RIYADH: The Insurance Authority and Saudi Arabia’s Ministry of Human Resources and Social Development have introduced an insurance program that will reimburse unpaid salaries for a maximum of six months and offer travel support to foreign nationals living in the Kingdom in the event of private sector defaults.
“The Expatriate Worker Wage Insurance Service for Private Sector Defaults is part of the ministry’s ongoing efforts to protect both workers and employers, while enhancing the overall efficiency and appeal of the Saudi labour market,” Abdulrahman Al-Zaid, director general of international communications and cooperation, told Arab News. The goal of the initiative is to make Saudi Arabia a top destination for global talent by fostering a more secure work environment.
According to him, the service provides certain benefits specified in the policy, enabling foreign employees of defaulting companies to get their benefits within the policy’s financial bounds and, if they so choose, to provide a plane ticket back to their country of origin.
The ministry has implemented a number of policies to protect the interests of both employers and employees, including insurance.
“In rare cases when wages are not fulfilled, this insurance service will cover unpaid wages and entitlements for up to six months, with a maximum compensation payout of SR17,500 ($4,661) provided the combined rights of all workers do not exceed the” Al-Zaid described how the insurance policy functions for the benefit of the expatriates.
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