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Astra Tech and National Bonds partner to offer Shari’a-complaint investments

By Leandra Monteiro

June 22, 2023

  • Al Manassah Platform
  • Asset Management
  • Astra Tech
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Astra TechAstra Tech, a consumer technology holding group based in the UAE, has signed MoU with National Bonds, a Shari’a-compliant savings and investment company, aiming to provide Shari’a-complaint saving and investment opportunities to millions of Botim users.

This partnership will give Astra Tech customers access to microfinance options specifically designed for individuals with low and medium incomes through Botim, supported by ‘Al Manassah’ Platform, owned by National Bonds. This platform will provide a convenient and transparent digital solution for corporates and individuals in the UAE seeking Sharia-compliant asset-backed financial solutions with end-to-end automation.

“We are excited to join forces with National Bonds to bring Shari’a-compliant investment opportunities directly to our vast user base of more than 150 million people,” said Abdallah Abu Sheikh, CEO of Astra Tech and Botim.

He continued, “Through this partnership, we are expanding our range of services and enabling our users to conveniently invest and save – these are two elements of finance which have always had high barriers of entry in the region, but we are slowly changing this for the better. Through the power of Botim, individuals can now effortlessly access and explore a wide range of investment opportunities, paving the way for a more secure and prosperous financial future.”

Mohammed Qasim Al Ali, Group Chief Executive Officer of National Bonds said, “We are delighted to announce our partnership with Astra Tech, as it perfectly aligns with National Bonds’ strategic vision of fostering collaboration with national companies. This strategic approach not only enables us to actively contribute to the financial prosperity and secure future of UAE citizens and residents, but also empowers us to reach out to a wider audience. Through our various programs and solutions, we aim to extend our impact and benefit an even broader range of individuals.”

With this unique collaboration, Botim is revolutionising how individuals in the UAE save and invest, making it more convenient than ever before. By joining forces with National Bonds, Astra Tech is propelling the UAE’s digital ecosystem to new heights, ensuring that the future of Sharia-compliant savings and investments is within reach for all.

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