January 26, 2021

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Dubai Division of Finance partners with UAE Central Financial institution to aid payment payments

The Dubai Division of Finance (DoF) and Central Financial institution of the UAE (CBUAE) have signed a Memorandum of Understanding (MoU) aimed at facilitating the payment of expenses owed by shoppers of Dubai government entities.

Federal government entities in Dubai and their consumers will now be equipped to obtain CBUAE’s immediate debit company to facilitate consumer payments by means of the unique banks in the UAE. The assistance aims to boost the DoF’s relationship with the two functions while making sure improved efficiency during the selection procedure, CBUAE claimed in a assertion. 

The MoU stipulates the enhancement of a specific motion approach by means of the identification of widespread troubles and correct remedies in line with the public’s best desire. It also entails the establishment of essential methods that assure a steady technological connectivity among the two events.

Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE, stated: “This arrangement reinforces the UAE’s ambitious journey toward digital transformation. It is a testament to CBUAE’s continual efforts to proficiently contribute to the achievement of this transformation as we goal to help institutions and assure their solutions are of the best common, agility and effectiveness.”

Commenting on this celebration Saleh Al Saleh, Director Typical of Dubai Division of Finance: “This MoU will offer buyers with obtain to a streamlined payment procedure. This achievement is component of our keenness to raise the joy of prospects by strengthening the excellent of the companies offered and by presenting protected, quick and powerful payment channels.”

(Crafting by Seban Scaria enhancing by Daniel Luiz)

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