Ras Al Khaimah, UAE – Ras Al Khaimah Economic Zone (RAKEZ) has announced the launch of the Workers Protection Insurance Programme, a landmark initiative in collaboration with RAKINSURANCE. This programme is designed to significantly bolster the financial security and welfare of workers employed by RAKEZ-registered companies. The initiative is in line with the Ministry of Human Resources & Emiratisation’s (MoHRE) strategic focus on enhancing employee financial security.
The newly introduced insurance programme is set to replace the existing visa deposit requirements, offering comprehensive coverage that includes unpaid salaries, end-of-service gratuity, repatriation costs, and protection against work-related injuries. By implementing this insurance solution, RAKEZ underscores its commitment to fostering a secure and thriving business environment, aligning with the UAE’s broader goals for employee rights and corporate governance, and supporting Ras Al Khaimah’s vision of improving the quality of life for its workforce.
The official signing of the strategic partnership took place with RAKEZ Group CEO Ramy Jallad and RAKINSURANCE CEO Sanjeev Badyal in attendance. The event highlighted the collaborative efforts to strengthen worker protections and contribute to Ras Al Khaimah’s economic and social development.
“At RAKEZ, we are deeply committed to the well-being of the workforce within our community. The launch of the Workers Protection Insurance Programme marks a significant milestone in our ongoing efforts to provide a secure and prosperous environment for employees of RAKEZ-registered companies. This initiative is not just about compliance, but about going above and beyond to ensure that our business community is supported at every level. By safeguarding the interests of these workers, we strengthen the foundation of trust and stability that RAKEZ is built upon,” said Ramy Jallad, Group CEO of RAKEZ.
Sanjeev Badyal, CEO of RAKINSURANCE, echoed this sentiment, stating, “We are thrilled to announce our partnership with RAKEZ. Together, we are launching a Workers Protection Insurance Scheme to ensure a safer and more secure future for all workers employed by businesses in RAKEZ. This collaboration demonstrates our shared commitment to employee welfare.”
The launch of this insurance programme provides peace of mind to workers and positions RAKEZ as a forward-thinking organization dedicated to community welfare. Moreover, it enhances Ras Al Khaimah’s appeal as a top business destination by reducing financial risks for employers and boosting job security for employees.
