Dubai: UAE-based savings and investment company National Bonds announced that it has signed a partnership deal with the voice and video calling app Botim to offer its savings and investment solutions directly through the platform.
National Bonds' financial solutions will be integrated into the Botim App after the service launches. Users can open accounts with National Bonds directly through the Botim platform.
The companies said in a joint statement on Tuesday that the availability of National Bonds' services on Botim, owned by the consumer technology holding group Astra Tech, will enable the app's nine million users in the UAE to begin their savings journey.
“This collaboration significantly broadens the reach of savings and investment solutions for our users in the UAE, promoting a culture of savings and financial well-being,” the statement added. Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim, said, “The collaboration with National Bonds is not just a business milestone; it is a leap forward in offering savings solutions that resonate with our commitment to enhancing the financial landscape.”
He added, “Botim users now have a unique opportunity to invest and save in a way that aligns with their values. This initiative is a testament to our dedication to building the region's most extensive and inclusive tech ecosystem.”
Competitive returns
The collaboration is expected to help Botim users earn competitive returns. They would also be eligible for the Dh35.5 million National Bonds rewards program.
Mohammed Qasim Al Ali, Group CEO of National Bonds, said, “By integrating our digital savings service into the Botim app, all Botim users now have real-time seamless access to our innovative savings products. This aligns perfectly with the UAE's vision for a digitally advanced society.”
In 2022, Astra Tech acquired PayBy, Rizek, and the VoIP app Botim, creating an Ultra App under Botim's umbrella. The app currently operates in 155 countries and offers additional services such as international money transfers, bill payments, and UAE visa services. Last week, Botim launched a send now, pay later (SNPL) remittance service, allowing the calling app’s users to send money internationally with instant transfers while deferring payments.
“Users can send money abroad and pay later in manageable instalments, providing much-needed relief during financially demanding periods, such as month-end,” the company said in a statement. And in April this year, Abu Dhabi Islamic Bank (ADIB) also partnered with Astra Tech to provide users nationwide with access to financial services on the Botim Ultra app.
