• The UAE is offering new types of visa, including options for long-stay tourists, jobseekers, accomplished professionals, star students and high-net-worth individuals. Wam
    The UAE is offering new types of visa, including options for long-stay tourists, jobseekers, accomplished professionals, star students and high-net-worth individuals. Wam
  • A 60-day visit visa for tourists is now standard instead of a 30-day one. Christopher Pike / Bloomberg
    A 60-day visit visa for tourists is now standard instead of a 30-day one. Christopher Pike / Bloomberg
  • The Job Exploration Entry Visa was created to attract young talent and skilled professionals. Photo: Dubai Airports
    The Job Exploration Entry Visa was created to attract young talent and skilled professionals. Photo: Dubai Airports
  • Holders of the Green Visa for Skilled Employees and Freelancers will be able to bring any first-degree relative to live with them. Khushnum Bhandari / The National
    Holders of the Green Visa for Skilled Employees and Freelancers will be able to bring any first-degree relative to live with them. Khushnum Bhandari / The National
  • A five-year multi-entry tourist visa has been introduced. This does not require a sponsor and allows the holder to stay in the country for up to 90 consecutive days, as long as they have $4,000 or its equivalent in their bank account. Christopher Pike / Bloomberg
    A five-year multi-entry tourist visa has been introduced. This does not require a sponsor and allows the holder to stay in the country for up to 90 consecutive days, as long as they have $4,000 or its equivalent in their bank account. Christopher Pike / Bloomberg
  • A Green Residence visa for an investor or partner in a company provides five-year residency. It replaces the previous residence permit, which was valid for two years. Photo: DMCC
    A Green Residence visa for an investor or partner in a company provides five-year residency. It replaces the previous residence permit, which was valid for two years. Photo: DMCC
  • The five-year Green Residence for Skilled Employees visa is to attract experienced professionals, freelancers, investors and entrepreneurs. AFP
    The five-year Green Residence for Skilled Employees visa is to attract experienced professionals, freelancers, investors and entrepreneurs. AFP
  • The 10-year Golden Residence Scheme visa is open to investors, entrepreneurs, scientists and certain other professionals; humanitarians, first responders, and outstanding students and recent graduates. Photo: National Geographic
    The 10-year Golden Residence Scheme visa is open to investors, entrepreneurs, scientists and certain other professionals; humanitarians, first responders, and outstanding students and recent graduates. Photo: National Geographic
  • The Golden Visa for Outstanding Students and Graduates is available to secondary school pupils and undergraduates of exceptional academic ability, as well as outstanding graduates of UAE universities and the best 100 universities worldwide. Pawan Singh / The National
    The Golden Visa for Outstanding Students and Graduates is available to secondary school pupils and undergraduates of exceptional academic ability, as well as outstanding graduates of UAE universities and the best 100 universities worldwide. Pawan Singh / The National

UAE's new visa rules to come into effect in September


  • English
  • Arabic

Related: 60-day entry now standard for many visitors

The UAE Cabinet has approved one of the biggest overhauls of the visa residency system in years.

The new model, in some cases, ends the need for arrivals to acquire sponsorship.

People who enter as visitors will be able to stay for 60 days, rather than 30 days at present. The changes will come into effect by September.

Parents can sponsor their male children until the age of 25, up from 18, allowing them to remain in the UAE after school and university. This was first set out in September 2021.

The new system of entry and residence aims at attracting and retaining global talents and skilled workers from all over the world
UAE Government Media Office

The Golden Visa system will also be expanded, while new entry visas to make it easier for jobseekers, particularly graduates, to visit the country will be available.

Skilled professionals on salaries of Dh30,000 ($8,100) a month or more will find it easier to gain an Golden Visa.

The UAE Government Media Office announced the changes, approved by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, on Monday.

The announcement is the formal ratification by the Cabinet of a series of recent visa changes, plus new details and decisions, which are known as executive regulations.

“The new system of entry and residence is aimed at attracting and retaining global talents and skilled workers,” a media office statement said.

More flexible visas will boost “competitiveness and flexibility of the job market and foster high sense of stability among UAE residents and families".

New benefits for family members

The new system provides more benefits for family members.

A parent can now sponsor a male child to the age of 25 years, up from 18. A parent can sponsor an unmarried daughter indefinitely.

Children with disabilities are granted a residence permit permanently, regardless of their age.

The Green visa residence holder is allowed to bring any first-degree relative into the country and, in all cases, the residency of family members shall be of the same duration as the original residence holder.

