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ABU DHABI / WAM
Around AED1 billion worth of wages was transferred through UAE Wages Protection System (WPS) during the period from 2013 through 2017.
According to CBUAE statistics, salaries transferred thro-ugh WPS has been on a rise over past five years, increasing from AED147 million in 2013 to AED170.6 million in 2014. In 2015, AED196 million worth of salaries was transferred, over AED211 million in 2016.
The WPS is an electronic salary transfer system that allows companies and institutions to pay workers’ wages via banks, bureaux de change, and financial institutions approved and author- ised to provide the service.