The value of salaries transferred through WPS within 5 years

MEDIA, Abu Dhabi, July 29, 2006 (WAM)
The value of wages transferred through the WPS has been around AED 1 billion over the past five years, according to a special analysis of the movement of the system’s activity between 2013 and 2017.
The Ministry of Human Resources and Localization issued a system of protection of wages about ten years ago in order to guarantee the rights of workers and protect them and to establish confidence between employers and workers in order to raise the level of government performance and provide the best and fastest services to the public.
Under the special instructions for the work of the system developed by the Central Bank of the UAE companies must transfer the salaries of their workers across the system and punish and fined and suspended work permits for companies that do not comply with the decision.
Experts in the sector said that one of the most important advantages of the system is to save time and effort in the method of payment of wages, in addition to enhancing the productivity and loyalty of workers, stressing that the system also contributed to ensure that companies pay their wages on a regular basis. Places of work.
The protection system grants the employer the right to choose one or more agents who have the central bank license to participate in this system. The bank accredited to the entity sends payroll notification information to the WPS once it is received for the system to send the workers’ data, wages and financial instructions electronically to the central bank which In turn sends them to the database of the Ministry of Human Resources and Emiratisation to ensure that they correspond to the data registered with the Ministry and then send the system information approved to the designated agent to distribute wages to the beneficiaries.
It is noteworthy that the number of enterprises registered in the system of protection of wages exceeded 321 thousand establishments, which constitute 94.7% of the total companies operating in the private sector