Emirates NBD Partners With Fidelity International For UAE Workplace Savings Initiative

Emirates NBD has announced a partnership with Fidelity International, marking a significant step towards enhancing workplace savings solutions for UAE employers.

This MoU signifies a collaboration aimed at developing a new savings scheme for the workforce in the UAE, combining Emirates NBD's regional market insights with Fidelity's global prowess in long-term investment solutions.

The initiative is set to leverage Emirates NBD's extensive knowledge of the local market dynamics and the bank's Chief Investment Office and Asset Management capabilities. Simultaneously, it will benefit from Fidelity's international expertise in cultivating savings and investment solutions.

The goal of this partnership is to establish a workplace savings scheme that aligns with international best practices, ultimately providing UAE workers with a path to greater financial security in the future.

Marwan Hadi, group head of Retail Banking and Wealth Management at Emirates NBD, stated, "We are committed to making a meaningful difference in our communities. By offering tailored financial solutions, we empower our customers to make informed decisions about managing their wealth. Fidelity brings exceptional knowledge and experience to this partnership—benefiting clients who entrust their hard-earned savings to Emirates NBD."

Christian Staub, Fidelity International's head of EMEA and global head of Client Propositions, echoed this sentiment. "We are delighted to be partnering with Emirates NBD on this strategic initiative, utilising our global expertise in the long-term savings market to help create a new and innovative workplace solution for employers in the UAE. As a family and management-owned company we think generationally in terms of the services we build and provide.

"As we celebrate 25 years in the UAE, we have been, and remain, committed to working closely with our strategic partners to help them provide exceptional value to their clients now and in the years to come," he remarked.

This MoU comes at a time when the UAE government is actively pursuing reforms aimed at enhancing the country's appeal as a hub for investment, innovation, and entrepreneurship. These efforts are supported by initiatives to improve the quality of life and sustainability in the region.

Particularly, changes to the End of Service Benefit (EOSB) regime are anticipated to gain momentum, fueled by an increasing emphasis on financial security for both citizens and residents. Emirates NBD's commitment to this vision is evident in its support for creating a conducive financial ecosystem, which is crucial for attracting and retaining top talent while fostering economic growth.

An essential element of this initiative is the focus on boosting financial literacy among the UAE's working population. Here, Emirates NBD plans to utilise Fidelity's expertise to empower individuals, equipping them with the knowledge to secure a better financial future for themselves and their families over the long term.

This collaboration not only aims to redefine workplace savings in the UAE but also reflects a shared commitment to fostering financial well-being among the workforce, thereby contributing to the broader economic development of the country.