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Saudi Arabia launches an all-new flexible salary initiative

Employees can now access part of their wages before payday

Employees will be happy to know that the Mudad Platform signed a cooperation agreement with Khazna Financial Technology Company to launch the Flexible Salary product. This is everything we know about the Saudi Arabian flexible salary initiative.

The new system allows employees to access a portion of their earned wages for days worked before the official payroll disbursement date, per the Saudi Press Agency.

The new Saudi Arabian flexible salary initiative aims to provide greater financial flexibility and strengthen the relationship between organisations and their employees. This will then help employees during times of financial need and reduce dependence on short-term loans or credit.

This new product marks a qualitative advancement in the development of payroll management services, assisting employees in receiving part of their earnings at any time, whenever they need it. The new rules are expected to have a positive impact on job performance and overall employee satisfaction.

The agreement supports continued efforts to encourage digital transformation in human resource management, according to representatives from both parties. In keeping with the goals of Saudi Vision 2030, it also fosters cooperation to provide creative solutions that safeguard employees’ rights and enrich the working environment.

The agreement shows a common vision for digital transformation in payroll and human resources management throughout the Kingdom, both Khazna and Mudad highlighted.

Visit: spa.gov.sa

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