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 […]
It is now nearing a year since the introduction of the new alternative End-of-Service Savings (EoSS) scheme by MOHRE and SCA. So far, there are only two approved providers for the scheme and even so, as of date (August 2024), there are no active products in the market. Reason: The two approved providers are pure […]
“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savings account in the UAE where you do not have to maintain any minimum balance and the full amount can be withdrawn at any time with no hidden charges whatsoever.”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, […]
This article is authored by Ruan van Rensburg, Executive Director at Lux Actuaries and Consultants and was first published by the DIFC Insurance Association on 9 July 2024 and updated on 11 July 2024. Members in the DIFC will be well acquainted with DEWS – a defined contribution saving scheme that replaced the old unfunded […]
Hot on the heels of Daman Investments, it has been revealed that Hayah Insurance has received approval by the Securities & Commodities Authority (SCA) for its End of Service Saving (EoSS) product. We are still awaiting details for Hayah’s offering, but let us briefly summarise a few key points: Firstly, it has to be noted […]
Once the new end-of-service savings scheme (‘EoSS’) takes off in the UAE, and once it becomes compulsory, every month, every single employer will pay a certain percentage of every single employee’s salary into investment funds. Question: How much money will there be in these funds, after one year, after five, after ten? The answer to […]
Ever since the new End-of-Service Savings (‘EoSS’) scheme was announced by the UAE’s Cabinet of Ministers late last year, rumours have been doing the rounds on who will enter the market first and launch a compliant EoSS product. Fund managers For Fund Managers, EoSS is literally a dream come true with the opportunity to significantly […]