“Daman Investments” has announced the signing of a memorandum of understanding with “Allianz Global Investors,” one of the leading global active asset management firms, to collaborate on offering risk-based investment options within Daman’s end-of-service program approved by the Ministry of Human Resources and Emiratisation.
This initiative will enhance the existing program, which currently provides a savings solution with capital protection for end-of-service benefits, by introducing additional investment options that afford employees greater flexibility in managing their savings.
Shehab Gargash, Founder and Chairman of Daman Investments, stated, “We are honored to be among the approved service providers by the Ministry of Human Resources and Emiratisation for managing end-of-service entitlements in the UAE. Our collaboration with Allianz Global Investors reaffirms our commitment and belief in the strength and stability of the UAE economy.”
Ahmad Khadr Khan, CEO of Daman Investments, remarked, “The UAE continues to make significant strides in modernizing workplace savings frameworks. Through this partnership, we aim to build upon the foundation established by Daman’s end-of-service program by providing additional investment options that cater to the evolving needs of employers and employees.”
Alexandra Aur, Head of Distribution for Europe, Middle East, and Africa at Allianz Global Investors, expressed, “We are pleased to collaborate with Daman on this initiative as part of our ongoing commitment to the region. The UAE represents a key market for long-term savings solutions, and we look forward to leveraging Allianz Global Investors’ expertise in comprehensive retirement solutions through this collaboration.”