Ras Al Khaimah Economic Zone (RAKEZ) signed a Memorandum of Understanding (MoU) with Edenred UAE, a global leader in payment solutions, to enhance financial accessibility for workers in the industrial sector. This collaboration introduces the innovative C3Pay payroll card, designed to provide labourers and blue-collar workers with solutions to manage their money.
RAKEZ Chief Experience Officer Ian Hunt and Edenred Chief Executive Officer Wael Fakharany during the MoU signing
The MoU, signed by RAKEZ Chief Experience Officer Ian Hunt and Edenred UAE Chief Executive Officer Wael Fakharany, at Compass Coworking Centre in Ras Al Khaimah, facilitates a referral agreement wherein RAKEZ will promote Edenred UAE’s C3Pay services to its registered industrial companies. Designed specifically for blue-collar workers, the C3Pay payroll card and app offers a simplified salary payment solution. Workers can receive their wages on a card, which they can use across ATMs, retail outlets and online, irrespective of whether or not they have a bank account. The service is designed to integrate seamlessly into existing payroll systems, offering businesses an easy transition and a streamlined way to manage employee salaries efficiently.
RAKEZ Group CEO Ramy Jallad said, “By introducing the C3Pay payroll cards in collaboration with Edenred UAE, we are advancing our commitment to the welfare and satisfaction of labourers within our industrial sectors. This initiative is aligned with our ongoing efforts to provide secure, convenient, and accessible financial services to employees who might otherwise face challenges in managing their earnings.”
Edenred UAE Chief Executive Officer Wael Fakharany, commented, “Through this MoU with RAKEZ we have the opportunity to share our expertise and facilitate financial inclusivity for labourers in Ras Al Khaimah. The C3Pay cards are tailored to streamline salary payments and provide all employees with a dependable financial tool for their daily transactions, thereby empowering them with more control over their financial resources.”
This strategic partnership with Edenred UAE is part of RAKEZ’s continuous efforts to provide value-adding services to businesses, catering to the diverse needs of its clientele and enhancing operational efficiency and employee satisfaction across various industrial sectors.
About Ras Al Khaimah Economic Zone (RAKEZ)
RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 25,000 companies coming from over 100+ countries and operating in more than 50 industries.
RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers.
A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
About Edenred UAE
Edenred UAE is the UAEs largest salary processing provider helping over 7000 companies pay their hardworking people on time and improving the lives of over 2.2 million employees. We simplify payroll and help people manage their money. Operating out of Dubai since 2008, we were the first WPS agent authorized by the Central Bank and Ministry of Labour, simplifying WPS and non-WPS payroll for companies, banks and financial institutions across the country.
We believe everyone should have equal access to essential financial services, regardless of how much they earn.