The Dubai Department of Finance (DoF) and Central Bank of the UAE (CBUAE) have signed a Memorandum of Understanding (MoU) aimed at facilitating the payment of fees owed by consumers of Dubai government entities.

Government entities in Dubai and their customers will now be able to access CBUAE’s direct debit service to facilitate customer payments through the different banks in the UAE. The service aims to enhance the DoF’s relationship with both parties while ensuring increased efficiency throughout the collection process, CBUAE said in a statement. 

The MoU stipulates the development of a detailed action plan through the identification of common challenges and appropriate solutions in line with the public’s best interest. It also entails the establishment of necessary procedures that ensure a continuous technological connectivity between the two parties.

Abdulhamid M. Saeed Alahmadi, Governor of the Central Bank of the UAE, said: “This agreement reinforces the UAE’s ambitious journey towards digital transformation. It is a testament to CBUAE’s continuous efforts to effectively contribute to the achievement of this transformation as we aim to support institutions and ensure their services are of the highest standard, agility and efficiency.”

Commenting on this occasion Saleh Al Saleh, Director General of Dubai Department of Finance: “This MoU will provide consumers with access to a streamlined payment process. This achievement is part of our keenness to raise the happiness of customers by improving the quality of the services provided and by offering secure, fast and effective payment channels.”

(Writing by Seban Scaria; editing by Daniel Luiz)


Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020