The UAE Cabinet authorized an unemployment insurance scheme on Monday, which would give financial support to unemployed people for a limited time.
The Cabinet meeting, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, issued a series of decisions.
Workers who lose their jobs will be protected by the social safety net provided by unemployment insurance. This will help to improve the labour market's competitiveness and provide a more stable work environment for everyone.
A Dh11.5 billion housing program for 13,000 Emirati households was also authorized. Sheikh Mohammed, who presided over the Cabinet meeting, announced that the Dh11.5 billion in housing loans had been approved following the adoption of a new housing policy as part of the Zayed Housing Program.
كما اعتمدنا اليوم في مجلس الوزراء قراراً يتيح نشر أسماء المخالفين لأنظمة أسواق المال لدينا وأنظمة هيئة الأوراق المالية والسلع.. مع نشر وقائع هذه المخالفات … والهدف رفع الوعي الاستثماري .. وحماية أسواقنا المالية .. وردع المخالفين .. وضمان حماية كافة المستثمرين pic.twitter.com/GbkfYZpRxM — HH Sheikh Mohammed (@HHShkMohd) May 9, 2022
An further decision by the Cabinet was to create one unified body to oversee the Zakat Fund and the General Authority for Islamic Affairs and Awqaf.
Endowment and Zakat sources may be expanded, and the new authority has a major role to play in this, Sheikh Mohammed added.
Emiratization rates for skilled occupations in the private sector will rise by 2% yearly under a newly authorized mechanism to boost Emiratization. By 2026, the percentage will rise to 10%. As part of Nafis, a federal effort to help Emiratis compete for employment in the private sector, this new approach will be deployed.
'Projects of the 50' included the launch of Nafis in order to hasten the UAE's economic progress.
In order to offer academic institutions with greater autonomy and flexibility, a new governance system has been implemented for higher education institutions and national universities.
In the meantime, a resolution enabling the publication of the identities of financial market and Securities and Commodities Authority offenders has been adopted.
All municipalities and several federal ministries will be members of the United Arab Emirates Council for Environmental and Municipal Work, which was authorized by the Cabinet of Ministers. With this step, the federal government hopes to exchange knowledge and develop legislation and rules that would improve municipal work.
The Minister of Climate Change and Environment has chaired the Emirates Council for Environmental Work.
Also Read: Dubai: Sheikh Hamdan bin Mohammed Al Maktoum reacts to a citizen recording him on Sheikh Zayed Road
