WAM ABU DHABI, 5th February, 2014 (WAM) — The UAE Banks Federation has unveiled a key project which forms the main financial component of the Smart Government initiative announced by Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum in May 2013.
The “Mobile Wallet” project is the translation into reality by a Committee set up by the UAE Banks Federation on behalf of the banking sector for the Smart Government initiative. In effect the project will provide users of mobile devices with an electronic equivalent of the traditional wallet, able to store, transfer money and pay for goods and services very conveniently from a common platform.
The Smart Government initiative aims to ensure that all key government services will be delivered via mobile phones and other advanced technology tools. Smart Government in the UAE is an advanced step of e-government which aims to encourage government and government-related entities to provide creative solutions for round-the-clock, highly efficient and transparent services through mobile phone applications that meet customers’ expectations.
AbdulAziz Al Ghurair, Chairman of the UAE Banks Federation, said: “We are very excited about the prospects for this highly significant project, which will revolutionise the lives of those who live in the UAE, and also have a significant impact on visitors to the country, subsequently, as we progress with this initiative. It puts the UAE ahead of the world by applying across the retail and commercial banking sector a solution that brings state of the art capabilities together with a vision for a modern and progressive nation. We will be seen as a model for others to follow.” Tirad Al Mahmoud, CEO of ADIB, stated: “The challenge that we were set to demonstrate how UAE banks can step up to make their contribution to the vision for the UAE’s future. The Mobile Wallet does just that, and I think it will be clear to all who use the solution now being created, and which will be presented in greater detail once the blueprint is published by the end of March, that this is a country that has the means and the appetite to lead the world with such advanced and collaborative thinking.” WAM/Esraa