Ajman, United Arab Emirates: Ajman’s Department of Finance (DoF) has signed a cooperation agreement with First Abu Dhabi Bank (FAB), the UAE’s largest bank and Magnati, a regional leader in the payment solution industry, to support the launch of new payment channels and services through the AjmanPay application. This agreement emphasizes the department’s commitment to implementing the Ajman government’s strategy of fostering strategic partnerships between the public and private sectors.
The agreement falls within the DoF’s ongoing efforts to develop innovative financial services that offer customers the ability to save their financial data and manage their financial transactions in a unified and tailor-made platform linked to their bank accounts.
Commenting on this, His Excellency Marwan Ahmed Al Ali, Director General of Ajman’s Department of Finance, said: “We are pleased to complete this partnership with First Abu Dhabi Bank and Magnati, and we strongly believe that this step will contribute to consolidating the leadership of Ajman as a global centre for financial services in the digital era and contributing to the success of UAE Centennial 2071.”
“Customer happiness has always been a top priority for the Department of Finance. In this context, we are always working to strengthen strategic partnerships with various government and private organizations that are active in the field of financial services innovation. This partnership will provide customers with enhanced payment options and channels that provide them with ease, convenience, and a high degree of security,” H.E. Al Ali added.
Ramana Kumar, Chief Executive Officer of Magnati, said: “As a leader in the UAE’s payment landscape, we are committed to connecting our partners to the latest technologies and solutions in the payment sector. Our partnership with Ajman’s Department of Finance on Ajman Pay will accelerate the emirate’s shift toward a cashless economy and ensure that government entities benefit from the convenience and security that digital payments offer.”
Tariq Ibrahim Al Marzouqi, Director of Government Revenue Department at the Ajman Department of Finance, said: “Our partnership with FAB and Magnati, which advances electronic payment processes to become more smooth and secure, represents a quantum leap forward for the Ajman Pay Platform. The Department of Finance seeks to continuously develop the “AjmanPay” system by providing multiple and innovative payment options and channels that keep pace with the latest international standards and suit the various categories of customers. This aims to make paying for government services in the emirate as easy and seamless as possible for customers, as well as improve the quality and efficiency of the services provided to them.”
Imad Ahmed Abdalwahab, MD & Head of Business Development – Government Payment Solutions, said: “Magnati is excited to partner with Ajman’s Department of Finance to implement best practices in automating revenue through Ajman Pay. We will support the Ajman Government’s cashless vision with a suite of cutting-edge payment solutions that improves government revenue collection and enhances customer experiences.”
Eng. Ahmad Nazmi Ibrahim, Ajman Pay Project Manager, said: “Our platform offers the latest digital solutions and smooth, secure technologies, as well as a variety of flexible payment methods and channels, thus satisfying the needs of various customer segments. Our goal is to achieve enhanced efficiency in payment processes and the collection of government revenues by drawing lessons learned from the Covid-19 pandemic, which highlighted the need to accelerate automation and digital transformation in all fields.”
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