Botim users to benefit from Astra Tech, National Bonds saving, investment solutions

Image: Astra Tech

UAE-based Astra Tech has signed a memorandum of understanding (MoU) with National Bonds to provide Shari’a-compliant saving and investment opportunities to millions of Botim users. 

This partnership gives 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.

The 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.

Leveraging Botim to make investment easier

In addition, customers will have the chance to invest in saving certificates through Botim, a platform used by 10 million active users in the UAE and 150 million users worldwide. This partnership opens up exciting opportunities for Astra Tech customers to improve their financial well-being and grow their savings.

“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. “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.”

Mohammed Qasim Al Ali, group CEO 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.”

Astra Tech recently launched its first autonomous shopping store in Abu Dhabi’s Sky Tower, the brick-and-mortar location which operates only using artificial intelligence.

Read: Now pay for groceries using facial recognition at Astra Tech’s new B Store