Barclays Bank will offer a complete administration and cash management service to companies introducing save-as-you-earn (SAYE) schemes for staff in Ireland and abroad.

The firm said it had a wealth of experience in managing such schemes, in Britain and overseas, for a variety of companies. It has also run a SAYE scheme for its employees for 20 years.

SAYE schemes were authorised in the 1999 Finance Act to encourage employee-share ownership. Under such schemes, employees receive options to buy shares in their employers' business at the price prevailing at the time the option is granted or, in certain circumstances, at a discount to that price.