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Middle East Wealth Management Forum 2020 - Exclusive Insights - Martyn Crespel

Martyn Crespel of PraxisIFM

Jan 31, 2020

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1. End of Service Benefit within ADGM/Abu Dhabi: What are the main considerations?

Video transcript

1. End of Service Benefit within ADGM/Abu Dhabi: What are the main considerations?

For the end of service gratuity scheme, we're lucky to have a government entity as our anchor client. It is quite clear that they want to do the right thing for their employees. We think that the government of the UAE are also quite keen, having seen some rather high-profile bankruptcies where employees have been left with largely nothing in the scheme because there is no legal requirement to separate the fund from the balance sheet. We are aiming to re-educate companies to help them in reorganising, helping them to identify the risk, and to identify how we can get them to where they need to be, at the same time protecting the employees' rights.

 

 
 
 
 

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