Tuesday, March 16, 2010

One Million workers receive wages through WPS (WAM)

14 March 2010 Abu Dhabi - The number of workers receiving wages through the Wages Protection System (WPS) has exceeded to one million 500 thousand.

This includes one million 200 thousand workers targeted during the first phase of the system application.

The statistics of Labor Ministry show that more than three thousand frims converted their workers’ wages through WPS out of four thousand and 100 during the first phase. While the total number of firms is more than nine thousand.

The number of banks licensed to provide the service by the Central Bank have reached 53 and the number of foreign exchange firms to 22 besides four other companies providing the service.

His Excellency Saqr Gobash, Minister of Labor, said: ‘ I am satisfied with the performance of the system, stressing that the results achieved so far reflect the right direction of the ministry, which aims to regulate the labor market and provide a safe and effective working environment through the creation of innovative solutions to ensure the rights of workers and take into account the interests of the owners at the same time’.

He called firms that have not yet registered in the system to expedite the transfer of their worker’s wages through WPS before the deadline as stated in the Ministerial Decision No. / 788 / for the year 2009.

The number of firms who have been suspended for missing their workers’ wages by transferring them through WPS during the first phase is 800.

The Ministry has agreed to extend the deadline for 300 firms who earlier found delayed the transfer of wages within the dates specified, after obtaining concrete evidences that they have given their workers’ wages through traditional ways.

WPS is an initiative to safeguard payment of workers’ wages via transfers through selected financial institutions, that will be authorised as well as regulated by the government. This initiative greatly enhances the Ministry of Labor’s ability to implement preventive measures to reduce labour disputes pertaining to wages and offer solutions that will guard workers and employers against keeping large amount of cash at work places.

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