UAE announces unemployment insurance scheme

Abu Dhabi: The UAE Cabinet on Monday approved an unemployment insurance scheme to provide unemployed individuals with income support for a limited period of time.

The move was part of a series of decisions announced during the Cabinet meeting, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The unemployment insurance scheme aims to strengthen the competitiveness of the job market, provide a social umbrella for workers in case of job loss and establish a stable work environment for all.

Housing programme

Also approved was a housing programme of Dh11.5 billion to benefit 13,000 Emirati families.

The housing loans worth Dh11.5 billion have been introduced after adopting a new housing policy as part of the Zayed Housing Programme, Sheikh Mohammed said as he chaired the Cabinet meeting.

New merger

The Cabinet also issued a resolution merging the Zakat Fund and the General Authority of Islamic Affairs and Awqaf into one entity, to be managed by a new board of directors.

“We have a great opportunity for the growth of the endowment sector and growing the sources of Zakat, and the new authority has a big responsibility to develop this sector,” Sheikh Mohammed said.

Emiratisation boost

A new system to enhance Emiratisation in the private sector has also been approved to increase Emiratisation rates by two per cent annually in skilled jobs in the private sector. The rate will reach 10 per cent by 2026. The new system will be implemented in cooperation with Nafis, a federal program to increase the competitiveness of Emirati human resources and empower them to occupy jobs in the private sector.

Nafis was launched as part of ‘Projects of the 50’ to accelerate the UAE’s development journey and boost the economy.

Education governance

A governance system for higher education institutions and national universities has been introduced to provide a greater flexibility and independence for academic institutions.

Meanwhile a resolution has been approved allowing the publishing of the names of violators of financial markets and the Securities and Commodities Authority.

New council

The Cabinet also approved the establishment of the UAE Council for Environmental and Municipal Work, with the membership of all municipalities and some federal ministries. The move aims to share expertise and suggest legislation and regulations that can upscale the municipal work at the federal level.

The Emirates Council for Environmental Work has been established under the chairmanship of Minister of Climate Change and Environment