The cabinet in Saudi Arabia has given its approval for the implementation of an insurance scheme to protect the rights and benefits of Expatriate workers in the private sector, The Saudi Arabia's government to bear the costs of applying the insurance product.
The new scheme targets Expatriate workers of Saudi Arabia in private sector companies, It will to contribute worker's rights, if they are blocked and reduces the risk of any negative effects if companies collapse said Al Rajhi.
He explained that the insurance product's approval is an expression of the high interest of Saudi Arabia to pays the private sector enterprises and to enhance its role as a major partner in developing the National Economy and providing more job opportunities reports AlBilad news.
The Saudi cabinet has approved the formation of a committee comprising representatives from the Human Resources and Social Development Ministry, Finance Ministry and SAMA to undertake the following:
1. Classifying the Expatriate workers in private sector companies targeted in applying the insurance product.
2. Setting the necessary controls and mechanisms to implement the insurance product.
3. Determine the value of insurance policy, as per the insurance companies monitoring law.
SOURCE SAUDIEXPATS
