The UAE has unveiled a new insurance program that will protect employees from job losses and provide temporary cash assistance to the unemployed. The goal of the scheme is to promote competition in the job market and to provide a stable environment for workers.
The scheme will provide cash payment for a limited period of time to the insured who has lost his job unexpectedly. The insurance package will help the insured till he gets the job. According to the International Labor Organization (ILO), unemployment insurance programs are being implemented in emerging and advanced economies.
Also read: India-UAE Trade Deal CEPA: Benefits and Highlights