Financial Terms Starting With W

The UAE salary-payment system used to support timely electronic wage payments for covered private-sector employees through approved channels. Businesses commonly interact with WPS through banks, exchange houses or payroll providers.

Also known as

WPS

A period after coverage starts during which specified benefits are not yet available. Waiting periods are common for certain health, maternity, job-loss or protection benefits.

The voluntary giving up of a right, fee or requirement where permitted. A waiver should be explicit and documented; it should not be assumed merely because a provider has not enforced a term previously.

A Shari'ah-compliant agency arrangement in which one party appoints another to perform defined activities for an agreed fee. Wakala structures are widely used in Islamic deposits, investment and takaful operations.

A reward offered to eligible new cardholders after meeting stated activation, spending or other conditions. The value should be assessed after considering minimum spend, annual fee, exclusions and reward expiry.

A limited introductory benefit for eligible new customers, such as bonus points, cashback or a first-year fee waiver. Terms can include spending thresholds, deadlines and excluded transactions.

An electronic transfer of funds between financial institutions, often used for domestic or international high-value payments. Fees, exchange rates and intermediary deductions can apply.

Funds used by a business for day-to-day operating needs such as inventory, payroll and supplier payments. Working-capital finance can include overdrafts, revolving facilities, short-term loans or trade-related products.

An accounting action where a lender removes a debt from its active receivables because recovery is considered unlikely. A write-off does not necessarily mean the borrower is legally released from the obligation.

A documented indication that a customer agrees to a specified product, service, data use or contractual action. CBUAE consumer-protection standards require expressed consent for new or optional financial products rather than treating silence as acceptance.