7.44 PM Thursday, 28 March 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:57 06:11 12:27 15:53 18:37 19:51
28 March 2024

Ministry, NBAD to launch new e-dirham system

Published
By Abdel Hai Mohamad

A new version of the e-dirham electronic payment system is to be launched following the signing of an agreement by the Ministry of Finance and National Bank of Abu Dhabi (NBAD).

The second generation scheme will provide a range of additional services with high levels of security. There will be many new methods for the payment and collection of government and non-government fees, bills and fines, plus e-commerce and internet payment systems and payment via mobile phone, known as m-payment.

"We will apply the G2 e-dirham at the beginning of next year," Ahmad Assadi, Manager of Electronic Banking Services Projects at NBAD, told Emirates Business yesterday.

"The number of transactions in the first year is expected to reach 15 million.

"Magnetic prepaid cards will be available with values ranging from Dh100 to Dh2,000. They will be rechargable up to a maximum of Dh5,000 at ATMs and payment machines, accredited channels and outlets or via direct transfers from bank accounts or mobile phones."

He said the G2 e-dirham would cover 70 services. Some 350 new ATMs linked to the scheme, along with 40 existing ones, would be available throughout the country. "Our aim is not to gain profits but to establish a strong six-year partnership with the ministry.

"We have been selected among nine institutions and banks following a detailed assessment that took several months.

"The e-dirham will not be operated only by the NBAD. Other banks will participate in the scheme in co-operation with the ministry."

In addition to the new services, the G2 e-dirham will incorporate the services provided by the existing e-dirham systems.

Younis Haji Al Khoori, Ministry of Finance's Undersecretary, said: "Signing this MoU with NBAD to launch the G2 e-dirham comes as part of our continuous efforts to upgrade e-services, which is a major goal of the federal government's strategy to satisfy the public. 

 

Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.