Kuwait’s Central Bank (CBK) has launched a new Wage Payment System to monitor salary payments to Kuwaiti and foreign workers in the private sector.
The system provides a centralized platform for processing and monitoring salary transfers through local banks.
It aims to make wage payments more secure, reliable, efficient, and transparent by allowing authorities to track transactions in real time.
The system will also help authorities verify whether employees are receiving the salaries stated in their employment contracts.
The new system applies to all private sector employers, regardless of company size or number of employees.
Employers have been advised to coordinate with their payroll banks to confirm the new requirements and ensure their salary and employment records are accurate.
They should also stay updated on implementation procedures, reporting requirements, and enforcement measures issued by the Central Bank of Kuwait, the Public Authority for Manpower, and their respective banks.
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