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FINANCIAL NEWS
New Saudi wage protection policy
25 Jul 2013
(MENAFN) The Saudi Labor Ministry declared that as of September first, Saudi firms employing over 3,000 employees will have to abide by a new wage protection policy.
Schools must implement the new policy regardless of the number of employees it has, stated a senior officer.
Companies and schools must submit to the ministry a full account of details regarding wages paid through banks to be compared with data they already have.
“The program aims at ensuring that all Saudi and expat workers at private firms received their salaries as per their contracts,� Deputy Labor Minister Abdullah Abuthnain said.
�The move aims to streamline the Kingdom�s labor market, removing discrepancies and creating a secure and stable atmosphere for workers,� he added.
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