Job exploration entry visa

This visa is introduced with the aim of attracting young talents and skilled professionals to explore job opportunities. It does not require a sponsor or a host.

It is granted to those classified in the first or second or third skill level as per the Ministry of Human Resources and Emiratisation and to the latest graduates of the best 500 universities in the world. The minimum educational level should be a bachelor's degree or its equivalent.

Multi-entry tourist visa

In addition to the regular tourist visa, a five-year, multi-entry tourist visa was introduced.

This type does not require a sponsor and it allows the person to stay in the country up to 90 days in a row. It may be extended for a similar period, provided that the entire period of stay does not exceed 180 days in one year.

This visa requires proof of having a bank balance of $4,000 or its equivalent in foreign currencies during the last six months before submitting the application.

Golden visa for sponsoring family and domestic workers

Amendments are introduced to the Golden Residence Scheme to simplify the eligibility criteria and expand the categories of beneficiaries.

This 10-year residence is granted to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers and frontline heroes.

Travellers outside Dubai International Airport on February 21, 2022. Karim Sahib / AFP
Travellers outside Dubai International Airport on February 21, 2022. Karim Sahib / AFP

A Golden Residence holder can sponsor his/her family members including spouse and children regardless of their age, and to sponsor domestic workers without limiting their number. There is no restriction related to the maximum duration of stay outside the UAE in order to keep the Golden Residence valid.

There are other benefits for family members that allow them to stay in the UAE in the event of the death of the original holder of the Golden Residence until the end of their permit duration.

Golden visa for scientists

This is granted to scientists and researchers of high calibre and influence in their field based on recommendation from the Emirates Scientists Council.

The candidate should have a PhD or master's degree in the disciplines of engineering, technology, life sciences and natural sciences from leading universities. The candidate should have substantial research achievements.

Golden visa for skilled professionals

An expansion is introduced in this category to attract highly skilled workers with educational qualifications and professional experience in all disciplines including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences.

Applicants should have a valid employment contract in the UAE and should be classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation classification.

The minimum educational level must be a bachelor’s degree or equivalent, and the monthly salary should not be less than Dh30,000.

Golden visa for 'exceptional talents'

This is granted to top talents in vital fields. It is awarded based on talent only, regardless of the educational qualification or the employment status or the monthly salary or professional level.

It requires the recommendation or approval of a federal or local government entity, and includes talented individuals in culture, art, sports, digital technology, inventors and innovators and other vital fields.

Golden visa for real estate investors

Real estate investors can obtain Golden Residence when purchasing a property worth no less than Dh2 million ($540,000).

As per the new amendments, investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks. Investors can also obtain Golden Residence when buying one or more off-plan properties of no less than Dh2m from approved local real estate companies.

Golden Residence for Entrepreneurs

To be eligible for Golden Residence, an entrepreneur should own or be a partner in a start-up registered in the country in the category of small and medium enterprises (SME) that generates annual revenue of not less than Dh1m.

If the person is one of the founders of an earlier entrepreneurial project that was sold with a total value of not less than Dh7m, he or she will be entitled to Golden Residence. The approval of the Ministry of Economy or the competent local authorities is required for projects or ideas.

Golden visa for outstanding students and graduates

This residence targets high performing students in UAE secondary schools and outstanding graduates from UAE universities and the best 100 universities worldwide according to criteria that includes their academic performance, the year of graduation, and the university classification.

Green visa for skilled employees and freelancers

A new track that provides a five-year residency for skilled employees, without sponsor or employer.

The minimum educational level must be a bachelor’s degree or equivalent and the salary should not be less than Dh15,000.

Green visa for investor or partner

This residence is introduced to encourage investment. It provides five-year residency for investors establishing or participating in commercial activities. It replaces the previous residence that was valid for two years.

Requirements including approval of the investment and proof of investment. If the investor has more than one licence, the total invested capital will be calculated.

