The Dubai International Financial Center revealed that Resolution No. (4) for the year 2020 for the center, which went into effect from April 21 to July 31, stipulates providing greater flexibility to business owners in the center, in addition to strengthening the procedures for protecting employees, in order to reduce One of the effects of the current situation is the spread of the emerging Corona virus (Covid-19).
Emergency procedures
According to the decision, companies based in the Dubai International Financial Center will be able to implement urgent measures and procedures against their employees during the stage of the spread of the "Corona virus" to deal with its effects quickly, as business owners during times of emergency can reduce working hours, and obligate their employees to take leave, Whether paid or unpaid, cutting salaries, restricting their presence in the workplace, and directing them to work remotely without the need to obtain employee approval.
The decision seeks to facilitate the mechanism of accrediting business owners in the center with temporary changes to the conditions agreed with their employees, thus contributing to reducing the possibilities of resorting to dispensing employee services, and it is in the interest of employees in the long term, with the need to confirm that these procedures are temporary and apply only During the emergency period, while making any decisions or permanent changes will require the approval of the employee.
Full wage
The decision confirms that in the event that any employee working within the center is diagnosed with a new Corona virus and is subject to medical isolation procedures by a decision from the relevant authorities to limit the spread of the virus, he will receive his full wages, and any sick leave as a result of an employee infected with the virus will not be deducted from the salary, It may not be calculated from the balance of the annual sick leave.
The decision also allows business owners to postpone canceling the visa of employees whose services have been terminated, to spare them any difficulties, provided that business owners continue to provide basic health insurance coverage. It is also necessary to provide housing for employees working in the retail, services and hospitality sectors in such circumstances.
The decision provides protection for employees who have been terminated, to obtain an end-of-service gratuity based on the basic salary as on February 29, 2020, to ensure that any reduction in wages taken later, does not affect the calculation of the end-of-service gratuity.
Cut costs
Dubai International Financial expressed its hope that business owners would benefit from the decision, by enabling them to take measures that contribute to reducing operating costs, maintaining the continuity of their business, as well as giving them flexibility that avoided them making the decision to end employee services, as well as providing protection and benefits Essential for employees on the job, or whose services have been terminated.
Database
The decision also provided for the establishment of the Dubai International Financial Center, a database that includes the list of employees who were laid off during the crisis caused by the Corona virus, in addition to the list of employees who are in excess of the need of business owners, with the aim of helping to re-employ them. With other companies.
Privacy levels
The decision touched on the importance of companies applying the highest levels of privacy and electronic security systems to support employees during their work remotely, in a move that follows the standards applied by other major judicial authorities, such as the United Kingdom, by temporarily suspending obligations regarding the wrong trading of companies in the Dubai International Financial Center, according to The financial insolvency law issued by the center, and it reduces the pressure on the managers of companies operating in the financial center, for fear of holding them personally responsible for the continuation of trading in the period witnessing a state of uncertainty as a result of the measures taken to limit the spread of a virus Corona the newcomer.
Flexibility and stability
"We cannot underestimate the repercussions that the emergence of the new Corona virus may have on companies," said Issa Kazim, the governor of the Dubai International Financial Center. With flexibility and stability for companies and their employees, in a practical way that helps them to continue in the face of the challenges posed by this crisis ».
Kazem added: “Senior executive departments at the financial center level have been forced to make difficult decisions in order to maintain business continuity and protect it, while this decision comes to help decision makers to effectively assess the situation, and take the necessary measures to maintain business and its growth during this unprecedented period.”
He continued: «We seek in the financial center to take all necessary steps to enhance the economic future of the Emirate of Dubai, as this decision is part of our comprehensive efforts to support businesses and society as a whole. Our solid legal framework is also able to enhance preventive measures and secure the interests of every company and employee in the center, not only in periods of crisis, but at all times. ”
Motivational initiatives
The Dubai International Financial Center confirmed that it responded to the crisis early, by launching a series of incentive initiatives to support businesses and retail companies, which included exemptions on fees and discounts, postponing payments, as well as exempting rental fees for specific periods, to maintain the business community.
He pointed out that he benefited from the advice of the accredited legal authorities in drafting the decision, which is: "Al-Tamimi and its associates", "Clyde & Co" and "DWF", in line with international best practices.
Any employee who is infected with Corona virus and who is subject to medical isolation procedures will be paid in full.
Sick leave as a result of employee infection with the virus will not be deducted from the salary, and it may not be calculated from the leave balance.