Ras Al Khaimah Economic Zone (RAKEZ) has partnered with Praxis, a leader in pension solutions, and Equevu, a secure technology provider, to introduce the Middle East Workplace Savings Scheme (MEWSS) to its business community. This initiative offers businesses a simple, secure way to support employee financial wellness while enhancing loyalty and retention.
The partnership was officially signed at Compass Coworking Centre by Praxis Group Head of Pensions & Employer Solutions James Barber-Lomax, Equevu CEO Hazem Abdelrahman, and RAKEZ VAS Director Mohammed Kutyba Al Issa.
Praxis will manage and administer the savings plans, while Equevu will integrate its secure platform with RAKEZ systems, ensuring easy onboarding, strong data protection, and full compliance with local laws.
RAKEZ Group CEO Ramy Jallad expressed his excitement:
We are delighted to partner with Praxis and Equevu to bring MEWSS to our business community. This initiative is part of our ongoing commitment to enhance the operational success and wellbeing of our stakeholders. MEWSS aligns with our strategic vision by providing innovative services that support our clients. Alongside offering a comprehensive financial tool for our community members, MEWSS also aligns with our vision to foster a thriving business environment where companies and their employees can prosper together. By facilitating this advanced savings platform, we are helping our businesses attract and retain top talent, while ensuring financial security and satisfaction for their workforce.
James Barber-Lomax added:
RAKEZ is a rapidly expanding freezone within the UAE, and it is fantastic to see how focused the leadership is in ensuring that employees within the freezone umbrella are at the centre of this evolution. Financial wellbeing is a crucial aspect of today’s workforce, and as expatriates in the UAE stay for extended periods, it becomes increasingly important for them to plan for their financial future. MEWSS brings a perfect mix of traditional and tech-enabled service. We are delighted to be working with RAKEZ and look forward to welcoming its community to the platform.
Hazem Abdelrahman shared:
RAKEZ continues to empower businesses with forward-thinking solutions, and this partnership reflects that commitment. At Equevu, in collaboration with Praxis, we are driving this initiative by delivering a secure platform that streamlines onboarding, enhances data security, and ensures regulatory compliance. With multiple integrations, we simplify the process for RAKEZ companies, enabling them to seamlessly implement workplace savings and enhance employee financial well-being. Our platform is already trusted by businesses in the UAE, and we are excited to expand into Ras Al Khaimah, supporting RAKEZ in providing companies with innovative solutions that drive long-term growth and stability.
This new partnership reflects RAKEZ’s ongoing mission to create a thriving business ecosystem and support the financial well-being of its community, helping businesses and their employees grow stronger together.
