The government of the United Arab Emirates has announced the launch of a new insurance scheme for lost workers. In a tweet after the cabinet meeting on Monday (May 9th), Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, said the unemployment insurance scheme would provide cash to the insured for a limited period of time due to sudden job loss.
The system will be implemented through insurance package. An insured employee will be compensated for a certain period of time until he finds another job.
He added in a tweet that the project aims to increase competition in the UAE’s labor market, protect workers and establish a stable work environment. However, neither Sheikh Mohammad nor his office provided details about the project.