Emirates Global Aluminium PJSC (EGA) is the latest big player in the UAE to establish a Channel Islands trust for the purposes of safeguarding the interests of its 8,000 employees across the UAE region.
EGA is the largest industrial company in the UAE outside of oil and gas and supplies customers in 60 countries.
Attracting and retaining talent and being an "employer of choice" is therefore high on EGA's agenda and, with the lack of any pension provision in the UAE, EGA have been keen to facilitate a scheme to enable its employees to plan for the future.
The trust will be run by Emirates NBD Trust Company (Jersey) Limited with input from Tim Denton, Vice President and Head of Trust & Wealth Structuring at Emirates NBD in Dubai.
Angela Calnan, Group Partner in Collas Crill's Guernsey office and head of the firm's MENA Practice Group said: "it is fabulous to see another significant regional company grasping the nettle and planning for employee benefits. This is the latest in a number of schemes of this type that we have successfully established and we are hoping that other firms will follow EGA's excellent example".
