Al Baraka Islamic Bank Joins Wage Protection System for Corporate and Institutional Clients

Al Baraka Islamic Bank B.S.C (c) announced joining the Wage Protection System (WPS), enabling its corporate and institutional clients to manage employee salary payments efficiently and conveniently, in line with the approved regulatory requirements in the Kingdom of Bahrain.

This step comes as part of the Bank’s commitment to developing its corporate banking solutions and providing practical digital services that meet clients’ needs and support the efficiency of their operational processes. The service also helps facilitate salary payments through secure and organised channels, contributing to enhanced transparency and compliance, while supporting the smooth management of payroll-related procedures

The WPS offers Al Baraka Islamic Bank’s corporate clients a more efficient experience in managing salary payments through banking solutions designed to simplify procedures and reduce time and effort, while maintaining high levels of security and reliability. It also reflects the Bank’s ongoing commitment to providing advanced banking solutions that support the growth of clients’ businesses and help them meet their operational and regulatory obligations.

Commenting on the occasion, Mr Husain Yusuf Ateyah, Acting Chief Executive Officer and Chief Corporate & Institutional Banking Officer at Al Baraka Islamic Bank, said: “We are pleased to announce joining the Wage Protection System for our corporate and institutional clients, in a step that reflects our commitment to providing practical and reliable banking solutions that support the needs of the business sector in the Kingdom of Bahrain. This service forms part of our ongoing efforts to enhance the customer experience and facilitate our clients’ day-to-day transactions by providing more efficient and flexible channels for managing salary payments.”

He added: “At Al Baraka Islamic Bank, we continue to focus on developing our corporate banking services in line with the digital transformation of the banking sector, while strengthening our clients’ ability to manage their operations more efficiently. We also reaffirm our commitment to continuing to provide Shari’a-compliant financial solutions built on quality, innovation and reliability, supporting the long-term growth of our clients’ businesses.”

Al Baraka Islamic Bank affirmed that joining the WPS comes within its strategic direction to expand the scope of its corporate and institutional banking services and enhance the Bank’s readiness to meet changing market requirements through integrated solutions that combine compliance, efficiency and ease of use.

It is worth noting that Al Baraka Islamic Bank is among the leading Islamic banks in the Kingdom of Bahrain. Since its establishment in 1984, the Bank has achieved outstanding results in providing banking services to both individuals and corporates. It has a strong track record of innovation and delivering Shari’a-compliant investment and financing solutions. The Bank also continues to play a pioneering role in supporting social responsibility and sustainability initiatives, maintaining a prominent position among Islamic banking institutions serving customers worldwide.

For more information and to learn about other banking offerings, please visit Al Baraka Islamic Bank's website at www.albaraka.bh, check out the bank's verified Instagram page, or call 13300400.