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 Sharia-compliant National Bonds Corporation recently released its 2015 Savings Index findings, which shows an increased 30 per cent of the respondents in the UAE regarded last year as suitable for saving, compared to 26 per cent in 2014.

While 36 per cent of UAE nationals and 34 per cent of Asian respondents thought 2015 was suitable for saving, 35 per cent of Arab expatriates thought 2015 was unsuitable for saving, and 61 per cent of Western expats preferred not to answer.

Responding to questions on why 2015 was a good year for saving, 44 per cent of the respondents cited better available investment opportunities in the UAE.

On the flip side, 45 per cent said that high living expenses and inflation were the main reasons that 2015 was not suitable for saving. Interestingly, 44 per cent of the respondents expected their income to increase in 2016.

The report was based on a survey conducted among 2,000 respondents in the GCC region.

The survey aimed to gain feedback on three key areas - financial stability, potential of saving and existence of an enabling saving environment in their respective countries. Out of the total sample size, nearly 700 comprised UAE residents of Emirati, Arab, Western and Asian nationalities.