Dubai Trade News

MoF collaborates with Dubai Trade to enhance e-Dirham system
Published on Thursday, 23 October 2014 02:21

The agreement was signed during GITEX TECHNOLOGY WEEK 2014 by H.E. Saeed Rashid Alyateem – Assistant Under Secretary on behalf of MoF,  Mr. Ahmed Al Naqbi – Managing Director of New Banking & Business Innovation at the NBAD, and Eng. Mahmood Al Bastaki – CEO of Dubai Trade.

"The agreement stated that Dubai Trade is to join the e-Dirham system, enabling it to collect service fees provided to the public, develop payment methods and discontinue manual payment and cash collection processes." The MoF said in a statement.

NBAD's role is to offer Dubai Trade safe e-payment channels, such as the eDirham Al Haslah cards and convenient eDirham card top-up points.

Commenting on the signing of the agreement,H.E. Younis Haji Al Khouri, Undersecretary of MoF said: "The signing of this agreement took place at GITEX 2014 to demonstrate the importance of the e-Dirham system for various governmental, federal, and local entities as it is considered to be a new mechanism and safer mean for the completion of collection processes. We are proud to receive such a huge number of activated cards within the system in the UAE, this contributes to a rational use of the financial resource and the promotion of a sustainable and balanced development in the UAE, and the ability to implement government revenue collection operations successfully and according to the highest technical specifications."

Eng. Mahmood Al Bastaki, CEO of Dubai Trade, highlighted that Dubai Trade has been a premier supporter of e-Dirham since 2007 and welcomes the Ministry of Finance’s initiative of upgrading to the second generation (G2) of e-Dirham. He also added: “Today by signing the MoU, the Trade and Logistics community will avail a better and safer payment method on Rosoom, Dubai Trade’s e-Payment gateway. We appreciate MoF efforts which has resulted into adding e-Dirham G2, as another mode of payment on Dubai Trade Portal to ensure timely transactions and encourage the use of virtual money and e-transfers”.