The First Guarantee is a product introduced to facilitate the process of issuance of labour guarantee on work permits to the Ministry of Labour. This is the ideal option for small and large firms in the UAE to obtain labour guarantee - the service is free from processing fees and the guarantee amount earns attractive rates of interest. The launch of First Guarantee is in line with Dubai First’s strategy to cater to the corporate sector with a multitude of products and services.
Following the recent introduction of new labour issuance system by the Ministry of Human Resource and Emiratization, First Guarantees must be cancelled and returned.
All clients holding First Guarantee are requested to immediately contact the UAE Ministry of Labour to obtain a refund/release letter stating that the Labor Guarantee is cancelled.
The letter from the UAE Ministry of Labour must be submitted to Dubai First Service Desk, located at Level 22, Burjuman Business Tower, Dubai latest by 29th August 2018.
Your First Guarantee will be cancelled in our records and the funds will be released back to you.
In addition, please note that we will stop paying interest on your Dubai First Corporate Fixed Deposit as of August 31st 2018. (Reference is made to the Dubai First Terms and Conditions – Corporate Fixed Deposit and Labour Guarantees. )
We stress that this is a requirement from the UAE Central Bank. Your prompt action is therefore appreciated.
For any clarification or further assistance, please feel free to visit us at Level 22, Burjuman Business Tower, Dubai.
This product is currently not available to new customers