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

Race card

6.30pm: Emirates Holidays Maiden (TB), Dh82,500 (Dirt), 1,900m
7.05pm: Arabian Adventures Maiden (TB), Dh82,500 (D), 1,200m
7.40pm: Emirates Skywards Handicap (TB), Dh82,500 (D), 1,200m
8.15pm: Emirates Airline Conditions (TB), Dh120,000 (D), 1,400m
8.50pm: Emirates Sky Cargo (TB), Dh92,500 (D)1,400m
9.15pm: Emirates.com (TB), Dh95,000 (D), 2,000m

Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

MATCH INFO

Mumbai Indians 186-6 (20 ovs)
Kings XI Punjab 183-5 (20 ovs)

Mumbai Indians won by three runs

UAE currency: the story behind the money in your pockets
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20WallyGPT%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2014%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESaeid%20and%20Sami%20Hejazi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%3Cbr%3E%3Cstrong%3EInvestment%20raised%3A%20%3C%2Fstrong%3E%247.1%20million%3Cbr%3E%3Cstrong%3ENumber%20of%20staff%3A%3C%2Fstrong%3E%2020%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%20round%3C%2Fp%3E%0A
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%206.7%E2%80%9D%20LPTO%20Amoled%2C%202412%20x%201080%2C%20394ppi%2C%20HDR10%2B%2C%20Corning%20Gorilla%20Glass%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Qualcomm%20Snapdragon%208%2B%20Gen%202%2C%20octa-core%3B%20Adreno%20730%20GPU%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208%2F12GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20128%2F256%2F512GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2013%2C%20Nothing%20OS%202%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2050MP%20wide%2C%20f%2F1.9%20%2B%2050MP%20ultrawide%2C%20f%2F2.2%3B%20OIS%2C%20auto-focus%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%20video%3A%3C%2Fstrong%3E%204K%20%40%2030%2F60fps%2C%201080p%20%40%2030%2F60fps%3B%20live%20HDR%2C%20OIS%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2032MP%20wide%2C%20f%2F2.5%2C%20HDR%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%20video%3A%3C%2Fstrong%3E%20Full-HD%20%40%2030fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%204700mAh%3B%20full%20charge%20in%2055m%20w%2F%2045w%20charger%3B%20Qi%20wireless%2C%20dual%20charging%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%20Wi-Fi%2C%20Bluetooth%205.3%2C%20NFC%20(Google%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Fingerprint%2C%20face%20unlock%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP54%2C%20limited%20protection%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Dual-nano%20SIM%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Dark%20grey%2C%20white%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Nothing%20Phone%20(2)%2C%20USB-C-to-USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%20(UAE)%3A%3C%2Fstrong%3E%20Dh2%2C499%20(12GB%2F256GB)%20%2F%20Dh2%2C799%20(12GB%2F512GB)%3C%2Fp%3E%0A
Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

