|03 July, 2019

Emirates NBD transaction banking boosts Dubai Department of Finance's digitisation strategy

DoF to fully automate payments through Emirates NBD smartBUSINESS Connect solution

(3rd from left) Ahmed Al Qassim and Jamal Hamed Al Marri with other Emirates NBD and DoF officials

(3rd from left) Ahmed Al Qassim and Jamal Hamed Al Marri with other Emirates NBD and DoF officials

Dubai:Emirates NBD, a leading bank in the region, has announced the successful implementation of a digitised payment solution for Dubai Department of Finance (DoF) to achieve full Host-to-Host (H2H) integration of all payment processes through the bank’s smartBUSINESS Connect solution.

Implemented by the bank’s Transaction Banking unit, the integration will ensure seamless and secured messaging between the two organisations for day-to-day banking operations, helping DoF save time, costs and resources. This ecosystem will provide both parties real-time data on transactions, saving big quantities of paper on an annual basis, in line with Dubai Paperless Strategy 2021. 

Emirates NBD’s smartBUSINESS Connect supports high volume transactions with assured data exchange, providing data for reconciliation as per industry standard formats. Through smartBUSINESS Connect, DoF will be able to conduct automated and secured outgoing payments with simultaneous transfer of payment data and approvals.

"In line with the vision of the wise leadership to transform the Government of Dubai into a fully smart model, DoF has gone a long way in achieving full electronic connectivity with banks, under the Dubai Paperless Strategy launched by H. H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council," said Jamal Hamed Al Marri, Executive Director of Central Accounts Sector at DoF. "Our fruitful cooperation with Emirates NBD is aimed at reducing the burden and workload on employees, saving on financial resources and reducing paper waste, as well as enhancing security and speed of work. We are keen to continue looking at advancing our relationship with the bank in the future."

“Emirates NBD is at the forefront of driving technologies to digitise clients’ processes, bringing greater efficiencies in their day-to-day operations and making banking smoother, faster and more secure,” said Ahmed Al Qassim, Executive Vice President, General Manager of Corporate Banking at Emirates NBD. “We were delighted to support DoF in this critical project that reflects our commitment to enabling the leadership’s Smart Dubai agenda of a paperless economy. Emirates NBD looks forward to future such collaborations with public and private sector clients to transform this vision into reality.”

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About Emirates NBD
Emirates NBD is a leading banking Group in the region. As at 31st March 2019, total assets were AED 525.8 Billion, (equivalent to approx. USD 143 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.

The bank currently has 234 branches and 1076 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.

The Group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the United Kingdom and representative offices in China, Indonesia and Turkey.

The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai. For more information, please visit: www.emiratesnbd.com 

For further information on Emirates NBD, please contact:
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com 

Tricia Kaul
asda’a bcw; Dubai, UAE
Tel: 971-4-4507600; Fax: 971-4-4358040
Email: Tricia.Kaul@bcw-global.com 

About The Department of Finance for the Government of Dubai
The Department of Finance for the Government of Dubai (DOF) was established in 1995 under the Law no. (5), to supervise all financial and accounting affairs of the Government of Dubai, in addition to issuing consolidated financial statements for the emirate's government.

DOF is responsible for the development of the government's general annual budget and its execution in cooperation with all relevant local government entities. Furthermore, DOF provides liquidity, including transferring sanctioned budgetary allocations to all relevant government entities. It also oversees the preparation and development of financial resources, and verifies the collection and provision of general revenues, while also supervising government banking accounts.

For more information, please contact:
Jehad Kamal
Head of Media & External Communication
Department of Finance, Government of Dubai
Direct +971 4 405 6079
Mobile +971 50 429 9150
jkamal@dof.gov.ae 

© Press Release 2019

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