RAKEZ Launches Workers Protection Insurance with RAKINSURANCE to Boost Worker Welfare

Photo : RAS AL KHAIMAH GOVERNMENT MEDIA OFFICE

Ras Al Khaimah Economic Zone (RAKEZ) has introduced the Workers Protection Insurance Programme, a significant new initiative developed in collaboration with RAKINSURANCE. This program is designed to substantially enhance the financial security and overall welfare of workers employed by companies registered within RAKEZ, reflecting the UAE's commitment to improving employee rights and corporate governance.

The new insurance scheme will replace the existing visa deposit requirements, providing comprehensive coverage that includes protection for due and unpaid salaries, end-of-service gratuity, repatriation costs, and work-related injury coverage. This step aligns with the Ministry of Human Resources & Emiratisation’s (MoHRE) efforts to strengthen employee financial security and underscores RAKEZ’s dedication to creating a secure and supportive business environment.

The strategic partnership was formally marked by an official signing ceremony attended by Ramy Jallad, CEO of RAKEZ Group, and Sanjeev Badyal, CEO of RAKINSURANCE. This event highlights their collaborative efforts to enhance worker protections and contribute to Ras Al Khaimah’s economic and social development.

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Ramy Jallad emphasized RAKEZ's commitment to workforce welfare, stating, “The launch of the Workers Protection Insurance Programme is a milestone in our ongoing efforts to provide a secure and prosperous environment for employees of RAKEZ-registered companies. This initiative transcends mere compliance; it reflects our dedication to ensuring that our business community is well-supported at every level. By safeguarding workers' interests, we reinforce the trust and stability on which RAKEZ is founded.”

Sanjeev Badyal expressed enthusiasm for the partnership, noting, “We are excited to partner with RAKEZ in launching the Workers Protection Insurance Scheme. This initiative underscores our shared commitment to improving employee welfare and ensuring a safer and more secure future for all workers in RAKEZ. Our collaboration is a testament to our mutual dedication to community well-being.”

The introduction of this insurance program not only provides reassurance to workers but also strengthens RAKEZ's reputation as a progressive organization committed to community welfare. Additionally, it enhances Ras Al Khaimah's attractiveness as a premier business destination by mitigating financial risks for employers and boosting job security for employees.