Origin
Dan Brown
Doubleday

The%20Mother%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Niki%20Caro%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Jennifer%20Lopez%2C%20Joseph%20Fiennes%2C%20Gael%20Garcia%20Bernal%2C%20Omari%20Hardwick%20and%20Lucy%20Paez%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
SOUTH%20KOREA%20SQUAD
%3Cp%3E%0D%3Cstrong%3EGoalkeepers%3A%20%3C%2Fstrong%3EKim%20Seung-gyu%2C%20Jo%20Hyeon-woo%2C%20Song%20Bum-keun%0D%3Cbr%3E%3Cstrong%3EDefenders%3A%20%3C%2Fstrong%3EKim%20Young-gwon%2C%20Kim%20Min-jae%2C%20Jung%20Seung-hyun%2C%20Kim%20Ju-sung%2C%20Kim%20Ji-soo%2C%20Seol%20Young-woo%2C%20Kim%20Tae-hwan%2C%20Lee%20Ki-je%2C%20Kim%20Jin-su%0D%3Cbr%3E%3Cstrong%3EMidfielders%3A%20%3C%2Fstrong%3EPark%20Yong-woo%2C%20Hwang%20In-beom%2C%20Hong%20Hyun-seok%2C%20Lee%20Soon-min%2C%20Lee%20Jae-sung%2C%20Lee%20Kang-in%2C%20Son%20Heung-min%20(captain)%2C%20Jeong%20Woo-yeong%2C%20Moon%20Seon-min%2C%20Park%20Jin-seob%2C%20Yang%20Hyun-jun%0D%3Cbr%3E%3Cstrong%3EStrikers%3A%20%3C%2Fstrong%3EHwang%20Hee-chan%2C%20Cho%20Gue-sung%2C%20Oh%20Hyeon-gyu%3C%2Fp%3E%0A
UAE%20medallists%20at%20Asian%20Games%202023
%3Cp%3E%3Cstrong%3EGold%3C%2Fstrong%3E%0D%3Cbr%3EMagomedomar%20Magomedomarov%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20%2B100kg%0D%3Cbr%3EKhaled%20Al%20Shehi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-62kg%0D%3Cbr%3EFaisal%20Al%20Ketbi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-85kg%0D%3Cbr%3EAsma%20Al%20Hosani%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-52kg%0D%3Cbr%3EShamma%20Al%20Kalbani%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-63kg%0D%3Cbr%3E%3Cstrong%3ESilver%3C%2Fstrong%3E%0D%3Cbr%3EOmar%20Al%20Marzooqi%20%E2%80%93%20Equestrian%20%E2%80%93%20Individual%20showjumping%0D%3Cbr%3EBishrelt%20Khorloodoi%20%E2%80%93%20Judo%20%E2%80%93%20Women%E2%80%99s%20-52kg%0D%3Cbr%3EKhalid%20Al%20Blooshi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-62kg%0D%3Cbr%3EMohamed%20Al%20Suwaidi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-69kg%0D%3Cbr%3EBalqees%20Abdulla%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-48kg%0D%3Cbr%3E%3Cstrong%3EBronze%3C%2Fstrong%3E%0D%3Cbr%3EHawraa%20Alajmi%20%E2%80%93%20Karate%20%E2%80%93%20Women%E2%80%99s%20kumite%20-50kg%0D%3Cbr%3EAhmed%20Al%20Mansoori%20%E2%80%93%20Cycling%20%E2%80%93%20Men%E2%80%99s%20omnium%0D%3Cbr%3EAbdullah%20Al%20Marri%20%E2%80%93%20Equestrian%20%E2%80%93%20Individual%20showjumping%0D%3Cbr%3ETeam%20UAE%20%E2%80%93%20Equestrian%20%E2%80%93%20Team%20showjumping%0D%3Cbr%3EDzhafar%20Kostoev%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20-100kg%0D%3Cbr%3ENarmandakh%20Bayanmunkh%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20-66kg%0D%3Cbr%3EGrigorian%20Aram%20%E2%80%93%20Judo%20%E2%80%93%20Men%E2%80%99s%20-90kg%0D%3Cbr%3EMahdi%20Al%20Awlaqi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-77kg%0D%3Cbr%3ESaeed%20Al%20Kubaisi%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Men%E2%80%99s%20-85kg%0D%3Cbr%3EShamsa%20Al%20Ameri%20%E2%80%93%20Jiu-jitsu%20%E2%80%93%20Women%E2%80%99s%20-57kg%0D%3C%2Fp%3E%0A
While you're here
John%20Wick%3A%20Chapter%204
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Chad%20Stahelski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Keanu%20Reeves%2C%20Laurence%20Fishburne%2C%20George%20Georgiou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
Sly%20Cooper%20and%20the%20Thievius%20Raccoonus
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20Sucker%20Punch%20Productions%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Sony%20Computer%20Entertainment%3Cbr%3E%3Cstrong%3EConsole%3A%3C%2Fstrong%3E%20PlayStation%202%20to%205%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%205%2F5%3C%2Fp%3E%0A
Electric scooters: some rules to remember
  • Riders must be 14-years-old or over
  • Wear a protective helmet
  • Park the electric scooter in designated parking lots (if any)
  • Do not leave electric scooter in locations that obstruct traffic or pedestrians
  • Solo riders only, no passengers allowed
  • Do not drive outside designated lanes
Company info

Company name: Entrupy 

Co-founders: Vidyuth Srinivasan, co-founder/chief executive, Ashlesh Sharma, co-founder/chief technology officer, Lakshmi Subramanian, co-founder/chief scientist

Based: New York, New York

Sector/About: Entrupy is a hardware-enabled SaaS company whose mission is to protect businesses, borders and consumers from transactions involving counterfeit goods.  

Initial investment/Investors: Entrupy secured a $2.6m Series A funding round in 2017. The round was led by Tokyo-based Digital Garage and Daiwa Securities Group's jointly established venture arm, DG Lab Fund I Investment Limited Partnership, along with Zach Coelius. 

Total customers: Entrupy’s customers include hundreds of secondary resellers, marketplaces and other retail organisations around the world. They are also testing with shipping companies as well as customs agencies to stop fake items from reaching the market in the first place. 

The Melbourne Mercer Global Pension Index

The Melbourne Mercer Global Pension Index

Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.

The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.

“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.

“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”

Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.

Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.

“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

Updated: June 22, 2023, 9:39 AM