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UAE: Over 250,000 individuals sign up for unemployment insurance in 12 days

According to the UAE's labor minister, approximately 250,000 workers have signed up for the country's unemployment insurance scheme since its inception at the beginning of the year. The Involuntary Loss of Employment Scheme will compensate Emiratis and residents in the public and private sectors a cash amount for three months if they lose their jobs. The scheme aims to soften the financial impact of unemployment and offer people assistance as they try to re-enter the labor force. Compensation will be paid for three months from the employee's job loss date. It will be calculated at 60% of their basic salary for the most recent six months before the loss of employment for a maximum payment of Dh20,000 ($5,445) per month. According to Abdulrahman Al Awar, Minister of Human Resources and Emiratisation, the program would be critical to attracting and keeping talent in the UAE. Workers can enroll in the insurance program in a variety of methods, including through the insurance pool's website or smart application, the employee's bank, ATMs, money exchange firms, business service centers, kiosk machines, du and Etisalat, or directly with an insurance provider. BKM/ Expat Media
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