Pictures of the week: From sunning carpets in Antalya to diving into the Euphrates
'Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,' she explains.
'Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer's discretion and require approval.'
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
25 minutes ago
- Zawya
Dubai Centre for Family Businesses introduces three advisory services
DUBAI - The Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, has launched three new specialised advisory services to support the sustainable growth of family businesses. The initiative aims to strengthen the governance of family-owned enterprises operating in Dubai, enhancing their future readiness and enabling them to navigate the evolving economic landscape, overcome challenges, and capitalise on promising opportunities. The new services reflect the Dubai Centre for Family Businesses' ongoing commitment to enhancing the economic contribution of family businesses in support of Dubai's future development plans. The centre aims to strengthen the competitiveness of this vital sector by safeguarding its interests, streamlining operations, and investing in leadership development to ensure long-term sustainability. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, 'Family businesses remain a vital engine of growth, diversification, and innovation within Dubai's economy. Ensuring their continued success is essential to enhancing the emirate's competitiveness and driving sustainable long-term growth." He added that the centre is committed to empowering these companies to navigate economic developments and embrace global best practices, which contributes towards strengthening the local private sector and reinforcing Dubai's position as a global hub for trade and investment. The first new service is the Current-State Assessment & Family Constitution Review, which offers an in-depth evaluation of a family business's current governance framework. This includes a thorough review of existing Family Constitutions, leveraging the centre's automated Family Business Governance Assessment Tool to evaluate the maturity of their governance processes against regulatory requirements, leading industry practices, and global standards. This service assesses governance frameworks, identifies gaps and risks, encourages alignment among stakeholders, and provides tailored recommendations for enhanced governance and long-term growth. The second service, Family Constitution Drafting, provides a strategic roadmap for family businesses, outlining policies, governance structures, and decision-making processes crucial for long-term sustainability. The centre will assist in drafting these vital documents, drawing insights from interviews with family members and key stakeholders. Through facilitated workshops and discussions, the service ensures alignment and buy-in from all family members, designing a document that captures their collective vision and values, alongside clear nomination, eligibility criteria, and decision-making processes relevant to the organisation's governing bodies. This service defines roles and responsibilities, formalises shared vision and values, fosters open dialogue, and establishes clear rules to prevent future conflicts. The third new service is the Family Office Blueprint service, which guides families in establishing a private platform dedicated to managing their wealth, investments, and personal affairs. The centre facilitates workshops designed to enhance understanding of Family Offices, supporting families in defining their specific objectives, the range of services it will provide, and the necessary staffing requirements. This service clarifies the purpose, scope, and strategic goals of a Family Office, explores the full range of services for wealth management and legacy planning, and identifies the key skills and roles required for an effective Family Office structure.
Zawya
25 minutes ago
- Zawya
CORRECTION: Blockchain Fintech Shiga Digital Empowers African Businesses with Digital Finance Tools
Shiga Digital ( a fast-growing fintech company focused on blockchain-based financial applications, is redefining how pan-African businesses access and interact with modern financial services while unlocking the transformative potential of blockchain finance to empower Africa's economic growth. Shiga Digital has recently been awarded the prestigious DIFC (Dubai International Financial Centre) Innovation License, marking a significant regulatory milestone that underscores the company's commitment to operating within a robust and well-respected regulatory framework. The additional license, overseen by the Dubai Financial Services Authority (DFSA), provides Shiga Digital with enhanced credibility and regulatory certainty as it continues to expand its blockchain-based financial services across Africa. The DIFC Innovation License positions Shiga Digital within one of the world's leading financial centers, offering access to a sophisticated ecosystem of banks, asset managers, and financial service providers while operating under a clear regulatory framework specifically designed for virtual assets and blockchain technology. This achievement reinforces the company's dedication to compliance and building trust with stakeholders across the continent. Shiga Digital's platform was built specifically for African businesses seeking alternatives to legacy financial systems. By integrating blockchain-based