Monday 09, October 2017 by Nabilah Annuar

Mashreq Bank and the Dubai Government sign agreement for payment collection via Smart Dubai Portal

Initiative in collaboration with Dubai DOF and Smart Dubai.

Represented by the Department of Finance (DOF) and Smart Dubai Government Establishment (SDG), Dubai Government signed a partnership agreement with Mashreq Bank to collect payments made via Smart Dubai Portal. Under the agreement, Mashreq Bank is to become an acquirer of payments made with credit and debit cards issued by banks in or outside the UAE.

The signing of the trilateral agreement was attended by Abdulrahman Saleh Al Saleh, DOF Director General and HE Abdul Aziz Al Ghurair, CEO of Mashreq Bank. The agreement was signed by Wessam Al Abbas Lootah, DSG Dubai Smart Government CEO, Jamal Hamed Al Marri, Executive Director of DOF’s Central Accounts Sector, and Pankaj Kundra, Head of Payments, Retail Banking Group at Mashreq Bank, in the presence of other officials from all three entities.

Commenting on the partnership, Al Saleh said, “We welcome Mashreq Bank to SDG’s smart Dubai portal as an acquirer. This is part of the close multifaceted cooperation between Dubai Government, represented by DOF and SDG, and banking and financial institutions. This step will contribute to realising the ambitions of its leadership, and to achieve the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the world’s happiest and smartest city.”

HE Wesam Lootah, CEO of the Smart Dubai Government Establishment (SDG) added, “The success of our smart government services is amplified by the excellence of our public- and private-sector partners. Their support allows us to offer the best possible services to people, and having Mashreq Bank on board is a great addition for our smart payment portal, which allows users to easily pay all fees, saving time, effort and resources. This, in turn, helps preserve the environment and promote the seamless digital lifestyle of the 21st century. The UAE is one of the world’s leading digital financial markets. With the support of our partners, we look forward to realising our leadership’s vision for the UAE to become the best country in the world by 2071 across multiple sectors, including digital financial transactions—a fundamental element of an urban lifestyle, particularly in smart cities.”

Sharing similar sentiments, Al Ghurair said, “We are confident that our partnership with the Smart Dubai Government Establishment and the Department of Finance can ensure the growth of a smart portal that reinforces our leaders’ vision. We strongly believe that this collaboration between the private and public sector will ensure that the best possible service is delivered to customers across the UAE on the smartest payment platforms.”

“The endorsement of Mashreq Bank as an acquirer on Dubai portal is set to enhance and support competitiveness, transparency and flexibility in light of the major annual increase in the portal’s revenues. The Dubai Government revenues through the portal amounted to AED 12bn between June 2016 and June 2017. The growth in smart transactions revenues is an indicator of the sound organisational approach followed by the Government to facilitate the collection of government revenues through one of the UAE’s leading banks, in line with our efforts to supporting Dubai’s smart transformation. This key step is an enabler for Dubai Government to continue providing the best services to customers, whether UAE nationals, residents or visitors, which will surely enhance their happiness,” concluded Al Marri.

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