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NBF partners up with Ministry of Finance to launch eDirham Instant

This partnership is in line with the UAE’s vision to become a cashless society

National Bank of Fujairah PJSC (NBF) announced today that it launched eDirham Instant , the latest digital payment method that allows customers to pay for governmental fees and services using online banking. Led by the Ministry of Finance, this payment scheme is a result of a collaborative partnership between UAE governmental entities and key national banks across the UAE.

Available on NBF Corporate Access, the eDirham service offers an array of benefits that are aimed at making the customers’ experience smoother and more convenient. Available at their fingertips, users will be able to conduct instant and secure payments at any given time and in any given location using online banking app. The eDirham payment scheme is widely accepted across all governmental services, ministries, federal and local authorities.

Commenting on the eDirham Instant Pay, Vince Cook, CEO of NBF said:” We are very excited to be partnering up with the MOF to deliver a hassle-free payment method for our customers. With the UAE’s transition to a cashless society, we wanted to be at the forefront of this movement which is why we have dedicated our efforts to deploying the latest digital payment methods to our customers. We have seen a surge in digital transactions this year and they are only projected to increase moving forwards. With that in mind, it becomes essential for banks to offer new, safe and seamless payment facilities that support the country’s overall transition to a cashless economy”.

Commenting on this launch, H.E. Saeed Rashid Al Yateem, Assistant Under Secretary of the Resource and Budget Sector at the Ministry of Finance said:” The Ministry of Finance is continuously seeking to connect, collaborate and coordinate with various banks and financial institutions, with the aim of providing new and advanced e-payment channels that stay abreast of the digital transformation in the country's financial services. This, in turn, will strengthen the UAE's standing in international competitiveness indices, and position it as a global model in smart government, and in building a knowledge economy.”

Over the past few months, NBF has been upping its digitisation efforts by launching key initiatives that support its customers journey towards cashless spending. Just recently, the bank went live with the Emirates Digital Wallet ‘klip’, a cashless payment application that allows customers to store, transfer and conduct payments in a seamless and secure manner. The bank was also the first to digitise the SME sector, by launching a bespoke SME platform - NBF Connect that is aimed at helping businesses navigate their journeys towards success.

About National Bank of Fujairah PJSC:

Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’a compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.

NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB+ / A-2 by Standard & Poor’s, both with a negative outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking service unit) across the UAE.