In 2021 the economy crossed international economic expectations by registering the highest rate in the region of Dh1.489 trillion.
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Dubai International Financial Centre (DIFC) said on Wednesday that its amended employment law and regulations would be coming into effect soon.
The UAE Vice President and Prime Minister, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has enacted the Employment Law Amendment Law No. 4 of 2021, which makes amendments to the Employment Law, the region's leading international financial hub said in a statement.
"The Board of Directors of the DIFC Authority also issued new Employment Regulations, which brings the Qualifying Scheme regime under the employment law in line with DFSA's Employee Money Purchase Scheme, so that only a single layer of regulation is applied to these schemes," it said.
The amendments to the employment law clarify the application of limitation periods to claims, the accrual of vacation leave, the duration of the probationary period for short-term fixed-term contracts, and certain defined terms used in the law. The amendment also modifies the basic workplace health and safety requirements to account for working from home arrangements.
The statement said that the amendments reflect the centre's continuing commitment to maintaining a transparent and robust legal and regulatory framework aligned with global best practice.
Initially proposed in March this year, the enactment of amendments was aimed at enhancing the regulatory framework in DIFC, keeping it in line with international best practice.
- issacjohn@khaleejtimes.com
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