Saudi Arabia to launch new salary management service by 2020: official

Saudi Arabia will join hands with Riyadh-based Madad to roll out a new salary management service by the end of 2020, the Saudi Press Agency reported.

The service mainly targets small and medium enterprises (SMEs) and aims to attract employees to highly-organized businesses, Abdulrahman Al-Hasini, technical support manager at the General Organization for Social Insurance (GOSI) said.

He added that payroll cards will be issued for Saudi and foreign employees, who are not required to open personal current accounts with banks. 

Al-Hasini also stated that the service is non-obligatory and will be offered at a very low cost, noting that data of all facilities and employees will be accurately registered at GOSI.

He further explained that it will also help human resources departments manage salaries, register wages and easily submit relevant data to the Ministry of Labor and Social Development and GOSI.