Samca,
I agree with what-to-do. This is the Middle East, and I think the bond should be the least of your worries. There are lots of things that are simply 'this is the deal; take it or leave it'. There's no negotiation on our part, and no escaping the consequences.
Whether or not it's 'fair' doesn't come into it. (Personally, I probably agree with you! I don't think it is!) But that's the terms that they set out, and there's no getting round it.
One or two people have not liked it and literally run away, but most people stick it out for a few years at least. If you decide to run, then you can forget getting your logbook signed by the company of course!
My advice would be to come out here and visit. Try and see if you can picture yourself and your wife living here. That's usually the thing that breaks people. If you don't like it, then with a 737 rating, there should be plenty of other options around the world for you.
Oh, and we get 6 weeks leave per year, assigned a year in advance. So you can position these through the year to ensure you get home every 2 months. Getting blocks of days off through bidding, as a new joiner, is nearly impossible.
Hope that helps.