In line with the UAE’s vision to become a frontrunner in providing smart services, the Ministry of Finance (MoF) and First Abu Dhabi Bank (FAB) will showcase e-Dirham’s latest developments and technologies in electronic payment systems during the GITEX Technology Week 2017 which will be held from October 8 to 12 at the Dubai World Trade Centre. This is aimed at enhancing customer experience, alongwith increasing the efficiency and effectiveness of e-Dirham in electronic payment and collection of both public and private sectors.
His Excellency Saeed Rashid Al Yateem, Assistant Undersecretary for Resources and Budget at the Ministry of Finance, said: “We seek to continuously upgrade and modernise the e-Dirham system since it is an important mechanism to improve cash flow management, reducing wastages and enhancing utilisation of materials, time and human resources. The new ‘Auto-reconciliation’ system will facilitate higher efficiencies in digital accountancy processes, which will further lead to streamlining the financial and accounting processes and improving accuracy. This is a significant measure that will contribute to the nation’s goals of smart governance and strengthening the UAE’s economy.”
“The MoF is committed to implementing the highest standards of security for payment solutions. Reflecting our achievements in this area is the Conformity Certificate of Payment Card Industry Data Security Standard (PCI DSS) granted to e-Dirham for the second consecutive year. It will further strengthen the trust of clients regarding security within the different channels of e-Dirham system,” Al Yateem added.
The services to be showcased during GITEX will include direct remittance, ‘eDebit’, which enables end-users to directly charge their bank accounts to top-up their e-Dirham cards from anywhere during any time of the day via e-Dirham website; a comprehensive payment system for prepaid and credit cards; direct debit service, ‘eDirect’, which allows recharging the balance of e-Dirham cards and digital wallets from the bank accounts of users, in addition to e-Dirham applications for smart phones; and digital wallet amongst others.
To enhance customer awareness, e-Dirham will also hold a series of interactive talks by experts from financial and banking sector focused on highly relevant topics including latest trends in electronic payments, Blockchain, and Digital Transformation impacting the financial and business world.
Al Yateem revealed that the GITEX Technology Week will also witness additional agreements by government institutions to implement the e-Dirham system in collecting fee of services offered by them.
“The MoF is continuously working to enhance e-Dirham’s system, aligning with the latest international standards. This is done through investing in latest smart technology infrastructure and strengthening the connectivity of e-Dirham to other modes of electronic payments, which are being used throughout the UAE and offer the best digital solutions and services. In turn, this is expected to achieve the goals of the national strategy towards driving the evolution of a knowledge-based and digital economy,” Al Yateem explained.
Hana Al Rostamani, Head of Personal Banking Group, First Abu Dhabi Bank, said: “The strategic partnership between MoF and FAB towards adopting 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 Rostamani concluded.