In the News: Good News for All Private Sector Employees in the UAE (Local Banks are also included)

This came around via email this morning courtesy of a colleague:

GOOD NEWS!!!!!!

The Finance Minister of UAE has approved a rule which comes into effect on 01.04.2009 and it states that all privately held companies need to give a minimum salary increment of 15% to all employees every six months during the years of recession.

This comes as a relief to petitioners appealing against the growing work hours in the privately held organizations (including private banks) and which do not have a proper system to check overtime. The rule further mentions that all employees be provided a minimum of 30 days of casual leave every year.

Please see the attached document for the list of companies which will be brought under the umbrella of the new rule in the first round of implementation. And if the name of your company features in the list, kindly circulate this mail amongst your colleagues.

Of course this was very interesting and exciting news but it smelled fishy from the get go ... I did not fall of the apple cart yesterday! But because one has to investigate all that seems too good to be true ... (30 days of casual leave? Count me in! And a raise to boot!) ... I opened the attachment:












Bummer. Oh well, back to work I go.