Lunate Capital, an Abu Dhabi-based global investment manager, announced the launch of Ghaf Benefits – an alternative end-of-service benefits fund platform.
The platform is available for private sector employers and their employees across the UAE.
The company said it has been launched in alignment with the Ministry of Human Resources and Emiratisation’s (MoHRE) efforts to enhance workplace benefits in the UAE.
The new scheme empowers employers to channel their employees’ end-of-service gratuity into funds that are licensed by the Securities and Commodities Authority (SCA) and regulated by both MoHRE and SCA.
The funds, managed by Lunate, enable employees to receive potential investment returns upon the completion of their employment and aim to provide a financial foundation for their future.
ADQ explores Ghaf Benefits adoption
Abu Dhabi-based ADQ, a sovereign investor with a focus on critical infrastructure and global supply chains, has signed an MoU with Lunate outlining its intention to explore becoming one of the first adopters of the Ghaf Benefits solution, the company said.
Ghaf Benefits will offer a selection of six investment funds covering both conventional and Shariah-compliant investment options to align with individual risk-return preferences, covering capital protection, conservative and balanced strategies.
Additionally, both employers and employees will have the ability in the future to supplement fixed contributions with additional voluntary contributions.
Lunate will partner with globally renowned service providers to provide operational support and technology solutions to Ghaf Benefits.
Seif Fikry, Managing Partner at Lunate, said Ghaf Benefits not only provides a robust platform for employers to invest in their employees’ future but also supports the UAE’s efforts to foster a more attractive and rewarding working environment in the UAE.
“With interest from leading organizations like ADQ the scheme will start on a strong foundation. We look forward to supporting many more organizations in empowering their workforce through our global investment expertise and customized financial products and solutions,” he said.
The UAE’s Alternative End-of-Service Benefits Scheme was first approved by a Cabinet Resolution in 2023 as a voluntary scheme designed to enhance financial security for UAE-based employees.
It offers greater control over savings plans, aligning with individual financial goals.
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