Bahrain’s Labour Market Regulatory Authority (LMRA) has started issuing an International Bank Account Number (IBAN) to each expatriate employee entering Bahrain, in coordination with Central Bank of Bahrain and private sector.
The aim of this initiative is to facilitate transactions to each employee as well as to raise awareness among expatriate workers about the significance of using bank accounts for contractual transactions that guarantee the rights of all parties.
Nibras Tabil, CEO of the Labour Mraket Regulatory Authority and Chairman of the National Committee to Combat Trafficking in Persons highlighted that the issuance of IBAN to expatriate is a part of LMRA’s commitment to enhancing digital banking transactions, safeguarding all parties by facilitating wage transfer through banking channels.
The CEO stated the partnership with private sector will issue IBAN to each expatriate entering Bahrain through Bahrain International Airport. CEO also stressed that the goal of this initiative is to offer additional means to help employers in paying their wages electronically, guaranteeing the documentation of payment record, reducing legal disputes over wage payment and most importantly, simplifying and speeding up the litigation process.
This initiative highlights the nation’s move against illegal practices in the labor market, particularly related to human trafficking. In a recent meeting of National Committee, various topics revolving around human trafficking were discussed as well as the measures to tackle and enhance the working environment of the nation.
Nibras Tabil also stated that the expatriate employees entering Bahrain will be provided with step-by-step explanation on how to activate the bank account linked to the issued IBAN.
