The Dubai Multi Commodities Centre (DMCC), one of the world’s leading free zones providing a dynamic business environment for companies, has implemented a new Wage Protection System (WPS) as part of its efforts to promote fair and ethical business practices, protect worker rights, and ensure timely payment of wages.
WPS is an electronic salary transfer system that allows companies registered in the United Arab Emirates (UAE) to pay employees’ wages via banks or exchanges that are approved and authorized to provide the service. This system, developed by the Central Bank of the UAE (CBUAE), allows the regulator to create a database that records wage payments in the private sector to ensure the timely and full payment of agreed-upon wages.