UAE's E-dirham Revenues Top $6bn In 2019
E-dirham system was launched in 2001 and is used by several ministries, federal and local authorities as a method of non-cash payment
Revenue generated by the e-dirham government services in the UAE exceeded AED22 billion ($6 billion) in 2019, with the total number of transactions reaching 49 million.
The total number of receipts was 24 million, said Saeed Rashid Al Yateem, Assistant Undersecretary of Resources and Budget Sector at the Ministry of Finance.
The e-dirham call centre registered a success rate exceeding 90 percent for resolving inquiries with the average speed of a transaction via the e-dirham system being 1.2 seconds.
Al Yateem said: “The Ministry of Finance strives to continuously provide innovative digital solutions to facilitate the payment of federal government services fees.
"The e-dirham system is an important technical achievement when it comes to digital payment gateways, thanks to its efficiency, accuracy and ease of use. It enhances cash-flow management, and raises it in line with best practices.”
The e-dirham system was launched in 2001. Several ministries, federal and local authorities, as well as private entities, rely on it as a method of non-monetary payment.
For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.Startups In Abu Dhabis Hub71 Secured $2.17bn In Funding Last Year
Hub71 startups in Abu Dhabi saw massive increase in funding in 2024 as innovation economy thrives Read more
UAE Fintech Pay10 First To Launch On Central Banks Open Finance Framework
The company has acknowledged the Central Bank of the UAE's crucial role in facilitating a responsible and secure rollou... Read more
PayPal Expands In MEA Region With Its Newly Launched Hub In Dubai
Will serve 80 countries in Middle East and Africa from its Dubai Internet City hub; Has signed several deals with regio... Read more
New Board Certifies DMCC Tradeflow As Fully Shariah Compliant
Shariah Supervisory Board appointed to oversee Tradeflow’s Islamic finance offering; Certified fully-compliant with A... Read more
Google-backed AI Firm NeurochainAI Teams Up With W Chain For Smart Payment Solutions
W Chain and NeurochainAI will combine forces to offer smart global payment tools, with real-time fee adjustment and fra... Read more
Al Ansari Exchange Renews Strategic Partnership With Visa
Promises to unlock new opportunities and deliver significant value across the financial services ecosystem and accelera... Read more