DOHA: Doha Bank recently launched a series of digital workshops on Wage Protection System (WPS) for its corporate customers with the aim of helping them meeting the requirements under the newly implemented wage payment system, said a statement yesterday.
The WPS initiated by the Ministry of Labour and Social Affairs and Qatar Central Bank to monitor and document the process of workers’ payments. It was launched with the objective of promoting transparency, security and stability by establishing a safe work environment and saving workers and employers from keeping cash in their workplaces which may be exposed to loss or theft.
The move to introduce the WPS system is seen as an expression of the Government’s strong commitment to labour reforms and forms part of its wider efforts to improve the living and working conditions of migrant workers and ensure they receive their pay on time.
Dr R Seetharaman, Group CEO of Doha Bank, said: “The Wage Protection System is a landmark initiative that will bring far-reaching benefits to workers in Qatar by introducing greater transparency and ensuring wages are electronically transferred direct to workers’ bank accounts.”
The first WPS workshop was held on August 31 and was attended by over 100 corporate customers followed by a series of customer training sessions and workshops. The workshop featured a live demo of the online processing of salaries under the WPS system, along with a demo booth for giving clients a hands-on experience of Doha Bank’s innovative ‘Tadbeer’ cash management system that has been transforming the way businesses in Qatar control and manage their finance.
A highly flexible system tailored to give customers maximum control over their business, ‘Tadbeer’ is designed to address a full range of collections, payment, liquidity management, and reporting services, providing customers a single online interface that is capable of managing all aspects of their cash management requirements, including payables, receivables and liquidity information.
“Our electronic banking system is designed to ensure a full and precise overview of accounts at all times. By providing customers direct, real-time access to their bank accounts and by centralising their receivables and payables on one electronic banking system, ‘Tadbeer’ empowers organisations across the business spectrum with unparalleled control of their cash management operations, allowing them to manage their cash flow faster and more efficiently,” he added.
The Peninsula
