Raqmiyat launches a unique solution for the Wages Protection System in the UAE

The new software provides an interface for banks and exchange houses to connect to the Central Bank's WPS system based on stipulated file formats, which will facilitate automation across all WPS cycles and help streamline the timely payment of wages to over 4 million blue collared employees in the UAE.

The WPS system is designed to enable the Ministry of Labour to monitor payment of wages and create a complete database of the labour workforce.

Aside from fully automating the WPS cycles, reducing manual intervention, mitigating the risk of errors and enhancing overall productivity, 'Raqmiyat - WPS Connect' software also comes with unique features such as automatic file transfer utility, auto database update utility and pre-processor utility. The software is offered in two modules, 'bank module' wherein the bank acts as a bank of employer and the 'agent module' wherein the bank or exchange house acts as a disbursement agent.

"Our track record in providing cutting-edge technologies to the banking industry in the UAE speaks for our capacity to implement strategic solutions, leverage our position as the leading systems integrator in the banking and finance sector to help banks and exchange houses achieve desired results,"

said Sairus Bapooji, Assistant Vice President for Banking and Finance, Raqmiyat.

In addition to facilitating an extensive audit trial for all transactions and processing files in the format mandated by the Central Bank, 'Raqmiyat - WPS Connect' is a highly user-friendly application with a browser-based front end that generates all required reports. Other key features include automatic upload and download of all files in various formats, automatic processing of acknowledgments received from Central Bank and conversion of salary files sent from the employer to the bank.

"Our extensive partnerships with banks in the UAE have equipped us to deal with their specific needs. This, in addition to our state-of-the-art software development centre in Chennai, India and partnerships with leading international IT companies, make us the ideal partner for banks and exchange houses seeking for a solution to interface with the WPS system at the Central Bank," concluded Bapooji.