UAE - Mubasher: The UAE Ministry of Finance (MoF) has entered into a Memorandum of Understanding (MoU) to transfer its eDirham payment platform, including all of its assets, systems and operations, to the Central Bank of the UAE (CBUAE), the Emirates News Agency (WAM) reported.
This step aims to unify the Federal Government’s digital payment systems and offer innovative national services to the public and business sectors.
The MoU is in line with the country's efforts to improve government entities' service standards and provide new and advanced electronic payment solutions to accelerate the digital transformation in the financial services sector.
The UAE Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini, said: "Enhanced co-operation and unified efforts in the area of digital payments would increase efficiency and provide unprecedented access for the business sector and digital payments."
Meanwhile, the Governor of the CBUAE, Khalid Mohamed Balama, commented: "Co-operation between the two parties will contribute to strengthening digital payment services in the country, and support efforts made in the context of the great development the UAE is witnessing in the area of enhancing digital services to businesses and individuals, and improving quality of life."
