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Deem Finance becomes the first employer to enroll in Daman Investments' end of service programme

A unique alternative gratuity solution approved by the Ministry of Human Resources and Emiratisation

Published: Mon 28 Oct 2024, 3:43 PM

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Deem Finance and Daman Investments CEOs Chris Taylor and Ahmed Khizer Khan signing the end of service programme partnership.

Deem Finance and Daman Investments CEOs Chris Taylor and Ahmed Khizer Khan signing the end of service programme partnership.

Deem Finance, a UAE-based, digitally-driven financial services provider, has announced a pioneering collaboration with Daman Investments, thereby becoming the first institution to participate in their newly introduced end of service programme.

The innovative initiative, which has received approval from the Ministry of Human Resources and Emiratisation (MOHRE), is designed to transform the financial future and well-being of private and public sector employees across the UAE.

The new alternative end of service programme, which is rigorously monitored and regulated by MOHRE and the UAE Securities & Commodities Authority (SCA), ensures that the end-of-service entitlements of UAE employees are not only protected but also invested prudently with fund managers licensed by the SCA.

Employers who opt into the voluntary scheme agree to contribute a fixed percentage of each employee’s basic salary to the fund every month, helping to secure the employee's future financial well-being. In addition to this, employees have a unique opportunity to boost their savings by making additional voluntary investments, which they can manage and redeem at their discretion, potentially enhancing their returns.

"At Daman Investments, we are committed to delivering innovative financial solutions that protect and grow wealth. Our collaboration with Deem Finance on the End of Service Program underscores our shared vision of enhancing financial security for employees across the UAE. By offering access to world-class investment opportunities, we are setting a new benchmark for employee welfare and empowering individuals to secure their future in a rapidly evolving market," said Ahmed Khizer Khan, CEO of Daman Investments.

Chris Taylor, CEO of Deem Finance, commented: “We are excited about our partnership with Daman Investments and the benefits it brings to all stakeholders. This collaboration allows us to focus on our core mission of driving innovation and growth, knowing that our employees’ financial future is in trusted hands. Being the first in our sector to offer this program demonstrates our commitment to leading the way in employee welfare.”

The programme offers employees access to Daman’s premium investment services, historically available only to institutional and professional investors, enabling them to build long-term wealth and achieve financial security.

By subscribing to the program, Deem Finance has set a new standard in enhancing employee benefits, reaffirming its commitment to prioritising employee well-being. Deem Finance’s decision to collaborate with Daman Investments reflects their confidence in the firm’s long-standing market position, credibility and ability to seek unique solutions to grow and protect their employees’ funds.



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