The UAE’s Unemployment Insurance Scheme took effect earlier this month, giving all Emirati and foreign employees in the country a vital cash safety net if they lose their job.
The mandatory social security support system is based on 60 per cent of an employee’s basic salary and is capped at a maximum of three months, the Ministry of Human Resources and Emiratisation said.
While the finer details have yet to be announced, financial experts have welcomed the move but say it is imperative that people also set up an emergency savings fund, rather than rely solely on the unemployment benefits.
Host Felicity Glover is joined by Keren Bobker, an independent financial adviser and senior partner with Holborn Assets, to discuss the benefits of the social security scheme.
Hosted by Felicity Glover
Produced by Arthur Eddyson and Thomas Smith
Listen to last month’s episode on the pros and cons of fractional property investing:
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Sheer grandeur
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
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Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
