First Abu Dhabi Bank (FAB), the UAE’s largest bank by assets, has officially partnered with FinTech firm Aurem to provide the IT platform for its End-of-Service Benefits (EOSB) Savings Plan, as per information disclosed on the bank’s website, cited on 20 January 2025. This announcement follows the earlier update from October 2024, which disclosed the […]
Dear Ministerial Cabinet Resolution 96, Sorry, we’re a month late for your first birthday which was on 24 October 2024 but we’re here to wish you a very happy belated birthday! May your journey continue with success, growth, and greater achievements in the years ahead. We are taking this opportunity to reflect on your first […]
HAYAH Insurance (HAYAH), the first insurance company in the UAE to secure a fund management license from the Securities and Commodities Authority (SCA) in June this year, and a strong contender for UAE’s mainland End-of-Service Benefits (EOSB) Savings scheme, has announced a strategic partnership with additiv, a global leader in fintech, to deliver a comprehensive […]
The Ministry of Human Resources and Emiratisation (MoHRE) has updated the enrollment process for the EOSB Savings scheme, now requiring companies to directly approach approved fund managers instead of MoHRE. This change, communicated through MoHRE’s call center, modifies the previous requirements outlined in Article 4 of Cabinet Resolution 96. This change in process is expected […]
Following the publication of our previous article on the Financial Performance FY 2023 of Smart Pension Limited (“Smart Pension” or “Company”), Pensions Monitor was contacted by the Company who asked us to provide the readership with additional information on its current performance: The (unaudited) results for H1 2024 have improved significantly: EBITDA (that is: Earnings […]
The company Smart Pension Limited (“Smart Pension” or “Company”) is perhaps not a household name here in the GCC, however, it does play a very important role behind the scene. Smart Pension is the IT administration system that powers DEWS, the End-of-Service Benefits (“EOSB”) savings scheme in Dubai International Financial Center (“DIFC”). This scheme currently […]
In our previous articles we featured some startups that have appeared on the scene, including FinFlx, Aurem and Equevu. All of them offer some sort of investment product, linked to End-of-Service Benefits that is managed through an ‘in-house’ technology solution. Now it turns out that one more new provider has emerged – namely “Benefitster” (full […]
“Guaranteed return of 4-5% on a free-of-cost savings account in the UAE where you do not have to maintain any minimum balance and the full amount can be withdrawn at any time with no hidden charges whatsoever.” Sounds too good to be true and interestingly, it’s not provided by a bank. This flexible savings account […]
Uber and AirBnB are just two examples of venture capital-backed technology companies that have successfully disrupted an existing industry. With these success stories in mind, venture capitalists have looked in every field, and in every geography, to identify yet another industry that is ripe for disruption. The result – a huge tidal wave of money, […]
In October 2023, the UAE Cabinet announced a new alternative to the current End of Service Benefits (EoSB) system popularly known as indemnity. Let’s coin the new alternative as End of Service Savings (EoSS).