Abu Dhabi: The UAE Banks Federation has unveiled a key project that forms the main financial component of the Smart Government initiative announced by UAE Vice-President and Prime Minister and Ruler of Dubai His Highness Shaikh Mohammad Bin Rashid Al Maktoum in May 2013.
The Mobile Wallet project is the translation of the plan 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 mobile device users with the electronic equivalent of a traditional wallet that is able to store, transfer money and pay for goods and services 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 technological tools.
The Smart Government in the UAE is an advanced step of e-governance that 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.
Abdul Aziz 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,” he said.
