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MUSCAT : The brand new Social Safety Regulation will come into pressure from January 1, 2024 after His Majesty Sultan Haitham bin Tarik issued a Royal Decree promulgating after presenting the identical earlier than the Council of Oman.
The Royal Decree additionally instructed the Chairman of Board of Administrators of the Social Safety Fund to problem the manager regulation of the legislation, inside a interval not exceeding 6 months from the date of problem of this decree, in addition to the selections mandatory for the implementation of provisions of the legislation connected to this decree.
In the meantime, in an announcement issued, the Council of Ministers thanked His Majesty and famous that the legislation mirrored “a sustainable imaginative and prescient that gives protection and social safety for various segments of society in a means that achieves the objectives of Oman Imaginative and prescient 2040.”
The Council of Ministers expresses its due to the Council of Oman and the ministerial committee shaped to oversee all mandatory procedures for merging pension funds and conducting mandatory research to restructure, develop and devise built-in insurance policies for the social safety system.
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