ABU DHABI: Emiratis Ministers have approved a series of measures to benefit Emirati families including redundancy payments for unemployed citizens.
Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, said the “aim is to compensate the insured worker with a cash amount for a limited period in the event of unemployment”.
“The aim is to enhance the competitiveness of the labour market, provide a social umbrella for its workers, and establish a stable work environment for all.”
According to a report on thenationalnews.com, the Cabinet, which met at Abu Dhabi’s Qasr Al Watan after the Eid Al Fitr break, further approved housing loans worth Dh11.5 billion for 13,000 Emirati families.
The loans are the latest step in the Sheikh Zayed Housing Programme to ensure every citizen can own a family home.
The Cabinet formally approved the next stage of an Emiratisation drive that will ensure that 10 per cent of employees in private sector companies are Emirati by 2026.
In the next year, companies with more than 50 employees should have a 2 per cent Emirati workforce under the Nafis scheme. This quota will be expanded year on year.
The Ministers further approved plans to publicly name companies that breach securities and commodities regulations and detail their offences.
“The goal is to raise investment awareness, and protect our financial markets, deter violators and ensure the protection of all investors,” Sheikh Mohammed said.
At present, companies regulated in the Dubai International Financial Centre freezone that breach laws and regulations are commonly named by the Dubai Financial Services Authority and Financial Markets Tribunal.
The Cabinet plan, which was not detailed in full, appears to be an extension of that practice.
In contrast, domestic criminal and civil courts do not publicly set out judgments nor name involved parties.
In the environmental sector, Sheikh Mohammed said the ministers approved the formation of the Emirates Council for Climate Action, headed by the Minister of Climate Change and Environment.
“The aim is to develop public sector plans to deal with the effects of climate change, adapt to its effects and follow up on the implementation of climate neutrality plans by 2050, which we have announced earlier,” he said.
“We also approved the establishment of the Emirates Council for Environmental and Municipal Work, with the membership of all municipalities in the country and a group of federal ministries, with the aim of exchanging experiences and proposing regulations and legislations that raise the level of municipal work at the federal level.”
Other decisions included merging the General Authority for Islamic Affairs and Endowments with the Zakat Fund and to form a new board to manage the authority.
“We have a great opportunity for the growth of the endowment sector in the country and the development of Zakat resources. The new authority has a great mission to develop this sector,” Sheikh Mohammed said.
The UAE will have a pavilion at the Floriade Expo 2022 in the Netherlands later this year.
The event puts the spotlight on the horticultural world and the role it plays in our daily lives.
“It aims to introduce the country’s efforts to overcome the challenges of elevated temperature and water scarcity and to preserve our biological diversity,” Sheikh Mohammed said.