The Wages Protection System (WPS), introduced by the Department of Labour and the Central Bank of United Arab Emirates (UAE) in May 2009, processed salary payments for 60% of all workers in February 2011. This is a significant increase from a figure of 1.2% in October 2009.
Speaking on a panel session at the Money Transfer Dubai conference, organised by the International Association of Money Transfer Networks (IAMTN), two of the foremost members of the exchange house community in UAE, Mohamed Al Ansari and Osama Hamza Al Rahma, described in more detail the specific opportunities and initiatives that the exchange houses have undertaken to capitalise on the initiative.
This was one a number of highly informative and interactive sessions at this regular event for the money transfer industry in the Gulf and Asia regions. Key topics concerning regulation, new technology (including mobile and online payments), anti-money laundering and innovation were also covered. The audience heard from a range of speakers including representatives from the Central Bank of the UAE, the Central Bank of Russia, World Bank, and US Department for Homeland Security, as well as from a broad range of industry experts.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more