United Arab Emirates, Dubai- 21st February 2008: Emirates Bank, an Emirates NBD company, announced its partnership with Dubai World to introduce electronic debit services through the Central ePayment Gateway system of Dubai Trade, the innovative supply chain e-hub.  The agreement was signed at a ceremony held at Dubai World offices by Mr. Abdulla Qassem, General Manager I.T. & Operations and Chairman of Network International, and Mr. Mohammed Al Muallem, Sr. Vice President and Managing Director, DP World - UAE, in his capacity as a member of the board of Dubai Trade in presence of Mr. Mahmood Al Bastaki, Director, Dubai Trade.

Mr. Abdulla Qassem said on this partnership: "We are very proud to unite with Dubai World to work for the overall improvement of the two organizations' customer services.  We are confident that the introduction of the e-debit service system for Dubai World will offer our mutual customers new levels of convenience in making payments.  We view this step as an important milestone in what we hope will be a long-term and productive partnership between Emirates NBD and Dubai World."

Electronic Debit Services (e-debit) was introduced by Emirates Bank in 2002 as the ultimate direct debit solution, which completes the e-commerce cycle.  E-debit, powered by Network International, is an online payment mechanism that enables real-time transfer of funds from an Emirates Bank customer's account to the e-merchant account. The customer makes use of a virtual wallet to pay for his/her purchase.

According to the agreement, E-debit will be one of the several options available to the Dubai Trade users, which include customers of DP World, Dubai Customs, Economic Zones World and Dubai Multi Commodities Center, to pay the required fees online.

Commenting on the agreement, Mr. Jamal Majid Bin Thaniah said: "Dubai World has always been seeking to adopt high-end technological solutions to provide advanced services in various fields to its customers. Dubai World continuously upgrades and develops such services to meet the requirements of its partners."

"The e-debit agreement signed with Emirates Bank will simplify procedures and save customers' time and money as the payments are made electronically, where it is possible to transfer the amounts directly from their accounts with the bank," he added.

Speaking on Dubai Trade, Mr. Mahmood Al Bastaki said: "The Dubai Trade portal is a very convenient platform encouraging the application of electronic transactions, which ensure smooth trading flow. It offers services to a group of companies directly concerned with commercial transactions, such as DP World, Dubai Customs, Dubai Multi Commodities Centre and Economic Zones World, in a flexible and user-friendly manner that combines the whole supply chain elements, including forwarders, transporters, freighters, maritime lines, shipping agents and financial institutions."
 
"We are always ready to improve our electronic operational methods, relying on a group of experts in this field and implementing the latest systems and technologies. The supervisors of Dubai Trade are dedicating their time and efforts to establish this new concept aimed at simplifying transactions along the supply chain," he added.

The e-debit service is available to all account holders of Emirates Bank, Emirates Islamic Bank and meBANK. The customers can make the payments by using their respective online internet banking credentials.

Seeking to enhance the e-payment process, Dubai World recently signed an agreement with the UAE Ministry of Finance and Industry, under which the Ministry will provide the E-Dirham service for the collection of fees for services offered by Dubai World and its subsidiary companies. Both payment methods will be provided to the business sector as well as to individuals on Dubai Trade portal www.dubaitrade.ae from end of March.

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Reported by: Zeina El Haj- Retail PR, Events & Sponsorships Manager
Reported on: 21.02.2008