HAYAH Insurance has received licence approval from the Securities and Commodities Authority (SCA) to manage corporate pensions in the UAE.
The pioneer of the first and only pension plan approved by the Central Bank of the UAE (CBUAE) in 2021, HAYAH said in a statement on 13 June it was “set to provide comprehensive pension management services with greater depth and regulatory compliance”.
With the licence approval, HAYAH said it was prepared to:
1. Deliver tailored pension solutions: Provide customized pension management strategies that cater to the specific needs of businesses across the UAE and the broader region.
2. Ensure robust regulatory compliance: Uphold the highest standards of transparency and trust, aligning with regulatory requirements to foster client confidence.
3. Enhance investment management services: Bolster investment management capabilities to drive superior financial outcomes for corporate clients.
Mohamed Seghir (pictured), CEO of HAYAH Insurance, said: “Securing this licence marks a new chapter in our journey, reinforcing our ability to deliver comprehensive, reliable, and top-tier pension management solutions. With an established pension plan already in use by multiple customers, we are proud to support the government’s efforts in maturing the pension environment and building a sustainable future for UAE society.
“Our expertise, world-class experience, and commitment to innovation position us as the foremost provider of pension solutions in the region.”
HAYAH further said its approach to pension management was “both comprehensive and digital. The fully digital administration ensures that businesses can manage their pension obligations with ease and efficiency. This seamless process is in line with HAYAH’s mission to deliver top-quality service and support to clients”.
Adil Saghir, head of pensions and end-of-service benefits at HAYAH Insurance said: “Acquiring our SCA licence allows us to align with the government’s initiative to assist employees across the United Arab Emirates in planning for their future, including both mainland and Free Zone areas.
“This licence goes beyond regulatory compliance; it attests the superior quality of our retirement solutions, meticulously designed to meet aspirations and ensure financial security for all. Our mission is to ensure that every employee can anticipate a future that is not only financially secure but also abundant with opportunities to achieve their dreams and personal goals. This dedication perfectly aligns with the UAE government’s vision for a sustainable and prosperous future for all.”
The new license would allow HAYAH to extend its reach and impact, ensuring that more businesses can benefit from robust pension management services. The company said it was dedicated to supporting the financial well-being of employees and helping companies navigate their pension obligations with ease and confidence.
