By IANS
Dubai : Workers in the construction sector in the UAE can now receive their salaries at their doorstep, thanks to Wall Street Exchange, the financial services arm of Emirates Post Group.
Wall Street Exchange has started disbursing salaries through mobile teams at designated venues, usually labour accommodation sites, on fixed days.
“We have signed agreements with several companies, involving thousands of workers,” UAE chief executive of Wall Street Exchange Abdul Basit Al Suwaidi said in a statement here Tuesday.
A large number of the 1.4 million expatriate Indians in this Gulf nation work as contract labour in the booming construction sector. Their remittances contribute a great deal to the Indian economy.
“The first experience of distributing salaries through our mobile teams was completed in February with a success rate of 99.9 percent. The response from the companies and the workers has been overwhelming,” Al Suwaidi said.
Workers can also immediately remit the money to their families back home with the help of the Wall Street Exchange teams who carry laptops and GPRS.
The worker can either transfer money to a beneficiary bank account or send cash within minutes using other available money transfer channels.
“More than 2,000 of our workers received their salary through the mobile teams of Wall Street, and we are very pleased with the arrangements,” said Juma Mubarak, administration manager of General Construction.
“The first salary disbursal to our workers by the Wall Street mobile team went on very smoothly,” said Ayman Abdul Ghani Saleh, an accountant at Obaidullah Construction.
Firms signing agreements with Emirates Post for enabling the salary payout of workers enjoy several benefits and advantages, including convenient locations, extended timings, timely payment and, most importantly, the facility of transferring money without going through the trouble of visiting an exchange company, a company statement said.
The Wall Street mobile team service is available to companies with 500 or more workers.
The UAE government had taken the initiative of paying workers’ wages through banks for timely and full disbursal of salaries.