The Workers Protection Insurance Programme has been launched by Ras Al Khaimah Economic Zone (RAKEZ), a significant effort in collaboration with RAKINSURANCE.
This plan is in line with the Ministry of Human Resources & Emiratisation’s (MoHRE) emphasis on improving financial security for employees and is expected to greatly improve the welfare and financial security of workers within RAKEZ-registered enterprises.
The new insurance plan will take the place of the present visa deposit requirements. It will provide complete insurance coverage, including reimbursement for work-related accidents, end-of-service gratuity, due and unpaid pay, and repatriation expenses.
In line with the UAE’s strategic goals for corporate governance and employee rights, as well as Ras Al Khaimah’s ambition to improve the standard of living for its workforce, this project highlights RAKEZ’s dedication to promoting a safe and prosperous business environment.
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The strategic agreement was formally signed by CEOs of RAKEZ Group Ramy Jallad and RAKINSURANCE Sanjeev Badyal, highlighting the joint efforts to strengthen worker safeguards and promote the social and economic growth of Ras Al Khaimah.
“At RAKEZ, we are deeply committed to the well-being of the workforce within our community. The launch of the Workers Protection Insurance Programme marks a significant milestone in our ongoing efforts to provide a secure and prosperous environment for employees of the companies registered with RAKEZ. This initiative is not just about compliance, but about going above and beyond to ensure that our business community is supported at every level. By safeguarding the interests of these workers, we strengthen the foundation of trust and stability that RAKEZ is built upon,” Jallad said.
The introduction of this insurance program gives workers peace of mind and establishes RAKEZ as a progressive company dedicated to the wellbeing of the community. Furthermore, by lowering financial risks for firms and increasing job security for employees, it strengthens Ras Al Khaimah’s appeal as a premier business destination.
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The introduction of this insurance program gives workers peace of mind and establishes RAKEZ as a progressive company dedicated to the wellbeing of the community. Furthermore, by lowering financial risks for firms and increasing job security for employees, it strengthens Ras Al Khaimah’s appeal as a premier business destination.
Badyal said: “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.”
About RAKEZ
RAKEZ is home to renowned global manufacturers in Ras Al Khaimah and an incubator for commercial, service, and consultancy startups and SMEs.
