" plan in October of the previous year in order to fulfill the inhabitants' aspirations of becoming millionaires. According to the program's terms, both the employer and the employee are required to contribute to the program on a monthly basis. Additionally, the employees reinvested the profit they produced during the period, accelerating their progress toward the Dh1 million milestone.

The Group CEO of National Bonds, Mohammed Qasim Al Ali, stated that a large number of individuals invest their money with the company, which demonstrates a desire to win the company's millionaire draw.

In order to obtain their millions, we wanted to pay in a definitive manner. If they save a certain amount of money each month with us, they may reach Dh1 million in five to seven years, depending on how much money they have available each month. By reinvesting the earned profits back into the savings, one can reach one million dirhams significantly faster.

According to him, a company has agreed to participate in the "My One Million" plan, which requires employees to make a contribution of Dh7,500, and the employer will also pay the same amount. He provided an example to illustrate his point. Another company allocates Dh10,000, with employees contributing the remaining funds monthly to reach Dh1 million within five years. This means that all of the senior staff members of that company will be millionaires in five years. According to him, "They are utilizing this product in order to keep the talent."

Savings programs to give employees millions in Emirati companies

In addition, Al Ali mentioned that the majority of the businesses that have chosen to participate in this program are medium-sized businesses that recognize the importance of talent in order to sustain the firm's growth.

In his statement, Al Ali stated that it is up to the companies to determine which individuals or talents are essential for them to keep.

The company, which manufactures doors and windows, purchased this plan for its seven mid-level employees. The organization desired to keep these technicians and laborers on staff. According to the CEO of National Bonds Group, the employees invest Dh4,000, and the remaining amount will be given by the company in order to increase their chances of becoming millionaires within seven years.

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