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Dubai / Emirates Business
The UAE Ministry of Finance (MoF), in partnership with National Bank of Abu Dhabi (NBAD), is all set to launch new innovative e-Dirham products and services during GITEX Technology Week scheduled from October 16 to 20 at the Dubai World Trade Centre.
The launch of new e-Dirham products aims at enriching customer experience and increasing the efficiency of the system’s use in payment and revenue collection transactions by the public and private sectors.
The new and innovative services include online direct debit or credit for eD-Wallet balance from the user’s bank through eDirect, and payments by direct transfers from the customer’s bank account to the service provider’s bank account in both public and business sectors through eDebit. In addition, e-Dirham self-service kiosks enable purchase and recharge of e-Dirham cards, issue eD-Vouchers, allow payment of service fees for public services amongst many others.
HE Saeed Rashid Al Yateem, Assistant Undersecretary for Resources and Budget at the Ministry of Finance, said: “The UAE ranked 16th globally and first regionally in the Global Competitiveness Report issued by the World Economic Forum (Davos) in Switzerland. This indicates that government efforts are in the right direction to diversify the economy by encouraging innovation and improving the quality of infrastructure, leading to the development of business environment that promotes and attracts more foreign direct investments to the country.”
“We seek to continuously upgrade and modernise the e-Dirham system as it is one of our important mechanisms that help improve cash flow management as well as reduce wastage and enhance utilisation of materials, time and human resources. These are significant in order to achieve the goals of smart governance and to strengthen the UAE economy. Moreover, all these are aligned in developing the governmental capacities and mechanisms which play key roles in attaining the UAE Strategy for the Future,” Al Yateem added.
MoUs with partners and stakeholders of e-Dirham from both the public and private sectors will be signed during GITEX Technology Week. Al Yateem noted that the MoF will continue to upgrade and update the e-Dirham system through investment in technical infrastructure, and by strengthening its integration with other payment and financial systems in the UAE. This will be done in order to offer the best solutions and digital services as well as to keep abreast with the latest global developments in payment systems.
The GITEX Technology Week is a five-day event considered to be the largest regional IT exhibition which is expected to attract more than 100,000 visitors from 150 countries. The event will host 4,000 exhibiting government entities and private companies.
Saif Al Shehhi, Senior Managing Director – UAE Government and VVIP Clients at National Bank of Abu Dhabi, said: “The strategic partnership between MoF and NBAD for the e-Dirham system is a successful model of collaboration between the public and private sectors in the UAE. This is also exemplified in the participation of e-Dirham in GITEX Technology Week and the keenness to be in the forefront of developing the latest smart payment services and solutions through various technological platforms ”
“The GITEX Technology Week provides an ideal opportunity to acquire knowledge on the latest developments in modern business environment that witnesses increasing digitisation and use of smart technologies. We seek to harness this opportunity and showcase the achievements of e-Dirham, its smart payment solutions as well as its new and innovative services designed to enrich customer experience,” Al Shehhi concluded.
This year’s edition of GITEX Technology Week will see the participation of more than 400 entrepreneurs, 250 investors and mentors from over 52 countries around the world as it hosts the most global startup movement. In addition to showcasing the latest technology and innovative products, the event will feature conferences, startups business model shows, presentations, panel discussions and seminars, which all aimed at exchanging experiences and
expertise amongst the attendees.