Dubai, UAE – Deem Finance, a UAE-based, digitally-driven financial services provider, is pleased to announce a pioneering collaboration with Daman Investments, thereby becoming the first institution to participate in their newly introduced End of Service Program, which has received approval from the Ministry of Human Resources and Emiratization (MOHRE). This innovative initiative 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 Program, 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.”, stated, Mr. Ahmed Khizer Khan, CEO of Daman Investments.
Mr. 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 program 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 prioritizing 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.
About Deem Finance:
Deem Finance LLC is a digitally-led financial services provider established in 2008 and regulated by the Central Bank of the UAE. The financial service provider was acquired in September 2021 by the Gargash Group, one of UAE’s leading business conglomerates. With a commitment to innovation, Deem Finance LLC offers a wide range of personal and corporate financial services, including credit cards, personal loans, merchant financing, auto loans, and corporate investments.
About Daman Investments
Daman Investments stands as a preeminent regional investment firm, distinguished for its comprehensive suite of non-banking financial services catering to institutional clients, corporations, SMEs, and high-net worth individuals. Daman Investments stands as a preeminent regional investment firm, distinguished for its comprehensive suite of non-banking financial services catering to institutional clients, corporations, SMEs, and high-net-worth individuals. Our overarching objective is to assume a pivotal role in the burgeoning new Arab World Economy. Propelled by unwavering commitment to ethics, excellence and client-centricity, we offer innovative and bespoke solutions to assist you in not only meeting but surpassing your financial aspirations.
With a legacy spanning over 25 years, Daman Investments has consistently redefined the contours of the financial services landscape.