UAE: Ajman Free Zone signs deal with Dubai Insurance to cover foreign workers
Source: Middle East Insurance Review | Oct 2019
The Ajman Free Zone has signed an MoU and associated documents with Dubai Insurance Company (DIC) to provide insurance services to workers employed by organisations operating within the free zone.
The new service will replace the current bank guarantee system and will cover all the dues of workers, including the end-of-service gratuity, annual leave unpaid salaries and the cost of a return ticket home.
As per the MoU, DIC will issue insurance documents for workers that align with the terms and conditions stated, ensuring the targeted objectives are achieved on time.
“This agreement forms part of our endeavour to protect the rights of all workers at the Ajman Free Zone, as well as to assist investors. We will continue to take more steps towards making the lives of workers easier while safeguarding the interests of investors,” said Ajman Free Zone acting general manager Fatma Salem.
In the first six months of 2019, the total number of businesses operated in Ajman Free Zone stood at around 8,000 and they collectively contributed 32% of Ajman’s total exports and 60% of re-exports, according to the Ajman Chamber of Commerce. M