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In a drive to protect salaries, the Ministry of Labour has reached in cooperation with the UAE Central Bank an understanding on the implementation mechanism of the Cabinet decision on transfer of workers salaries to the financial institutions.
UAE Labour Minister HH Saqr Ghobash told Dubai TV in an interview last night, that this new partnership will be announced on May 26.
Ghobash noted that the Cabinet decision on transfer of the workers’ salaries to the financial institutions "is significant" though it faced difficulties as salaries of some workers were little in the light of the bank regulations, but he added that the central bank had pledged to solve that issue.
He hoped that a number of workers who receive salaries through the banks would rise from 500, 000 to cover the whole country.
Ghobash underscored that the transfer of workers’ salaries to the banks would be a qualitative shift in regard to the salaries’ protection and would also provide accurate data to the ministry. He added that this system will be mandatory as it will be in favour of employer and employee, indicating that a healthy relation between the two parties will create stability in the labour market.
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