Lunate launches Ghaf Benefits to provide solution for new End of Service Benefits scheme in the UAE

Abu Dhabi, 4 February, 2025 – Lunate Capital LLC (“Lunate”), an Abu Dhabi-based global investment manager, today announced the launch of Ghaf Benefits, Lunate’s Alternative End-of-Service Benefits fund platform (“Ghaf Benefits”). Lunate’s Ghaf Benefits is now available for private sector employers and their employees across the UAE, in alignment with the Ministry of Human Resources and Emiratisation’s (“MoHRE”) efforts to enhance workplace benefits in the UAE. Lunate’s Ghaf Benefits is named after the Ghaf tree, the UAE’s national tree, renowned for its resilience, stability and strength.

Ghaf Benefits supports the UAE’s efforts to enhance end-of-service benefits, serving as a powerful tool for employees’ financial growth and security, while simplifying benefits management for employers. It 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.

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. ADQ’s potential enrolment would underline its commitment to attracting top talent and offering a globally competitive employee proposition.

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, commented, "We are delighted to announce the launch of Ghaf Benefits, a transformative initiative that underscores our commitment to the UAE’s progressive strategy for gratuity benefits. 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."

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. The Scheme also aims to bolster the UAE’s appeal as a prime destination for international talent.

For more information, employees and employers can reach out to eosb@lunate.com or contact +971-2-692-7213 or visit www.ghafbenefits.com.