Hamdan bin Mohammed approves the launch of the "Provision Fund for Foreign Employees in the Government of Dubai"
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, approved the launch of the "Provision Fund for Foreign Employees in the Government of Dubai", which will enhance the system of end-of-service benefits, under the supervision of the Dubai International Financial Center and in partnership with several international institutions that provide attractive investment opportunities. And safe, in order to ensure the attraction and retention of talent by providing an integrated system that provides various savings opportunities for employees in financial portfolios that develop their entitlements and savings to ensure their present and future.
This came during His Highness presiding over the Executive Council meeting, which was held today (Wednesday) in "Deep Dive Dubai" in the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance and First Deputy Chairman of the Executive Council. of the topics on the agenda.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum stressed that this step comes within the framework of the process of continuous development of the capabilities of the government sector, enhancing its attractiveness to the best qualified cadres in its various fields, and creating the best supportive conditions for all its employees, whether citizens or residents, in compliance with Dubai's approach in the field of Distinguishing the government sector and in order to provide all its employees with all the ingredients that guarantee them and their families a decent life, whether during their stay on the job or after the end of their service period, while following the best international practices in this regard and applying what suits them with what Dubai hopes for its government employees and guarantees that guarantee their rights and contribute to their development.
His Highness said: "We directed the formation of a steering committee headed by the General Secretariat of the Executive Council to prepare an integrated plan to ensure that the fund achieves its objectives, through which we seek to achieve the best advantages for our resident sisters and brothers in the Dubai government, in appreciation of their efforts and in order to help them develop their dues in a thoughtful economic manner that takes into account their future. and the future of their dependents.
His Highness added: "Through the continuous development of the labor system in Dubai, we seek to enhance the attractiveness of the labor market in the emirate and increase its level of flexibility that supports and empowers employees, which confirms the upgrading of the services provided, and at the same time guarantees the rights of resident employees in appreciation of their contributions as partners in our comprehensive development process. The Provident Fund is a new step towards attracting more talents, innovators and investors in various fields, and we will continue to work to consolidate Dubai’s position as the best city to live and work in the world.”
The new fund contributes to attracting and retaining the most prominent and qualified international talents to work in Dubai, within an integrated system that enhances the attractiveness and flexibility of the labor market in the emirate, similar to the leading countries in this field, which have labor markets that are considered the best in the world.
The Provident Fund also provides employees with many financial advantages, most notably the opportunity to save in financial portfolios to develop their savings and provide financial sustainability for them and their families, and to protect and manage financial dues more effectively, as the financial dues will be deposited in the Fund starting from the date of subscription to the system without including financial dues for years The previous service, to which the current legislation applies, in addition to enabling employees to choose multiple investment mechanisms that include traditional investment funds, and others compatible with Islamic Sharia, as well as providing options that ensure capital protection for employees who do not wish to invest their dues.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum directed the formation of a steering committee headed by the General Secretariat of the Executive Council and membership of the Department of Finance, the Department of Human Resources of the Government of Dubai, the Department of Legal Affairs of the Government of Dubai, the Supreme Legislation Committee and the Dubai International Financial Centre. On the progress of the Fund’s work, achieving its objectives, and studying the extent to which this system can be applied voluntarily to workers in the private sector in the Emirate of Dubai, in accordance with the legislation in force in this regard, after coordination with the competent federal and local authorities.
The added value
and the fund will enhance the financial liquidity invested in Dubai during the next phase, to devote the quality and leadership of the supportive financial environment in the emirate, as the idea of the employee provident fund comes after the successful experience that the Dubai International Financial Center started on all the employees of the region affiliated with the center in the year 2020.
The board of trustees and international investment destinations, under the supervision of the Dubai International Financial Center, will assume the duties of supervising the fund within a governance system that ensures the efficiency and effectiveness of the fund in a way that serves the employee’s interest first and then provides multiple investment fields, in addition to supporting the planning and management of human resources and workforce in Dubai, through Securing financial dues related to the end of service for employees on a regular and sustainable basis within an integrated system that is managed with high efficiency.
traffic safety strategy
In addition, the Executive Council approved the Dubai Traffic Safety Strategy 2022-2026 that was developed by the Dubai Roads and Transport Authority and the Dubai Police General Command. The strategy aims to make Dubai one of the safest cities in the world and achieve the zero mortality vision, by developing And the implementation of 53 strategic initiatives that fall into four main axes, including traffic control, road and vehicle engineering, traffic awareness, as well as systems and management.
Dubai has achieved leadership in the field of traffic safety to match the most prominent countries and cities in the world in this regard, and the strategy will complement what has been achieved within the objectives of the National Agenda and Dubai Plan 2021, and will include finding and providing alternative and sustainable individual means of transportation, while ensuring the application of the highest standards of traffic safety in accordance with forward-looking visions based on On the continuous development to consolidate an integrated system for the road and traffic safety sector, taking into account the latest technologies and ingredients that contribute to reducing traffic accidents and reducing their impact on lives and property, as Dubai pays great attention to infrastructure and projects in general, especially those related to roads, with the aim of protecting community members and contributing to Growth and development of the national economy.
Follow our latest local and sports news and the latest political and economic developments via Google news