Ajman Free Zone has confirmed the effectiveness of the new insurance umbrella launched several months ago in cooperation with Dubai Insurance to protect workers' rights and reduce the burden on investors of the free zone.
Ajman Free Zone pointed out that the number of beneficiaries of this initiative has reached more than 700 people since its launch in August, which confirms its success and acceptance largely by investors and workers.
The scheme s is an alternative to the bank guarantee for expatriate workers, where it covers workers' benefits such as end of service gratuity, annual leave allowance, unpaid salaries and the cost of an economy class return ticket to the home of the worker, said a statement.
Ajman Free Zone is the first free zone in the UAE to introduce a new insurance system to replace the current bank guarantee for expatriate workers.
"The Ajman Free Zone is doing a lot to facilitate the management of business in the region for the benefit of all parties. We also commend this exceptional initiative that takes care of the rights of investors and workers in the interest of business. We are overwhelmed with all AFZ efforts for especially launching of services related to facilitating business using digital platforms." said Maharaj Hussain Abdul Latif from Spectum Converting Industry.
Hafza Nadia Shahbaz from Misstique International hailed the step and said: “We are pleased with the initiative launched by Ajman Free Zone to establish a new and advanced insurance system that guarantees the rights of all workers. It is great to see AFZ adopting advanced and modern practices that serve all parties. The new initiatives will serve investors and workers, benefit everyone and help business grow.”
In accordance with the partnership agreement with Dubai Insurance Company, workers' insurance certificates are issued in accordance with the conditions specified in the insurance policy to ensure the achievement of the desired objectives. – TradeArabia News Service