First Abu Dhabi Bank (FAB), one of the largest and most reliable financial institutions in the world and the global bank of the United Arab Emirates, has received final approval from the Ministry of Human Resources and Emiratization (MOHRE) and the Securities and Commodities Authority (SCA) to launch its FAB End of Service Benefits Funds. Now, FAB End of Service Benefits funds are available to all private sector participants across the entire United Arab Emirates, allowing companies to invest and improve payouts upon termination of employment for their employees within the framework of the new alternative scheme for accumulating funds.
The initiative aims to improve the financial security of employees in the long term and simplify the management of payouts upon termination of employment for companies, allowing them to more effectively attract, retain, and support talented employees. Within this program, FAB has introduced a high-tech digital platform, fully integrated with the UAE's accumulation scheme, which provides companies and employees an effective and secure way to manage payouts upon termination of employment.
The platform is designed with an intuitive interface, allowing employers to process, track, and manage all claims upon termination of employment, while employees can view and track their investments in real-time, corresponding to the needs of modern digital auditing. Within this program, FAB collaborates with leading global companies to ensure the safety and reliability of the platform and user experience.
Such an initiative contributes to improving financial results and ensures more convenient management through optimizing the structure of payouts upon termination of employment for both employers and employees, who gain greater control over their financial prospects. The investment experience of FAB Asset Management encompasses various classes of assets and serves diverse clients, including sovereign funds, pension funds, financial institutions, family offices, insurance companies, and individuals.
