DEWA, Emirates NBD sign Direct Debit MoU

Emirates NBD Direct Debit product caters to Institutions and Businesses by helping their customers settle their bills without any intervention through smartBusiness by a pre-approved auto debit facility with the bank.

The new service will be implemented in two phases, first, account holders of Emirates Bank will benefit from the new service where they will provide a debit mandate based on which, automatic withdrawals can be initiated by DEWA and Emirates NBD. This will eliminate the tasks of preparing, dispatching or queuing up to settle DEWA Bills. DEWA expects that as this new system eliminates customer intervention at time of bill payment will raise customer service levels and also result in timely realisation of its bills. The service will be extended to customers of National Bank of Dubai at a later stage.

H.E. Saeed Mohammed Al Tayer, the Managing Director and CEO of DEWA, said:

"We are extremely happy to partner with Emirates NBD and provide our Institutional and Retail customers another channel with added convenience to settle their DEWA bills. It's in line with our strategic objective of providing better customer services using technology based solutions. We have been working very closely with Emirates NBD and are using their online banking channel "smartBUSINESS" to achieve our objectives."

Mr. Abdul Shakoor Tahlaq, Sr. Executive Vice President-Business Development, Emirates NBD, said:

"We are pleased to work closely with DEWA and build on our strong relationship. Our Corporate & Institutional channel smartBUSINESS offers a wide range of products & services and caters to a growing population of business customers. We have seen a surge in the adoption of electronic banking solutions from government institutions and corporate customers and are fully committed to invest and develop cutting edge products and services."

The direct debit service forms part of the extensive suite of Collections, Payments and Trade products available through smartBUSINESS, the Emirates NBD Cash Management solution for Institutions and Business customers, he said.