Real-time payment solutions in the offing
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The real-time payment solutions in Oman is to give an entirely new dimension to automation of various clearing house services to the banks and their customers in the Sultanate.
The projects, which are under active consideration of the Central Bank of Oman, are equipped with handling sophisticated functionalities and processing needs of all the banks operating in the country.
A senior official of real-time payments solutions company ProgressSoft termed these projects as major steps for the Sultanate’s finance sector that have ability to do a paradigm shift in clearing house services and online banking besides many other services.
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UAE: New penalty for companies that don’t pay salaries on time
Ashwani Kumar/Abu Dhabi
Alamy
Employers who fail to do so have to pay more than double the insurance policy of employee.
Empowering the UAE labour force, the Ministry of Human Resources and Emiratisation (MoHRE) has introduced a new penalty for private sector companies that don’t pay salaries to its employees on time.
“MoHRE calls establishments to pay salaries through the Wages Protection System, in light of raising the insurance cost from Dh120 to Dh250 for violating establishments with 30 days insurance coverage,” the ministry tweeted on Monday.
Key Points
The Saudi government has created a new short-term work visa for
certain foreign nationals
Qualified employees may work in Saudi Arabia for a
visa-sponsoring entity up to 90 days per year
Multiple entries are permitted with the Temporary Work Visit
Visa
Employers must be classified as medium-green in the
Nitaqat scheme, comply with obligations in the Wages Protection
System, and ensure foreign workers have valid work
authorization
The visa quota is limited to 50 visas per employer
Visas are non-transferrable to other entities
Applicants may obtain a visa from a Saudi consular post or visa
agent abroad
Overview
What are the Changes?