• Initiative is now live, with the first client successfully onboarded
  • New FAB digital platform enables seamless access and participation with the UAE government’s alternative end of service benefits scheme

Abu Dhabi: 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.

Tailored investment strategies

FAB End of Service Benefits Funds currently offer two capital-protected investment options:

  • 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.

For more information, please visit FAB End of Service Benefits Funds, call +971 02 499 6333 or email FABEOSB@bankfab.com.

-Ends-

ABOUT FIRST ABU DHABI BANK

Headquartered in the United Arab Emirates, First Abu Dhabi Bank (FAB) is one of the UAE’s global bank and one of the world’s largest and safest financial institutions, with total assets of AED 1.21 trillion (USD 330 billion) at the end of December 2024 and a credit rating of Aa3/AA-/AA- from Moody’s, S&P and Fitch respectively, with a stable outlook.

FAB provides financial services and expertise across five business units – Investment Banking, Corporate and Commercial Banking, Consumer Banking, Private Banking, and Global Markets – through an international network that covers 20 markets worldwide.

Listed on the Abu Dhabi Securities Exchange (ADX), FAB is a leading Islamic finance provider and a pioneer in sukuk issuance offering comprehensive Shari’ah-compliant products. FAB is also a regional leader in sustainability, with an MSCI ESG rating of ‘AA,’ and ranked among the top 5% of banks globally according to Refinitiv’s ESG scores. The bank also received a regional-best Low ESG Risk evaluation from Sustainalytics, and the highest CDP score among UAE banks. FAB currently chairs the Net-Zero Banking Alliance (NZBA) Principals Group and was the first GCC bank to join the UN-convened organisation in 2021.

For more information, visit: www.bankfab.com

For investor-related queries, please contact the FAB Investor Relations team on ir@bankfab.com.

For PR and media-related queries, please contact PRandmedia@bankfab.com.