The Dubai Government has announced a savings fund for foreigners working in the public sector.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, announced the scheme after he chaired an Executive Council meeting.
The project will be implemented in stages.
According to a statement, the scheme will be supervised by the Dubai International Financial Centre (DIFC) in partnership with several international investment firms that provide attractive and safe investment opportunities. Foreigners will be able to access portfolios in both traditional and Islamic investment funds.
Sheikh Hamdan said the scheme would ensure that all employees, whether citizens or residents are provided with the support they require.
The scheme will be optional for private sector firms.
