FAB End of Service Benefits Funds secure final approval, marking a new era for employee financial well-being in the UAE

 

 

First Abu Dhabi Bank (FAB), the UAE’s global bank and one of the world’s largest and safest financial institutions, has received final approval from the Ministry of Human Resources and Emiratisation (MOHRE) and the Securities and Commodities Authority (SCA) to launch its FAB End of Service Benefits Funds. 

 

Following this milestone, FAB End of Service Benefits Funds are now available to all private sector entities across the UAE. This empowers businesses to invest and improve their employees’ end-of-service benefits (EOSB) as part of the UAE government’s new Alternative EOSB Savings Scheme, with the first participating business successfully onboarded.

 

Designed to enhance employees’ long-term financial security, the initiative streamlines end-of-service benefits management for businesses, enabling them to attract, retain and support talent more effectively. To ensure seamless accessibility and ease of use, FAB has also introduced a cutting-edge digital platform that is fully integrated with the UAE Savings Scheme – offering businesses and employees an efficient and secure way to manage end of service benefits.
Seamless digital access for employers and employees

 

Designed with an intuitive interface, the platform enables employers to process, track and manage all end of service contributions, while employees can view and monitor investments in real-time, aligning with the needs of a modern, digitally-savvy workforce.

 

FAB has partnered with global industry leaders to provide a secure and reliable platform and user experience, including Apex Group for fund administration, Aurem for technology platform, and Deutsche Bank (DB) Securities for custody services. 
Aligned with the UAE government's vision to cultivate a competitive and future-ready labour market, FAB is a key partner in the seamless integration of this innovative benefits system. The platform’s digital-first approach enhances adoption and ensures a smooth, user-friendly experience for both employers and employees.

 

This advancement modernises the end-of-service benefits landscape and strengthens the UAE’s broader vision of fostering financial growth and stability for employees. By supporting improved financial outcomes, FAB End of Service Benefits Funds create a win-win scenario for employers via streamlined benefit management, and employees, who gain greater control over their financial futures. This initiative underscores the bank's commitment to innovation and strategic partnership with the UAE government, driving the evolution of workforce benefit structures to meet the demands of today’s dynamic and diverse market.

• FAB End of Service Benefit Fund with Capital Protection: Invests in money market instruments to create stability and liquidity
• FAB Islamic End of Service Benefit Fund with Capital Protection: Invests in Islamic money market instruments to create stability and liquidity

 

FAB will soon introduce additional risk-based investment options, offering both conventional and Shari’ah-compliant strategies tailored to different financial goals.
The Funds are managed by FAB Asset Management, one of the largest MENA-focused managers, with over two decades of regional experience. FAB Asset Management’s investment expertise spans various asset classes, serving a diverse client base that includes sovereign wealth funds, pension funds, foundations, financial institutions, family offices, insurance companies, and individuals.