As part of its vision and strategy, the General Organization for Social Insurance “GOSI” recognized the need to find a program that protects workers in the private sector from the risk of being unemployed due to circumstances beyond their control, which would lead to some negative social, economic and psychological effects. The Unemployment Insurance Law “SANED” has been approved by royal decree and launched in 2014. SANED provides: • A monthly source of income during the transition period between the previous job and the chance to get a new job. • Developing professional skills by providing training and supporting the unemployed to find new job opportunities in cooperation with other government entities mainly the Ministry of Labor and Social Development “MLSD” and Human Resources Development Fund “HRDF”. The unemployment insurance program is applied mandatory to all Saudi workers in the private sector and government employees subject to the social insurance law. Since implementing SANED, GOSI has noticed a great increase in the number of beneficiaries by 100 per cent in 2017 compared to the year of 2015.
SA- Riyadh 11461
Saudi Arabia