tools, the company simplifies payments, enables faster cross-border trade, offers treasury management solutions, and provides transparent access to stable, secure digital finance. As a professional partner, Shiga Digital makes it easy for companies to start using blockchain technology, removing the traditional barriers that have made it difficult for businesses to leverage these powerful tools without an intermediary. The blockchain enables remarkable efficiency in critical business areas including payment processing, cross-border transactions, treasury operations, and financial reporting. However, in its current state, without an intermediary like Shiga Digital, it remains very difficult for most businesses to effectively leverage blockchain technology. This is precisely why Shiga Digital's solutions have become the go-to choice for forward-thinking African companies. Shiga Digital's capabilities were recently further boosted by a significant investment and formation of a strategic partnership with Tether, the largest company in the digital asset industry. This move signals growing international confidence in Africa's fintech potential and Shiga Digital's innovative approach to making blockchain finance accessible across the continent. The company is now uniquely positioned to help grow blockchain adoption among both customers and regulators alike, thanks to its deep understanding of African markets, regulatory compliance expertise, and commitment to building locally relevant solutions. By partnering with licensed financial transmitters in each of its markets, Shiga Digital ensures its services are fully compliant and aligned with applicable regulatory requirements, fostering trust and confidence among stakeholders. "Africa is on the cusp of a financial transformation, and at Tether, we believe in being more than just observers; we are active enablers," said Paolo Ardoino, Chief Executive Officer at Tether. "Our strategic alliance with Shiga Digital is rooted in a shared belief that access to stable, secure, and scalable financial tools should not be a privilege, but a right. This partnership represents a long-term commitment to equipping African businesses with the technology and infrastructure needed to thrive in an increasingly digital global economy. Together, we are unlocking new pathways for growth and innovation and helping to shape a more inclusive financial future for the continent." "At Shiga Digital, we're not just developing technology, we're building the infrastructure that will power Africa's financial future," added Abiola Shogbeni, Co-Founder and Chief Executive Officer at Shiga Digital. "Our mission is to level the financial playing field by equipping African businesses with blockchain tools that are intuitive, reliable, and locally relevant. We've experienced firsthand how seamless financial services can be in developed markets, and our goal is to make that a reality on the African continent as well. The opportunity before us is immense, blockchain finance has the power to empower Africa in unprecedented ways, and we're working tirelessly to enable this transformation for our customers." "What sets Shiga Digital apart is not just what we're building, but why and how we're building it – blockchain-based technology that makes digital finance accessible and relevant to African businesses," said Dami Etomi, Co-Founder and Chief Operating Officer at Shiga Digital. "Our partnership with Tether is more than financial backing; it's a strategic alliance rooted in a shared commitment to empowering the future of digital finance in Africa. The DIFC Innovation License further validates our approach and commitment to regulatory excellence. Together, we're co-creating solutions and scaling impact to ensure African businesses are not only included but thrive in the global digital economy." The company's end-to-end platform, available via offers businesses a reliable alternative to traditional banking systems, enabling seamless cross-border trade, simplifying stablecoin payments, providing comprehensive treasury management capabilities, and offering access to secure digital asset investments. By combining global technical standards with local insights, Shiga Digital's unique perspective enables the fintech to deliver intuitive and effective tools specifically designed for businesses across the African continent which can be accessed via web application and will soon be available via mobile app for iOS and Android devices. Aligning with its vision of a world where financial freedom is not a privilege but a fundamental right, Shiga Digital's innovative solutions are empowering African businesses with cutting-edge digital financial tools that harness the full potential of blockchain technology to drive economic growth and prosperity across the continent. Distributed by APO Group on behalf of Shiga Digital. Contact: Daniel Okechukwu +2348067499714 daniel@ About Shiga Digital: Shiga Digital is an international fintech company specialising in the development of cutting-edge applications utilising blockchain and AI technology. The company is dedicated to bridging the gap between traditional finance and blockchain, enabling users to access blockchain-powered financial services from anywhere, at any time. Founded in 2021, Shiga Digital provides innovative solutions to clients in over 15 countries worldwide, making digital finance more accessible and efficient for both businesses and individuals through professional partnership and expert guidance in blockchain adoption. If you are a business looking to understand more about how you can start to securely leverage blockchain technology, you can speak to us at product@ or contact us through the form at
