Lunate receives MoHRE, SCA initial nod to offer EoSB investment offerings

ADGM-based Lunate Capital (Lunate) has received initial authorisation from the Ministry of Human Resources and Emiratisation (MoHRE) and the Securities & Commodities Authority (SCA) to become the first Abu Dhabi-based fund manager and Administrator of the UAE’s voluntary alternative end-of-service benefits (EoSB) scheme through the newly licensed Lunate EoSB Fund. Approved by a UAE Cabinet Resolution in 2023, the Voluntary EoSB scheme offers an alternative to the traditional single-payout system for end-of-service benefits. It allows private sector employers in the UAE to invest employees’ end-of-service gratuities as monthly contributions into licensed investment funds accredited by MoHRE and the SCA. This scheme aims to provide more control and choice over savings plans, marking a significant step forward in safeguarding workers’ financial entitlements and enhancing the UAE’s attractiveness as a destination to work and live. Lunate is the first Abu Dhabi-based entity to receive initial authorisation under this scheme. The company’s local and global investment expertise will be leveraged to provide participants and their employees with opportunities to grow their entitlements through professionally managed investment funds.

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