Abu dhabi: The Ministry of Human Resources and Emiratisation (MOHRE) and e and money, the fintech arm of e and, have entered into a strategic partnership to enhance wage protection services for domestic workers through the e and money platform. This collaboration aims to align with existing legislation and regulatory frameworks to facilitate salary management for domestic workers.
According to Emirates News Agency, this partnership leverages MOHRE's advanced technology to simplify salary transfers, minimize cash dependency, and support the UAE government's initiative to foster a cashless economy. This advancement is intended to benefit both domestic workers and their employers.
Dalal Alshehhi, Acting Assistant Undersecretary for Labour Protection at MOHRE, highlighted the ministry's dedication to safeguarding workers' rights through this partnership. The initiative, in its initial phase, expands the Wage Protection System (WPS) to include domestic workers, ensuring secure and timely salary payments. The simplified payment process is designed to facilitate employer compliance with regulations.
Melike Kara, CEO of e and money, emphasized the importance of financial solutions that enhance economic growth and financial well-being. The collaboration with MOHRE focuses on improving financial accessibility, empowering workers, supporting businesses, and fostering trust within the financial ecosystem. By integrating MOHRE's WPS model into e and money's platform, the partnership aims to democratize access to secure financial services, enhancing the quality of life for all stakeholders.
The partnership involves integrating MOHRE's WPS APIs into e and money's platforms, providing a compliant and secure method for salary disbursement. Traditionally serving private sector employees, the WPS will now extend its reach to domestic workers, promoting financial inclusion.
APIs, or Application Programming Interfaces, enable secure communication between e and money's app and MOHRE's systems, ensuring efficiency and compliance. The app allows employers of domestic workers registered with MOHRE to access wage protection services, facilitating quick and hassle-free payments through streamlined processes.
Domestic workers will receive an IBAN, a digital wallet, and a Mastercard prepaid card, promoting financial inclusion among largely unbanked populations. As part of the initiative, e and money offers an introductory free card for up to two employees and guarantees competitive exchange rates for international transfers, meeting domestic workers' financial needs through a secure financial super app.