Zawya
25 minutes ago
- Zawya
As Family Firms fuel 60% of GCC GDP, Pearl Initiative and Landmark Group spotlight the role of corporate governance in sustaining growth
Nisha Jagtiani, Group Director and Board Member at Landmark Group, shared the company's journey in building strong governance to support growth and generational transition across 2,500+ stores. With family businesses contributing 60% of GCC GDP, the session highlighted practical strategies for resilience, succession, and legacy. The Pearl Initiative's inaugural webinar explored how aligning family values with structured governance enables long-term success. Sharjah, UAE – Pearl Initiative, a leading non-profit organisation dedicated to advancing corporate governance in the Gulf region, successfully launched a new fire-side series, titled 'From Vision to Practice: Governance Talks with Family Business Pioneers', with the first edition featuring Nisha Jagtiani, Group Director and Board Member of the Landmark Group. In a compelling and candid conversation, Nisha reflected on the governance journey of one of the Middle East's most prominent family-owned enterprises, offering actionable insights for family firms navigating the complexities of growth and continuity. Family businesses form the backbone of the Gulf Cooperation Council (GCC) economy, contributing approximately 60% of GDP and employing over 80% of the workforce. With 90% of the private sector in the UAE and Saudi Arabia comprising family-owned businesses, robust governance frameworks are vital to sustaining their economic impact. Nisha Jagtianishared how the company has institutionalised governance to ensure resilience across its 2,500 stores in the Middle East, North Africa, India, and Southeast Asia. During the session, Nisha emphasised the importance of aligning family values with professional governance structures. 'Governance isn't just about rules; it's about creating a shared vision that sustains the business and the family legacy,' she said. She highlighted how the Landmark Group, a retail powerhouse in the $808.51 billion MENA retail market, has implemented clear board structures, transparent decision-making processes, and ethical standards to balance growth with long-term stability. Key outcomes included practical strategies for managing family dynamics, such as establishing independent boards and succession planning, which have helped Landmark Group navigate challenges whilst maintaining its competitive edge. The discussion also underscored the role of governance in fostering innovation and adaptability. Nisha explained how the Landmark Group's commitment to robust governance practices has strengthened stakeholder trust, enabling the company to thrive in a retail sector projected to grow to $855.97 billion in 2025. She cited the Group's omnichannel strategy as a testament to how governance supports agility, allowing the business to meet evolving consumer demands in a digitally driven market. Ralph Choueiri, Executive Director of the Pearl Initiative, stated 'This series was created to bring real, lived experience to the forefront. There's enormous value in hearing directly from leaders who have faced governance challenges head-on and emerged stronger. Nisha's openness and insight were a powerful reminder that governance isn't just about control, but it's about enabling growth with purpose.' Hosted as part of Pearl Initiative's Governance in Family Firms Programme, the webinar reinforced the organisation's mission to empower family businesses with best practices in corporate governance. The session attracted a diverse audience of family business leaders, and industry experts, sparking a lively exchange on the opportunities and challenges of governance in family firms. Through an engaging and in-depth dialogue, the session explored Landmark Group's governance journey highlighting the complexities and opportunities of balancing growth with family continuity. Attendees left with practical takeaways from key governance strategies and mechanisms to leveraging data-driven decision-making to ensure their businesses thrive in a dynamic economic landscape. About the Pearl Initiative The Pearl Initiative is the Gulf region's leading independent, non-profit organisation working to promote the business case for a corporate culture of accountability and transparency. Established in 2010 by regional business leaders in cooperation with the United Nations Office for Partnerships, the Pearl Initiative is the only private, non-profit Gulf business network to receive special consultative status from the United Nations Economic and Social Council. The Pearl Initiative runs a series of corporate governance related programmes, including Anti-Corruption Best Practices, Diversity in Business Leadership, Governance in MSMEs, Governance in Family Firms, Governance in Tech, and Governance in Philanthropy. The organisation also conducts locally relevant research, hosts workshops and executive education training sessions, and convenes business leaders, policymakers, students, and non-profit executives to encourage a proactive approach to implementing best practices in the workplace across the Gulf region.
