Summary: WPS is an electronic salary transfer process that allows companies to pay their employees via
registered agents.
Immigration Department Foreign Workers Division director Datuk Khairul Khar Yahya said only
registered agents should liaise with the department on the recruitment of foreign workers.
He said such punitive actions are possible against
registered agents only.
As of 2016, the offshore financial sector includes five offshore banks, four offshore insurance companies, 16
registered agents, 39 mutual fund managers and administrators handling 92 mutual funds, and two casinos.
Global Banking News-September 19, 2016--Tanzanian government asks insurance firms to use
registered agentsIn any event, the key issue for both the principal entity that is supplying goods into the UAE and for the
registered agent is that, in our opinion, the
registered agent will continue to be recognised as the
registered agent for those products under UAE law and, in particular, will continue to benefit from the protections afforded to
registered agents under the Agency Law.
Department of Health and Human Services (HHS) probably ended the second open enrollment period with 77,600
registered agents.
The bill also includes agent licensing reform, with the National Association of
Registered Agents and Brokers (NARAB II) legislation that establishes a permanent NARAB.
The FIO report endorsed the need for Congress to enact the National Association of
Registered Agents and Brokers (NARAB II) legislation.
Under the system, employers have to choose one of the financial service providers (
registered agents) such as banks, money exchange centers or any other service providers registered and approved by the CBO for disbursement of salary.
He expects the number of
registered agents, currently standing at 121 nationwide, to increase by January.