stc pay, one of Bahrain’s most innovative and accessible mobile wallet, announced a strategic partnership with the Labour Market Regulatory Authority (LMRA) to enhance the onboarding experience for new expatriates arriving in the Kingdom.
As part of this initiative, new expat employees arriving at Bahrain International Airport will be provided with an International Bank Account Number (IBAN) number, linked to stc pay mobile wallet. This innovative solution is set to facilitate wage payments and streamline the onboarding journey, making it easier for expatriates to settle in their new resident country.
The Kingdom of Bahrain takes pride in its distinction in several aspects that ensure safe working conditions for labour, most notably: easy access to services, the high level of security and stability in the Kingdom, as well as advanced digital readiness and the availability of electronic government services.
stc pay is the strategic partner, offering an all-in-one financial solution for various transactions. With a comprehensive range of features and value-added benefits that go beyond traditional payment methods, the mobile wallet makes everyday digital payments simpler, faster, and more rewarding. stc pay also offers a payroll processing solution compliant with Wages Protection System simplifying salary payments for businesses.
H.E. Nibras Talib, CEO of LMRA and Chairman of the National Committee for Combating Trafficking in Persons (NCCTIP), emphasized the Authority's commitment to continuing its partnership with the private sector to enhance mechanisms that contribute to improving the work environment and safeguarding the rights of all parties involved. He noted that the collaboration with stc pay, the digital wallet of stc Bahrain, to issue an optional IBAN for every expatriate worker in the Kingdom, will help provide accessible banking solutions for paying workers' wages and documenting procedures, thereby protecting the rights of all parties.
"At stc pay, we are committed to leveraging our technology together with our banking partner Khaleeji Bank, to provide innovative solutions that simplify the lives of the local community and our customers. This partnership with LMRA is a testament to our dedication to enhancing the expatriate experience and supporting the country’s digital transformation," said Eng. Khalid Al Osaimi, Chairman of stc pay and CEO of stc Bahrain.
Through this partnership, stc pay will support LMRA in settling new expatriates, making the country a top-rated place to work. This initiative will enhance Bahrain's digital infrastructure, facilitate seamless transactions, foster entrepreneurship, and support businesses.