Gulf In Focus - GULF STATES ECONOMICS and FINANCE -75PC of UAE companies don't set aside assets for end-of-service gratuities.


Three quarters of companies in the UAE do not set aside specific assets for end-of-service benefits, according to a new survey from Swiss insurer Zurich.

The study follows up on a similar report in 2016, which found 83 percent cover their end-of-service liabilities from their operating cash flow.

"It still indicates that there is a dearth of setting funding aside for end-of-service benefits," says Reena Vivek, senior executive officer at Zurich Workplace Solutions, a new entity in the process of being incorporated in the Dubai International Financial Centre.

"There is still a gap in the market from companies to make sure they are taking care of these liabilities in...

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