Al Fardan Exchange launches domestic workers salary payment services across UAE

By Leandra Monteiro

Al Fardan Exchange L.L.C, a 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.