Yusuff Ali M.A., owner of LuLu Hypermarkets Image Credit: Supplied

Dubai: Another private company based in the UAE is giving away staff bonuses and this time more than 40,000 employees across the country and other markets will benefit.

Retail tycoon Yusuff  Ali MA, chariman and managing director of LuLu, confirmed on Sunday that his company will be distributing special payouts to all its  workers as part of the "Year of Zayed" initiative.

The company is allocating Dh32 million to reward employees in the Gulf Cooperation Council (GCC) region, Egypt, Malaysia and Vietnam, among others. LuLu is the second private employer to have announced bonus payments in celebration of the 100th birth anniversary of the UAE's founding father, the late Shaikh Zayed Bin Sultan Al Nahyan.

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It was earlier announced that all federal government employees, retirees, civilians and military in the UAE will get a one-month basic salary as a centennial bonus.

At LuLu, the bonuses will benefit 41,893 employees during the holy month of Ramadan and will be disbursed in the coming weeks.

“Shaikh Zayed is widely regarded as the icon of benevolence and humanitarian, whose legacy of peace, communal harmony and social upliftment is still very much appreciated around the world. There can’t be better time than Ramadan to spread Shaikh Zayed’s message in the ‘Year of Zayed.’ This is our humble effort in that direction,” Yussuf ali said.

A spokesperson for the company told Gulf News that each employee will get the same fixed amount.

“This is not the usual one-month salary bonus. This is going to be a fixed amount to all staff irrespective of their seniority, tenure of service, nationality,” the spokesperson said.

Union Coop had earlier confirmed it would distribute centennial bonus to its staff. Emirates Group also made a similar announcement but the payout is based mainly on the company's financial performance and is distributed mostly on an annual basis.