BankDhofar organises awareness sessions on Wage Protection System

Roundup Tuesday 07/November/2017 18:36 PM
By: Times News Service
BankDhofar organises awareness sessions on Wage Protection System

Muscat: As part of its endeavour to foster positive communication with its customers and ensure a clear understanding of updates in banking transactions, BankDhofar recently held awareness sessions for corporate customers on the implementation of the new Wage Protection System (WPS).
The session aimed at raising awareness among corporate customers on the importance of the new system and requirements of submitting the new format.
Organised by BankDhofar Performance Academy, more than 150 of BankDhofar corporate customers in eight batches attended the awareness session.
Elaborating on the importance of conducting the training session, Dr Khalid Al Hamadani, head - Learning & Development noted, “At BankDhofar, customers are the core of its success and operational growth. Making sure that our corporate customers are aware of all the updates in banking transactions is essential to for their business to run smoothly.”
The new WPS is introduced in collaboration with Ministry of Manpower and the Central Bank. The new system will be able to track employees’ salaries and their transfer to accounts at local banks in accordance with stipulated laws and conditions in Labor Law. The new WPS focuses on creating an accurate database concerning working wages.
“Companies will have to start using the new form starting from November 18, 2017, as the old form will no longer be accepted. Abiding by the new salary form will prevent any delay in processing the wages of employees,” Hamadani added.