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Employee and worker salaries hit AED170.6bn in 2014

Number indicates 16 per cent growth compared with 2013

Total salaries for workers and employees in UAE last year reached AED170.660 billion, with a 16 per cent growth compared with 2013, where salaries were AED146.900bn, UAE-based Emarat Al Youm Newspaper reports.

Data issued by the Central Bank of UAE shows that these salaries were transferred via the Wage Protection System (WPS), which first began on October 1, 2009, with the participation of 108 financial institutes, including 52 banks, four financial companies, 47 exchange companies, in addition to five service suppliers.

The UAE Central Bank points out that the total number of workers and employees who received these salaries reached 3.79 million by the end of last year, with an increase of 280,000 employees and workers from the year 2013, which registered 3.51m workers.

The Central Bank confirms that the WPS guaranteed during the past years a safe and effective way to pay salaries to workers and employees in due time.