The UAE Banks Federation has unveiled a key project that forms the main financial component of the Dubai Smart Government initiative.
The Mobile Wallet project – created by a committee set up by the UAE Banks Federation, on behalf of the banking sector for the Dubai Smart Government initiative – will provide users of mobile devices with an electronic equivalent of a traditional wallet, which is able to store and transfer money, and pay for goods and services conveniently from a common platform.
The committee has selected an external consultant to help design the blueprint for implementation of the Mobile Wallet. The consultant has been appointed through a competitive tender and the framework for the roll out of the project – expected to take 12 months to complete – will be published after the design phase is concluded in March.
Banks involved in the UAE Banks Federation’s committee include: Abu Dhabi Islamic Bank (ADIB), Emirates NBD, First Gulf Bank, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, Commercial Bank of Dubai, Standard Chartered Bank, Mashreq Bank and Dubai Islamic Bank. Tirad Al Mahmoud, CEO of ADIB, chairs the committee.
“The challenge that we were set was to demonstrate how UAE banks can step up to make their contributions to the vision for the UAE’s future. The Mobile Wallet does just that and I think it will be clear to all who use the solution, which is now being created and will be presented in greater detail, once the blueprint is published by the end of March,” says Al Mahmoud.
Under the Dubai Smart Government initiative – announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in May 2013 – all key government services will be delivered via mobile phones and other digital tools. The project is an advanced step of creating an e-government, which includes making most of its services available online.