During its recent participation at GITEX Technology Week 2014, the Ministry of Finance (MoF) signed an agreement to integrate the e-Dirham system with the Wall Street Exchange Centre. MoF and the National Bank of Abu Dhabi (NBAD) have also signed a separate agreement with Dubai World, which will also join the e-dirham network. In addition, the Ministry celebrated the activation of the millionth e-Dirham card.

Both agreements stated that the two parties are to join the e-Dirham system, enabling Dubai World and the Wall Street Exchange Centre to collect service fees provided to the public, develop payment methods and discontinue manual payment and cash collection processes.

NBAD’s role is to offer Dubai World safe e-payment channels, such as POS and online collection points. Additionally, the agreement with Wall Street Exchange Centre will ensure that e-Dirham cards and re-charging services are provided at all of its branches across the UAE.

During GITEX, MoF also launched an initiative with the Emirates Identity Authority (EIDA), to make Emirates ID cards an accepted   e-payment method, which can be used with electronic payment devices, electronic payment gateway and payment gateway via smartphones. The initiative was launched by H.E. Younis Haji Al Khouri, Undersecretary of MoF and HE Dr. Ali Mohamed Al Khouri, Director General of the Emirates ID.

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