|14 August, 2019

Ajman Free Zone signs MoU with Dubai Insurance Company

The new service will replace the current bank guarantee

Ajman Free Zone signs MoU with Dubai Insurance Company

Ajman: 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.

-Ends-

About Ajman Free Zone: Ajman Free Zone has played a pivotal role in becoming Ajman’s biggest contributor to prosperity and happiness. As part of Ajman Vision 2021 and the greater UAE vision 2030, Ajman Free Zone is undergoing a major redevelopment. The key components of this redevelopment are centered around Ajman Free Zone's general business operations, digitizing the business, partnering with key stakeholders and investors, developing and expanding infrastructure and tapping into new target sectors. The free zone has become more future-focused and is investing heavily in diversifying its portfolio in areas such as Advanced Technology, Artificial Intelligence, Nano Technology, as well as in Education, Health and Retail. These new target sectors and partnerships aim to not only attract new business but equally important, create a dynamic and holistic environment for the Emirate of Ajman - one with greater access to international markets and a bigger opportunity for collaboration.

For more information, please contact:

Raee Public Relations

Tel: +971 4 4506880,
Fax: +971 4 3695482,
Email: m.salim@raeeme.com 

© Press Release 2019

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