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Electronic payment for trade licences

posted on 13/09/2009: 857 views

The Dubai Department of Economic Development (DED) has signed a co-operation agreement with Dubai Bank to facilitate electronic payment of trade licence fees.

This initiative is part of the efforts to accelerate Dubai's economic growth by providing eServices that easily facilitate the process of attaining trade licences and giving more flexibility for investors and customers.

As per the agreement, Dubai Bank will present a detailed weekly report to DED covering all transactions and procedures that take place in the preceding week. Dubai Bank will also provide DED with electronic systems services for reviewing banking settlements.

Ali Ibrahim, Deputy Director-General for Executive Affairs, DED, and Mohammad Amiri, Head of Retail Banking, Dubai Bank, signed the agreement.

"The DED is working continuously to upgrade and ease its trade licensing and business registration procedures to enhance the convenience of investors. The tie-up with Dubai Bank will enable customers to process their documents electronically without having to visit our offices," Ibrahim said.

Amiri said: "The agreement with DED complements the bank's vision of partnering with leading government departments that contribute to building the future of Dubai. We seek to be a leading financial corporation that offers Shariah-compliant electronic payment solutions, and the partnership with DED will further enable us to reach out to the larger investor community." – Emirates Business


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