UAE workers stuck waiting for delayed paychecks
Salaries across the UAE have been delayed this month, worrying employees a great deal.
It appears that the delay in salary payments and transfers has been attributed to the lack of the 23-digit International Bank Account Number (IBAN).
The UAE Central Bank said it was the responsibility of employers in private and public sectors to supply banks with the IBAN of their employees or face non-payment of salaries. Readers would note that IBAN is mandatory for identifying all bank accounts in the UAE.
"Companies send lists with employees' salaries and IBAN numbers. Some of the employees still had not received their IBANs which delayed the processing of their salaries at the banks," the Central Bank announced.
"The Central Bank had many times issued statements telling clients to get their IBANs as this will be mandatory for all their incoming payments as of April 14, 2012," the bank added.
- Gulfnet collaborates on global cybersecurity platform
- Middle East poised to become an industry leader in 3D printing
- UAE Space Agency, Lockheed Martin ‘blast off’ with professional training program
- Show me the money: Lebanon addresses bank transfer delay problems
- Kuwait to receive French helicopters in $1.1B deal