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DUBAI / WAM
The Ministry of Finance (MoF) reviewed the future strategic development plan for the transformation of e-Dirham system, during its meeting with senior local and federal government officials.
During the meeting, the development stages of e-Dirham system, since its launch in 2001, were reviewed, while strategic plan was evaluated to ensure the sustainability of the system and its scheduled implementation in 2020. With the system, the ministry aims to provide the best technological solutions and applications to its customers.
The future strategic plan for the e-Dirham system includes the development of digital payment mechanisms in the country, which will be supported by all national and operating banks in the UAE. This is in line with the national agenda’s objectives for the digital economy, and their business models and competitiveness.
By launching the strategic plan for future transformation, the ministry is seeking to establish a national identity brand to develop national payments and strengthen the UAE’s position as a world leader in payments. The new payment system will contri-bute towards protecting cou-ntry’s financial system and ensuring sustainability of financial flows for fee and ser-vice revenues of federal gove- rnment, efficiently and effectively, consequently enhancing user experiences and ensuring customer satisfaction.
Younis Haji Al Khoori, Under-Secretary at MoF, reiterated ministry’s commitment to develop, consolidate regulations in the UAE, as well as collect revenues at federal, local levels through optimal methods and digital solutions, in keeping with UAE Vision 2021. He also stressed ministry’s goal to improve effectiveness of the financial systems for national payments, in line with other government services.