MoF and the National Bank of Abu Dhabi to launch Second Generation of E-Dirham at GITEX 2011

Press release

Published October 4th, 2011 - 09:45 GMT

Al Bawaba

The Ministry of Finance (MoF) and the National Bank of Abu Dhabi (NBAD) will be launching the second generation of E-dirham (G2 E-Dirham) during their participation in the Gitex Technology Week 2011. Both entities will be sharing a stand at the event (S2-105- the Sheikh Saeed Halls) which will take place from October 9-13 at the Dubai International Convention & Exhibition Centre. MoF and NBAD will also be taking part in Gitex Shopper 2011 from October 8-15 at the Dubai Airport Expo Centre (Central Hall C211).

The G2 E-Dirham is a unique, multi-faceted system that covers a wide range of uses pertaining to electronic collection and payment. The system utilizes the latest available IT advancements and follows global best practices in security and efficiency, and provides new channels for e-payment in the UAE connected to global payment networks.

HE Younis Haji Al Khouri, Undersecretary of MoF, indicated the Ministry of Finance was one of the pioneers in supporting the UAE’s vision in positioning the country as a leading nation with regards to government services. The launch of the G2 E-Dirham will provide users with a state-of-the-art mechanism for payments.

HE Al Khouri added: “MoF aims at continuously enhancing e-payment methods applied in government and private domains, in line with our aim to rationalize the UAE’s financial resources and achieve sustainable development for the nation. Our partnership with the National Bank of Abu Dhabi in launching the second generation of the E-Dirham reflects our commitment to cooperate with local financial and banking institutions to develop the most efficient and advanced financial services.”

Commenting on the partnership, HE Saif Al Shehhi, Senior General Manager of the Domestic Banking Division of NBAD, said: “The National Bank of Abu Dhabi was selected for this project due to the vast expertise that the bank holds in developing innovative e-services. As one of the leading banks in the UAE, we believe in the enhancement of joint efforts between the public and private sectors in the UAE due to the positive impact these partnerships will have on the financial growth that the nation is witnessing.”

MoF and NBAD will be distributing 45,000 prepaid E-Dirham cards, which is compatible with Visa, to Gitex Technology Week and Gitex Shopper visitors.

Background Information

UAE Ministry of Finance

The UAE Ministry of Finance (MoF) is responsible for implementing all fiscal, monetary and industrial policies related to the UAE’s economic development. Among its core responsibilities are the preparation and allocation of the Federal Budget and the management of the government’s financial position.