Dubai International Financial Centre (DIFC) has announced that its DIFC Employee Workplace Savings (DEWS) scheme has surpassed $1bn (AED 3.67bn) in assets under administration (AuA), marking a major milestone for the region’s most progressive workplace savings initiative.
Launched in February 2020, DEWS was the first plan of its kind in the Middle East, replacing the traditional end-of-service gratuity system with a fully funded and professionally managed savings plan that prioritises transparency, sustainability and long-term employee financial security.
Since inception, DEWS has attracted significant participation across the DIFC community and expanded to cover expatriates in 61 Government of Dubai entities.
Dubai savings scheme
To date, 2,726 employers have enrolled and 74,323 employees are registered, benefitting from regulated savings and the opportunity to grow their end-of-service benefits through diverse investment options.
In addition to the $1bn held in assets, payouts to previous participants have exceeded $340m (AED1.25bn), reflecting high levels of trust among employers and employees in the scheme’s governance and regulatory framework.
Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai and Chairman of the Steering Committee of the Savings Fund for the Employees Working in the Emirate of Dubai, said: “Dubai continues to pursue sustainable growth by placing people at the heart of this development, reflecting the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai.
“The success and performance of the DEWS scheme underscores the Dubai Government’s commitment to providing new investment opportunities for individuals, companies, and institutions. Such pioneering initiatives are instrumental in ensuring a better future for the community.
DIFC initiative
“Furthermore, effective public-private partnerships are vital; they align with the objectives of the Dubai Economic Agenda (D33), enhance employee benefits, and provide long-term financial security for employees. This comprehensive strategy consolidates Dubai’s position at the forefront of the world’s most competitive cities.”
Essa Kazim, Governor of DIFC, said: “Reaching over $ 1bn in assets under administration in just over five years is a remarkable achievement for DEWS.
“This groundbreaking scheme has safeguarded the financial futures of close to 75,000 employees. Additionally, it has strengthened Dubai and DIFC’s ability to further attract and retain the very best global talent to work for companies in the region’s pre-eminent global financial centre and government entities.
“Aligned with the Dubai Economic Agenda (D33), DEWS is an integral part of DIFC’s long-term vision to become a top four global financial centre, and reinforce Dubai’s reputation as a leading city to live and work in.”
Progressive savings
Arif Amiri, CEO of DIFC Authority, said: “Surpassing $1bn in assets reflects the confidence of employers and employees in DEWS, as well as DIFC’s role as a catalyst for advancing progressive initiatives that support the Dubai Economic Agenda (D33).
“The scheme’s success is a testament to DIFC’s ability to create innovative solutions that generate long-term value. DEWS is a clear example of how DIFC is further enhancing Dubai’s reputation as the region’s leading business-friendly destination, supports employers in adopting global best practices, and reinforces the city’s attractiveness for international talent.”
The success of DEWS is supported by a consortium of international partners:
- Equiom serves as the master trustee, providing independent oversight to safeguard members’ interests
- Zurich Workplace Solutions (Middle East) acts as the plan administrator, ensuring seamless operations
- Mercer, one of the world’s leading investment advisors, manages the underlying funds, offering members a professionally managed portfolio of diversified investment options
Together, these partners have helped position DEWS as the benchmark for workplace savings in the Middle East, advancing financial literacy and employee well-being while reinforcing Dubai’s leadership in sustainable finance and governance.
Regulatory strength
By combining regulatory strength, transparency, and innovation, the DEWS scheme has become a flagship example of Dubai’s people-first economic model.
It continues to empower employees with financial security and long-term savings, while helping employers adopt international best practices.
As DEWS surpasses the $1bn threshold, it highlights the emirate’s commitment to modern, inclusive financial systems that strengthen both its workforce and its competitiveness as a global financial hub.
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