WAM Dubai, 23ed April 2012 (WAM): Emirates Post and Wall Street Exchange Centre have signed an agreement under which companies can register for UAE Ministry of Labour's Wages Protection System (WPS) through selected post offices across the country.

The agreement was signed by Abdullah Mohammed Alashram, CEO of Emirates Post, and Sultan Bin Kharsham, Managing Director, Wall Street Exchange.

Under the agreement, companies can register at any of the 37 selected post offices and obtain Wall Street WPS services that will enable employees to collect their salaries. The employees will get three channels to collect their salaries: through branches of Wall Street Exchange Centre, through ATM machines or directly at company labour camps if the workforce exceeds 1,000 workers.

"As one of the oldest money exchange companies in the country and now fully owned by Emirates Post, Wall Street Exchange is geared to provide high-level service for WPS subscribers through advanced technology and vast network," said Sultan bin Kharsham. "We have gone through a meticulous planning stage before launching this service. The partnership with Emirates Post adds value and convenience to our offering, and we are sure companies and workers will enjoy peace of mind through our services." Abdullah Al Ashram commented, "Emirates Post has been adding new services on a regular basis as part of our vision to be a one-stop shop for community services. This agreement with Wall Street Exchange takes us closer to this goal and we assure companies registered with the WPS service through Emirates Post offices will get quality service through our trained staff. We are delighted to partner with Wall Street to support the Ministry of Labour's commendable move to ensure that UAE workers get their salaries on time and in full." Approved by the Ministry of Labor, Wall Street offers its state-of-the art "Salary Payout services" where salaries are paid through Branches, Sites and through more than 500 Visa enabled ATMs across the UAE. Wall Street is a pioneer in offering WPS services in the UAE and helps companies to reduce risks of handling physical cash, ensure smooth '&' hassle free salary payment procedures and much more. Wall Street's card-based programme incorporates into the banking system a segment of the population that would otherwise not have access to any banking services with no minimum balance or annual fees.

WAM/TF