This will see Al Fardan Exchange L.L.C offer employers and domestic workers a convenient Salary Payment Service, in line with UAE government’s guidance
Dubai, UAE: Al Fardan Exchange L.L.C, the leading money transfer and currency exchange firm which is licensed and regulated by the Central Bank of the United Arab Emirates (UAE), has announced the launch of Domestic Workers Salary Payment Service through ‘Wages Protection System” (WPS) across its network, allowing employers a convenient platform to pay their domestic workers’ salaries.
Al Fardan Exchange has introduced the service in line with the directives of the UAE Central Bank, as well as the UAE Ministry of Human Resources & Emiratization to ensure enhanced transparency and security for both, employers and their staff.
Hasan Fardan Al Fardan, CEO of Al Fardan Exchange L.L.C., said: “As a homegrown company and innovative market leader, our journey has continued to reflect the dynamic evolution of the UAE, and with our new Wages Protection System, Al Fardan Exchange is facilitating a 21st-Century human capital solution – one that is totally aligned with the recommended government guidance. The WPS system offers yet another flexible, secure and convenient payment platform with far less paperwork for a large percentage of the UAE’s most vital workers, while simultaneously protecting both employers and domestic staff. In addition to increasing transparency through the creation of third-party, proof-of-payment records, WPS will offer customers value-added efficiencies across each touchpoint.”
The digital salary payment service, now available at the wide network of Al Fardan Exchange branches across UAE. This entails the capability to process salary payments to a range of domestic workers, including the unbanked. The system uses less documentation, is extremely user-friendly and provides multiple options for salary deposits which allows for optimum convenience. Domestic workers can also enjoy the benefits of Al Fardan Exchange’s customer portal & Payez Payroll Card which can be used as a debit card for both salary withdrawal and shopping. They can also send money to their home countries using the various channels of Al Fardan exchange’s remittance service.
About Al Fardan Exchange
Al Fardan Exchange is a member of the Al Fardan Group, which has roots stretching back to 1954. Emerging from a seafaring and pearl trading tradition to a commercial trade, the Al Fardan name is built on a solid bedrock of security and reliability. Leveraging on the Group’s diversified business interests and successful operations in real estate, high-end jewellery and financial services, Al Fardan Exchange holds global reach with trust and credibility as its main ethics, and is regulate by the Central Bank of UAE.
Established in 1971, Al Fardan Exchange has had the unique opportunity of playing a part in supporting communities who have helped build this nation, by helping them bring life to their own dreams – both here and in their home countries. Today, we are incredibly proud to serve the UAE’s cosmopolitan community through our 75+ strong network, spanning across all Emirates. Reinforced by strong relationships with over 150+ global corresponding banks, financial institutions, and other financial service providers, we offer secure transactions that firmly place reliability and trust in the forefront.