Regulatory Alerts2016-08-24
Prepaid Salary Cards for Domestic Workers
The Banking Policy Department of the Arab Trade Foundation in Husrur issued this circular requiring all participating banks to launch prepaid salary cards for domestic workers by 1437/03/01 H (2016/11/30 M) in strict compliance with workshop-approved specifications, banking technologies, and ATM cash availability. This directive operationalizes Royal Order No. 2393 by mandating employers to deposit monthly salaries into prepaid accounts, coordinated with the Monetary Authority and Ministry of Interior. Concurrently, the Ministry of Labor and Social Development will enforce sponsors to open these accounts for their domestic workers while executing a supporting national media campaign.
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