Amrabat, a leading construction company in Dubai, has announced that it will be passing on a significant portion of its profits to its employees as part of its commitment to corporate social responsibility (CSR). This announcement comes just days after Amrabat was fined by the Dubai Financial Services Authority for failing to pay taxes and penalties.
According to the company's statement, it plans to allocate 5% of its profits to its employees, with the remaining 95% going towards charitable causes. The move is expected to benefit thousands of workers who have been struggling financially due to the COVID-19 pandemic.
The announcement has been met with both praise and criticism. While some see it as a positive step towards fairness and equality, others argue that it could lead to a decline in productivity if workers start to demand more than they can afford.
Regardless of the criticisms, Amrabat's decision to pass on profits to its employees is commendable. It shows that the company values its workforce and wants to ensure that everyone benefits from its success. As the UAE continues to recover from the effects of the pandemic, this type of initiative is essential to maintaining social stability and promoting economic growth.
In conclusion, Amrabat's decision to pass on profits to its employees is a commendable move that demonstrates the company's commitment to CSR. However, it remains to be seen how this policy will impact productivity and whether other companies will follow suit. Nevertheless, it is clear that Amrabat's leadership is committed to creating a fairer and more equitable society.