Doha Bank corporate clients during a workshop on the Wage Protection System.
Doha Bank has recently launched a series of digital workshops on the Wage Protection System (WPS) for its corporate customers with the aim of helping them meet the new requirements under WPS.
The WPS, initiated by the Ministry of Labour and Social Affairs and Qatar Central Bank to monitor and document the process of worker payments, was launched with the objective of promoting transparency, security, and stability by establishing a safe work environment and saving workers and employers from keeping cash in their workplaces to avoid loss or theft.
The move to introduce WPS was seen as an expression of the Qatar government’s strong commitment to labour reforms and forms part of its wider efforts to improve the living and working conditions of migrant workers and ensure they receive their pay on time.
Doha Bank Group CEO Dr R Seetharaman said: “The Wage Protection System is a landmark initiative that will bring far-reaching benefits to workers in Qatar by introducing greater transparency and ensuring wages are electronically transferred direct to workers’ bank accounts.
“We congratulate the Ministry of Labour and Social Affairs for its ongoing commitment to labour reforms, and we look forward to extending all possible support to ensure the success of this programme.”
The first WPS workshop was held on August 31 and was attended by more than 100 corporate customers followed by a series of customer training sessions and workshops.
The workshop featured a live demo of the online processing of salaries under the WPS system and a demo booth that provided clients with hands-on experience of Doha Bank’s innovative “Tadbeer” cash management system, which has been transforming the way businesses in Qatar control and manage their finance.
A highly-flexible system tailored to give customers maximum control over their business, “Tadbeer” was designed to address a full range of collections, payment, liquidity management, and reporting services, providing customers a single online interface capable of managing all aspects of their cash management requirements, including payables, receivables, and liquidity information. “Our electronic banking system is designed to ensure a full and precise overview of accounts at all times. By providing customers direct, real-time access to their bank accounts and by centralising their receivables and payables on one electronic banking system, ‘Tadbeer’ empowers organisations across the business spectrum with unparalleled control of their cash management operations, allowing them to manage their cash flow faster and more efficiently,” said Seetharaman.
He said the unique service continues Doha Bank’s tradition of innovation and represents a significant milestone in its push towards paperless banking.
Seetharaman said: “Effective management of cash flow is important for any new or growing business, and is often critical to business survival. As a customised online platform with an advanced web-based interface, ‘Tadbeer’ provides clients access to a variety of cash management services, enabling them to improve operational efficiency and reduce operating cost through secure, convenient, and paperless transactions.”
He added that “Tadbeer” also facilitates better accounting with focus on liquidity optimisation, and allows full overview of customer accounts at all times.
