Ajman Free Zone signs MoU with Dubai Insurance Company
The new service will replace the current bank guarantee
Ajman, United Arab Emirates (August 14, 2019): Ajman Free Zone has signed a Memorandum of Understanding and associated documents with Dubai Insurance to provide insurance services to workers employed by companies operating within the Free Zone.
The new service will replace the current bank guarantee system and will cover all workers’ dues including the end of service gratuity, annual leave unpaid salaries and the cost of a return ticket home.
Mohammad Tahsin Al Ali, Chief Operating Officer at Dubai Insurance Company attended the signing ceremony, with Fatma Salem, Acting General Manager of Ajman Free Zone and senior representatives from both parties.
Acting General Manager of Ajman Free Zone, Fatma Salem commented: “This agreement forms part of our endeavours to protect the rights of all workers in Ajman Free Zone, as well as assisting investors by removing a financial commitment. We will continue to take more steps towards making workers’ lives easier, while safeguarding investors’ interests.”
As per the MoU, Dubai Insurance Company will issue insurance documents for workers that aligns with the terms and conditions stated, ensuring the targeted objectives are achieved in a timely manner.