24.5 C
Dubai
Sunday, November 24, 2024
spot_img

UAE: Dubai waives commissions for direct bank debit fees-News

[ad_1]

The Dubai government allows customers to pay for more than 1,200 services through an electronic payment portal.

The Dubai Ministry of Finance (DoF) announced on Sunday that it will waive all government transaction fees incurred when customers pay fees from their current and savings bank accounts through the Dubai Smart Portal (e-Pay).

DoF stated that when government customers pay any service fee of any Dubai government entity through the electronic payment portal, no commission will be charged, and the bank will pay directly, confirming that “commission collection is no longer valid.”

Abdulrahman Saleh Al Saleh, Director General of DoF, said: “Over 150 million dirhams per year, DoF will, on behalf of customers (individuals or companies), bear the commissions paid to authorized collectors of government fees through smart channels.”

“Symbolizing the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we hope to encourage digital transformation and increase the happiness of our customers.”

Jamal Hamed Al Marri, executive director of the DoF Central Account Department, said that among the smart payment channels approved by the government, government service fees paid by customers via credit cards continue to account for the largest share.

“This is due to the ease of use of credit cards and the privileges that banks provide for their holders. On the other hand, we found that many customers want to pay government transaction fees through direct debit cards linked to their bank accounts, including current And “Save. Therefore, we decided to abolish the commission levied on the use of direct debit cards to encourage customers and provide them with more payment options,” Al Marri added.

“This step is to support the demand for smart payment channels, especially because the Dubai government will achieve complete paperlessness in December next year to achieve the goal of Dubai’s paperless strategy,” he said.

The Dubai Paperless Strategy was launched in February 2018 by Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Committee, and aims to digitize all internal and external government transactions And make it paperless.

DoF and the Dubai Digital Authority intend to provide smart payment services for direct debits by connecting the electronic payment portal with the UAE Central Bank platform later this year, including more than 14 banks.

The Dubai government allows customers to pay for more than 1,200 services through an electronic payment portal, which is managed by the Dubai Digital Authority and regulated by DoF. In addition to the “noqodi” e-wallet, payments can also be made via credit cards and direct debit cards from bank accounts.

— Issacjohn@khaleejtimes.com

author

Isaac John

The editorial director of Khaleej Times is a well-connected Indian journalist and economic and financial commentator. He has worked in mainstream journalism in the UAE for 35 years, including 23 years in Khaleej Times. He is a graduate of English major and a graduate of economics major, and has won more than 20 awards. He is widely praised for his real and insightful analysis of global and regional business and economic trends, and is respected for his keen understanding of local business scenarios.




[ad_2]

Source link

Related Articles

UAE Operation ‘Chivalrous Knight 3’: Over 121 Aid Shipments Delivered to Gaza Amid Humanitarian Efforts

UAE has reinforced its dedication to humanitarian relief through the ongoing effort known as Operation ‘Chivalrous Knight 3.’   This initiative has seen the UAE dispatch...

With an eye towards its IPO on Nasdaq and Euronext, AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets...

AAD Invest Group finalizes a EUR 75 million funding agreement with Global Emerging Markets (GEM) About AAD Invest Group – Nov 2024 Founded in January 2024...

UAE Strengthens Global Ties: President Welcomes Qatari Prime Minister, While Crown Prince Leads at G20 in Brazil

UAE is making significant strides in strengthening its international relations, with recent diplomatic activities highlighting the country's growing influence on the global stage. In a...

Abu Dhabi Crown Prince Leads Strategic Talks at G20: Strengthening UAE-Brazil Relations for a Prosperous Future

Abu Dhabi’s Crown Prince, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, is currently in Brazil to participate in the G20 Summit, a...

From Seed to Superfoods The Inspiring Journey of Bharat Budhiraja and Urbana Superfoods

In a world teeming with fast-paced food trends, Bharat Budhiraja is charting a unique path with his brand, Urbana Superfoods, owned by Krish Perennials Pvt....

Latest Articles