Since the UAE’s new alternative End-of-Service Savings scheme was announced last year, many fund managers, banks and insurers have been racing to structure and launch a compliant product offering. The question was: Who would be the first to market? This was recently confirmed. Congratulations to Daman Investments PSC (Daman Investments) and Lunate Capital LLC (Lunate) for becoming the first two accredited fund […]
Back in 2020, Dubai International Financial Centre (DIFC) introduced the DIFC Employee Workplace Saving scheme, better known as DEWS. DEWS essentially restructured the old ‘defined benefit’ (DB) End-of-Service gratuity plan in the DIFC into a funded ‘defined contribution’ (DC) plan. In short, employers pay a percentage of employee wages as monthly contributions and each employee […]