Imagine getting laid off the job but still getting financial support from the government? Sounds unreal, right? But UAE has made it possible for employees. Mohammed Bin Rashid has introduced this initiative. Employees will receive protection against job loss under a new insurance system announced in the UAE. This scheme will surely give more migration of workers to the country real soon.
For A Limited Time, The Scheme Will Provide A Monetary Reward
Yes, you heard it right. The UAE government brought up this scheme to help employees with financial difficulties they would face in situations like losing their jobs. UAE vice president took this to Twitter after a UAE Cabinet meeting recently. Under the scheme, every unemployed individual would receive Dhs20,000 per month to handle their finances. And this service will be available to all the UAE workers and not just limited to Emiratis.
Insurance products will come into use to implement the system. An insured employee will receive monetary help for a specified tenure until he or she finds new employment. This will improve the UAE labour market’s competition, protect the workers, and provide a secure working environment. The law intends to improve Emiratis’ job market position as well as bring the greatest global talent to the UAE. Sheikh Mohammed and his office have not provided any additional information about the scheme. The scheme is set to roll out from January 2023.
UAE Introduced A Job-Seekers Visa Recently
This step will enable expatriates to enter a country solely to look for work. Unemployment insurance plans are in place in both emerging and established economies. This initiative is according to the International Labour Organization, to safeguard employed people from losing their jobs.
The UAE’s action is the latest in a series of recent measures. It’s totally aimed at attracting and retaining international expertise. A five-year Green Visa recently came into action to attract qualified professionals, freelancers, investors, and entrepreneurs. Also, it provides extended flexible grace periods of up to 6 months to remain in the UAE after the residence visa expires or in case of cancellation.
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