The Labour Market Regulatory Authority (LMRA), in co-ordination with the Central Bank of Bahrain and in collaboration with the private sector, announced that it has begun facilitating the issuance of an International Bank Account Number (IBAN) for every incoming expatriate employee in Bahrain.
This step aims to facilitate transactions for employers and raise awareness among expatriate workers about the importance of using bank accounts for contractual transactions to ensure the rights of all parties.
Labour Market Regulatory Authority chief executive and National Committee to Combat Trafficking in Persons chairman Nibras Talib said this initiative is part of the authority’s commitment to raising awareness about the importance of electronic banking transactions to ensure the rights of all parties, especially with regards to facilitating the transfer of wages through banking channels.
