The Special E-Dirham cards issued by the United Arab Emirates (UAE) Ministry of Finance and Industry for electronic visa guarantees are now available at all Arab Bank for Investment and Foreign Trade (ARBIFT) branches.
ARBIFT issues the visa e-guarantees through its branches and specially established counters at the UAE Ministry of Labor and Social Affairs in Abu Dhabi, Dubai, Sharjah and Al-Ain. ARBIFT currently has thirteen offices and counters operating in various ministries in addition to its five branches in the UAE. It plans to expand the outreach for the service in the near future to all Emirates in the UAE.
Prior to the introduction of e-guarantees, companies and firms sponsoring foreign labor in the UAE were forced to undertake time consuming process of obtaining bank guarantees and incur huge recurring costs by way of issuing fees and renewal fees.
Launched in April 2003, the e-guarantee process has fully automated the process of visa guarantee payments through secure, reliable and speedy procedures and is accessible at convenient locations across the UAE. It significantly reduces back office paper work by providing a single clearance window. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
