Dubai: Employees in the construction sector in the UAE can now receive their salaries on their doorstep, thanks to Wall Street Exchange, the financial services arm of Emirates Post Group.
Wall Street Exchange has started disbursing salaries through mobile teams in certain places, usually housing jobs in fixed days.
Wall Street Exchange has started disbursing salaries through mobile teams in certain places, usually housing jobs in fixed days.
"We have signed several agreements with companies, including thousands of workers," the chief executive of United Arab Emirates Wall Street Exchange Abdul Basit Al Suwaidi said in a statement here Tuesday.
A large number of 1.4 million U.S. immigrant in this country to work as Gulf labor contracts in the construction sector booming. Their remittances contribute more to the Indian economy.
"Experience one of the distribution salaries through our mobile teams was completed in February with a success rate of 99.9 percent. Reply by companies and workers has been great," said Al Suwaidi.
Workers can immediately remit money to their families back at home with the help of teams of Wall Street Exchange to carry laptops and GPRS.
Worker or may transfer money to a beneficiary bank account or send money within minutes of using other available channels to transfer money.
"More than 2,000 of our employees receive their pay through mobile teams of Wall Street, and we are very pleased with the agreement," said Juma Mubarak, general manager of construction management.
"The salary of the first to pay our workers from Wall Street mobile team went very well," Dervis said Ayman Abdul Saleh, an accountant at Obaidullah Construction.
Firms signing agreements with Emirates Post for enabling payment of wages to workers enjoy several benefits and advantages, including convenient locations, extended timings, timely payment and, more importantly, the structure of transferring money without going through problems visit a foreign exchange company, the company statement said.
Wall Street team mobile service is available for companies with 500 or more workers.
UAE Government took the initiative of paying wages to workers through banks for payment in full time salaries.
