Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Banking and Investments


Abu Dhabi, UAE – 6th of February 2018:   The Central Bank of the United Arab Emirates launched an initiative to develop a National Payment Systems Strategy for the U.A.E. The initiative aims to position the U.A.E. at the forefront of innovation and establish a world-class payment system to enable safe, efficient and customer-centric domestic and cross-border payments. This initiative will enable the U.A.E. in transitioning to a cashless society, reducing the cost of domestic and cross-border payments, promoting innovation and positioning the country as a global leader in payment systems in line with the U.A.E. Vision 2021.

H.E. Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE, said “In recent years, countries across the world have harnessed technology to accelerate economic development and transform their economies. In the context of the UAE, we believe that the empowerment and enablement of customer-centric payments will serve to drive the overall competitiveness level of the UAE economy and benefit the public and private ecosystem, while supporting the UAE smart government agenda. This will result in benefiting from higher quality services at a competitive cost, in addition to reduced transaction fees, greater levels of efficiency, improved collection cycles, and more innovative payment channels.”

In its role as the custodian of the major payment systems, and given the strategic importance of this initiative, the Central Bank will own and lead the delivery of the National Payment Systems Strategy. Under this strategy, a number of key objectives will be achieved among which, ensuring the payment systems are interoperable and well regulated, and implementing the enabling environment to support the transformation of the U.A.E. to a cashless society on the long run. 

In the context of its continuous support to the U.A.E. Government's strategic agenda, the Central Bank, as part of this initiative, will consult and collaborate with the relevant stakeholders from the federal and local governments, other regulatory entities, financial and non-financial institutions, telecommunications companies, industry and other entities. 

Posted by : GoDubai Editorial Team
Viewed 7875 times
Posted on : Tuesday, February 6, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : UAE Exchange Partners with Groupe Banque Populaire for Remittances to Morocco
Next Story : UOWD Board Chairman Peter Robson awarded Order of Australia (OA) in Australia Day Honours List
Email this article Print this article

Share this article with your friends and followers


Back to Top  
Most Viewed Press Release posted in the last 7 days
Top Perfume Picks for Mother's Day @ Glambeaute.com
Filorga Launches Lift Range
Nissan's e-POWER technology wins environmental award
The Global Sensation UFO Lands in Europe at Cosmoprof 2018
Max launches its Inaugural Abaya Collection
Discover the MISA Cho Gong Jin Oriental and Herbal Skincare Range from Missha
Drink yourself to looking younger with Skinade
Mother's Day Offer from Blush N Curls Salon
It's Mother's Day!
Corporate Power Dressing redefined at Kachins Signature
The V-Tox Facial by Linda Meredith Skincare
Al-Futtaim Honda launches 10th generation Honda Accord
GMC sets a new GUINNESS WORLD RECORDS title in partnership with Abu Dhabi Police
LULU Organic Food Activation
The only line you'll love in your face – your perfect jawline!
OMEGA Launches its NATO Strap “Pop-Up Boutique” in Paris
ba&sh's Spring-Summer collection 2018
Raymond Weil introduces the Maestro Blues
Cadillac Alghanim kicks off world-class opportunity in Kuwait
GUESS Unveils the Kids Spring 2018 Collection and Campaign
A Meet & Greet with the Pakistani Cricket Sensation Umar Akmal
Milan-san Remo a Dream Target as Uae Team Emirates Announce Super-seven Line Up
The Spring Summer 18 Womenswear Collection
Beyond Beauty partners with Platinum Records to position teen sensation Hala Al ...
Awqaf and Minors Affairs Foundation Attracts 1200 Emirati Job Seekers at Careers...
Join the UAEs first Women's Warrior Challenge.
Samsung Mother's Day Blurbs 2018
Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum Inaugurates SIKK...
Sanofi introduces innovative therapy to help address high unmet medical needs of...
UAE's first ICU Symposium attracts over 150 of GCCs top healthcare professionals
Scuderia Ferrari Father & Son Gift Set
From Jade to Diamond
SOUQ welcomes 3M's innovative products to serve everyday customer needs
10th Emirates Airline Festival of Literature Ends with a Bang!
Velvet Caviar meets Roger Dubuis Diva power
Lufthansa Group achieves best result in its history
Centrepoint Partners With Anghami To Launch New Talent Sessions
Alexey Firsov Solo Exhibition
Agreement signed in the presence of His Highness Sheikh Mohammed Bin Zayed Al Na...
Dubai ranked amongst the world's top destinations for FDI in the real estate market
Top Picks for Babies & Kids @ Glambeaute.com
Business of beauty goes green at Beautyworld Middle East 2018 as Natural & Organ...
2XL launches “Caspar” living room collection in grey
Dubai WoodShow takes off with more than 300 exhibitors from 55 countries and six...
10 Must-see Activities at Dubai International Horse Fair This Week
Galeries Lafayette Le Gourmet Food Fest returns back to City Walk
IKEA launches the OMEDELBAR limited-edition collection!
24,208 school pupils take part in inspirational ‘lema?' sessions
Sleep deprivation in children can lead to obesity and diabetes