Regulatory Alerts2022-05-10
Challenges of the Payroll Management System on the Mudad Platform
The Saudi Central Bank, responding to a Ministry of Human Resources and Social Development letter, addresses technical failures and contractual delays in the Mudad Payroll Management System that hinder wage payments to workers. It mandates strict adherence to Service Level Agreement clauses between financial institutions and the Mudad platform to resolve technical disruptions. The directive ensures enterprises consistently meet their wage payment obligations upon maturity, thereby safeguarding worker entitlements and maintaining system reliability.
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