The Ministry of Finance (MoF) is hosting a series of workshops to train IT and trade finance employees in banks on the Electronic Certification System (ECS) to collect fees through the e-Dirham system.
The Ministry recently organised the first workshop at the Ministry of Labour in Dubai. This initiative follows MoF’s announcement of launching the fee collection phase for authentication services pertaining to certificates of origin and invoices for imported goods, which are provided by the Ministry of Foreign Affairs, through the e-Dirham system at several banks operating within the UAE.
These workshops aim to familiarise employees on the importance of adopting the ECS. The system helps to unify payment and collection methods, saves time and effort in processing monthly reconciliations on account statements received by the Ministry on a periodical basis, in addition to speeding up the collection of revenues and transferring them to the Unified Treasury Account on a daily basis.
Fees for transactions and services pertaining to the authentication of certificates of origin and invoices for imported goods, amount to AED 20 million on a monthly basis.
HE Younis Haji Al Khoori, Undersecretary of MoF, emphasised the Ministry’s commitment to conduct the necessary studies to determine which services provide periodic financial returns to the federal Unified Treasury Account, and then identifying opportunities to include them in the e-Dirham system to save time and effort in processing these services and transferring their collected fees to the treasury account. HE said: “This new service plays a key role in strengthening the e-Dirham’s position as an innovative national network for e-payments.”
HE added: “The Ministry strongly believes in the principle of development, specifically in terms of providing the right set of skills for the system’s specialists and training them on its various operations, in order to ensure speed, accuracy and efficiency of government financial operations. This is a result of the Ministry’s efforts to ensure innovation in its operations with its partners, which is reflected in the continuous updating and expanding of its smart platforms, particularly, the e-Dirham system. MoF’s main aim is to achieve a high level of customer satisfaction and ensure the speed and accuracy in its services.”
Individuals and companies that import goods from outside the UAE are able to pay fees for authentication services with e-Dirham cards.
MoF, represented by the e-Dirham system team, worked on activating this service in five banks and financial institutions operating within the UAE in the first half of 2015, after implementing it in all the Ministry of Foreign Affairs’ offices and diplomatic missions around the world. Standard Chartered Bank is the first financial institution to offer this service in the UAE, providing its customers ,whether individuals or companies, with the opportunity to complete authentication services and to pay all related fees electronically through e-Dirham cards.