KSA goes tough on illegals

March 19, 2013

KSA

Riyadh, Mar 19: Saudi Arabia has announced new measures at the Cabinet meeting chaired by Crown Prince Salman, second deputy premier and minister of defense. The Council of Ministers yesterday adopted a series of decisions to drive out illegal foreign workers who violate the Kingdom’s residency and labor regulations. The move also targets illegal coverup businesses. "The amendments to the residency law will yield positive results in terms of streamlining the labor market," said Ibrahim Al-Gorabi, a Saudi academician working for King Saud University (KSU), here yesterday.

During the meeting, Article 39 of the Labor Law was amended, preventing sponsors from allowing their employees to work for others.

The Cabinet took the decision on the basis of recommendations made by the Ministry of Interior on how to address the phenomena of foreigners working for firms and individuals other than their original sponsors and runaway domestic workers.

Al-Gorabi added that there are more illegal migrant workers in Saudi Arabia than any time in the past. The problem, he said, further compounds when a foreign worker deserts his sponsor and goes to work for another sponsor, if he or she is given a higher salary, said Al-Gorabi. He said that illegal workers also pose security as well as social problems.

Abdullah Al-Anazi, director general of the department to fight tasattur (cover up business) at the Ministry of Commerce and Industry, said foreigners involved in illegal cover-up businesses transfer more than SR 140 billion to their countries annually.

The majority of tasattur business takes place in the contracting sector (43 percent), followed by retail trade (19.2 percent) and general trade (16 percent). Exact figure of undocumented workers in the Kingdom is unavailable. According to one estimate, the number could reach two million.

The new decisions aim at reorganizing the Kingdom’s labor market and creating more job opportunities for Saudis. It also aims at strengthening the Kingdom’s security as illegal foreigners are behind many crimes including robbery, murder and drug trafficking.

“An employer is not allowed to let his worker works for others nor is he allowed to employ the workers of other sponsors,” the amended law said.

“This is a great decision,” said Dr. Abdul Rahman Al-Rabiah, a prominent Saudi businessman. “There are thousands of foreigners who do not work under their sponsors. Many of them engage in their own private enterprises illegally,” he told Arab News, adding that the Cabinet decision would help clean the market.

Al-Rabiah called for tough punishment for those who do not work under their sponsors. However, he called upon authorities to give qualified foreign workers a final chance to correct their situation “so that there will not be any excuse for them to break the law.”

Another Saudi, who requested anonymity, said the decision to drive away illegal expats would affect businesses in the country. “Many businesses have been depending on these workers who are readily available in the market for years,” he said while highlighting problems to get qualified workers. He indicated that non-availability of workers would shoot up prices of essential goods and services.

The Cabinet has instructed the Ministry of Labor to inspect facilities and investigate irregularities discovered by the inspectors, and then forward their findings to the Interior Ministry to apply penalties on the violators.

“The employer is not allowed to let his worker works for his own account, nor is the worker allowed to work for his own account,” the new law said. Foreigners involved in such illegal practices will be arrested and deported, the law warned.

The new law also applies to foreigners who have run away from sponsors, as well as employers of illegal workers, Saudis who shelter foreigner businesses and those who shelter and transport illegal workers.

This move was not supported by Refaat Karim, an Asian banker who said that the Ministry of Labor must streamline the labor sector first. Any move to detail illegal workers or workers holding valid residency permits (iqamas) but working for other sponsors will create an alarming shortfall in the labor market, Karim added. The government agencies, he said, must give an amnesty period to correct the status of the workers to enable them to stay with the sponsors for whom they are working. "According to Saudi law, once migrant workers leave their initial employers, they become illegal," he said.

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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News Network
April 26,2020

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

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Angry Indian
 - 
Monday, 27 Apr 2020

when you make money with good country you should not make doka to that country, first of all we indian have bad name in GCC now this will make more dought on indian hindus..

 

after BJP come to power in india,our country is acting like maron, this will only end with final WAR.

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News Network
April 12,2020

Apr 12: Parents in Abu Dhabi affected by the Covid-19 situation can seek help from the authorities in paying off their children's school fees, it was announced on Sunday.

The Abu Dhabi Media Office took to Twitter to announce the reprieve. The Authority for Social Contribution - Ma'an and Abu Dhabi Department of Education and Knowledge (Adek) "will support parents with children attending private schools in #AbuDhabi who are affected by the current economic challenges, by paying school fees or providing devices for distance learning".

The move is part of the 'Together We Are Good' programme which aims to support residents impacted by the Covid-19 coronavirus crisis in the country.

"Parents can call the toll-free helpline on 800-3088 or register their request at http://togetherwearegood.ae. The closing date for fee assistance applications is 23rd April 2020," the media office tweeted.

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