RAS AL KHAIMAH: Ras Al Khaimah Economic Zone (RAKEZ) has launched Workers Protection Insurance Programme, a key initiative in partnership with RAKINSURANCE.
This programme is set to significantly enhance workers’ financial security and welfare within the RAKEZ-registered companies and aligns with the Ministry of Human Resources and Emiratisation’s (MoHRE) focus on strengthening employee financial security.
The new insurance solution will replace the current visa deposit requirements, offering comprehensive insurance coverage that includes due and unpaid salaries, end-of-service gratuity, repatriation costs, and coverage for work-related injuries.
The signing ceremony, attended by RAKEZ Group CEO Ramy Jallad and RAKINSURANCE CEO Sanjeev Badyal, highlights the collaborative efforts to enhance worker protections and support Ras Al Khaimah’s economic and social development.
“This initiative is not just about compliance, but about going above and beyond to ensure that our business community is supported at eve
ry level. By safeguarding the interests of these workers, we strengthen the foundation of trust and stability that RAKEZ is built upon,” Jallad said.
Badyal, in turn, stated, “We are thrilled to announce our partnership with RAKEZ. Together, we are launching a Workers Protection Insurance Scheme to ensure a safer and more secure future for all workers employed by businesses in RAKEZ. This collaboration demonstrates our shared commitment to employee welfare.”
Source: Emirates News Agency