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UAE: A statement from the Central Bank regarding employment and salaries
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The Central Bank confirmed the wage protection system as an innovative mechanism whereby establishments pay the wages of their workers through banks, exchange companies and financial institutions that provide the service.

The Central Bank confirmed that its wage protection system shows that the employment movement and the salary rate are stable, during the second quarter of this year, but they came higher than their levels during February 2020, which preceded the spread of the Corona virus “Covid-19” pandemic.

In its latest report, the Central Bank clarified that this includes employees of the Ministry of Human Resources and Emiratisation, the Jebel Ali Free Zone Authority, and some employees of licensed financial institutions.

The “Wages Protection System” is an innovative mechanism whereby establishments pay the wages of their workers through banks, exchange companies and financial institutions that provide the service. In its report, the “Central” also stated that the Purchasing Managers’ Index in the UAE rose by 11.3% on an annual basis in the second quarter, as it achieved an increase and entered a wider range, and this improvement reflects the high morale boosted by the vaccine program and Expo 2020 Dubai.