Saudi Arabia implements Employment Interruption Insurance scheme

Analysis

On 1 July 2013, the Saudi Shura Council met and approved a draft Law in relation to Employment Interruption Insurance (the EIIL). Despite the significant interest in the Saudi media at the time there was limited information available to the public in respect of the EIIL. These details have now been published on 14 February 2014 in the Official Gazette (Um Al-Qura), the Employment Interruption Insurance scheme (Saned) was officially established following King Abdullah's approval of the EIIL. The EIIL is to commence within 6 months from the date of the publication.

Contributions to Saned