Harbour Real Estate Becomes First Private Company To Join National Bonds’ End-of-Service Savings Scheme

Harbour Real Estate has become the first private company to adopt a new end-of-service benefits system. This initiative is supervised by the Ministry of Human Resources and Emiratisation, in collaboration with the Securities and Commodities Authority. The move highlights a trend where companies aim to offer secure investment benefits, enhancing employee savings and boosting the UAE's labour market competitiveness.

The programme allows Harbour Real Estate employees to invest in the "National Bonds Capital Protected Shari’a Compliant Fund." This fund provides low-risk investment options with stable returns throughout their employment. Employees can also voluntarily contribute up to 25% of their annual salary, promoting better financial planning and helping them reach long-term savings goals.

Dr. Mohanad Alwadiya, CEO of Harbour Real Estate, expressed pride in being the first private-sector participant in National Bonds’ scheme. He stated, "We are proud to be the first private-sector company to join National Bonds’ end-of-service savings scheme, reflecting our support for innovative government initiatives that promote transparency and encourage employers to channel end-of-service funds into approved, locally managed solutions such as National Bonds."

The "National Bonds Capital Protected Shari’a Compliant Fund" is among the initial approved funds under this voluntary scheme. It offers employers a safe way to invest employees' end-of-service benefits while ensuring competitive returns aligned with market trends. The fund's digital smart application enhances user experience by allowing employees to monitor their investments anytime.

Mohammed Qasim Al Ali, Group CEO of National Bonds, highlighted the trust companies place in their programmes: "Harbour Real Estate’s participation reaffirms the growing trust companies place in National Bonds’ programmes. With more than 19 years of experience in the UAE’s savings and investment landscape, we have built a reputation as a reliable partner for both public and private entities."

This initiative not only aids employees but also benefits employers by simplifying management of employee entitlements. It reduces administrative tasks and enables companies to offer attractive benefits that help attract and retain skilled workers.

Commitment to Employee Welfare

Dr. Alwadiya further emphasized their commitment: "This step also underscores our commitment to offering our employees a stable and forward-looking work environment, enabling them to build a more secure financial future through savings options that protect their rights and meet their long-term aspirations."

The adoption of this system by Harbour Real Estate signifies an important shift towards sustainable employee benefit solutions. It reflects an increasing awareness among businesses about providing future-focused savings systems that benefit both employers and employees.

With inputs from WAM