Lagatar24 Desk
Dubai, Dec.7: The United Arab Emirates announced on Tuesday that, beginning next year, it will switch to a four-and-a-half-day work week with a Saturday-Sunday weekend to better align its economy with global markets.
The oil-producing Gulf state now has a Friday-Saturday weekend, making it a regional commercial, commerce, and tourism magnet. The weekend would begin on Friday afternoon on January 1, 2022.
At a time when the UAE’s economic rivalry with Saudi Arabia is rising, the UAE has made steps in the last year to make its economy more attractive to global investment and expertise.
The government’s working week will begin on Monday and end at 12 noon on Friday, before Muslim prayers, the government said in a statement, adding that this will promote employees’ work-life balance.
The change will “guarantee smooth financial, trade, and economic interactions with nations that follow a Saturday-Sunday weekend, promoting deeper international business relations and opportunities for thousands of UAE-based and multinational enterprises,” according to the government.
The banking sector, according to Mohammed Ali Yasin, chief strategy officer at Al Dhabi Capital, will gain from the ability to execute simultaneous payment settlements with established markets, as will the tourism industry.
He stated, “It may be a useful experiment for other countries in the region.” Notably, in many mostly Muslim countries, Friday is a weekly holiday.
Monica Malik, an economist with Abu Dhabi Commercial Bank, predicted that many private sector enterprises in the UAE will adopt the Saturday-Sunday weekend, calling it a “quite significant step” in light of other recent reforms.
To recruit and retain talent and encourage more firms to invest, the UAE has liberalised rules surrounding cohabitation before marriage, alcohol, and personal status laws, as well as introducing longer-term visas.
