CBD aligns with Al Fardan Exchange to boost eDirham use

By Rahul Vaimal, Associate Editor
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One of the largest banks of UAE, Commercial Bank of Dubai (CBD), has come together with Qatar-based Al Fardan Exchange to be a channel partner for issuing and topping-up the new eDirham card launched by the Ministry of Finance.

The eDirham card is initiated by the government as part of its mission to lead a digital economy by motivating people to make payments for a wide range of services across Ministries through the cashless payment platform.

The new eDirham cards have assured to offer the next generation level convenience, security and flexibility as they will allow the users to set up eDirham Wallet, inquire about their card balances and review their transaction statements.

Commercial Bank of Dubai (CBD) is the first bank in the UAE to both issue the new eDirham card and acquire payments made through the new card. With the current partnership, Al Fardan Exchange and CBD together are taking the lead in issuing the new eDirham card to customers.

The customers can now visit any of the 66 Al Fardan Exchange branches across the UAE to get a new eDirham Hala card or top-up their existing cards with the utmost ease.

Commenting on this partnership deal Saeed Rashid Al Yateem, Assistant Under-Secretary of Resource and Budget Sector at the Ministry of Finance stated that, “The Ministry of Finance is keen to strengthen partnerships between the public and private sectors to support the transformation of the digital economy and improve the quality of services provided to individuals and companies.”

The initiation of the eDirham system is one of the ministry’s most notable achievements which offers a smart, convenient and secure way to seamlessly pay the government and non-governmental service fees.

“The Ministry of Finance continues to develop the country’s integrated digital payment system, to adopt the latest FinTech technologies and applications, and launch incentive initiatives to encourage various segments of society to adopt advanced digital options, in line with the UAE Vision 2021 and the UAE mGovernment initiative,” Al Yateem further added.

Dr. Bernd van Linder
Dr. Bernd van Linder
Commercial Bank of Dubai

“We are delighted to partner with Al Fardan Exchange, one of the leading exchange houses in the UAE, to provide a convenient and easy way for customers to get and top-up the new eDirham card. We are constantly working towards supporting the government initiatives and providing greater convenience and access for our customers, by introducing new channel partners who help us in fulfilling the growing needs of our customers.”

The CEO of Al Fardan Exchange LLC and Hasan Al Fardan, CEO of Al Fardan Group, Osama Al Rahma, stated that this partnership is in line with the digital transformation strategy of the firm government’s mission to boost digital payment system.

Further, Mr. Al Rahma added that it is a proud moment for the group to become a part of the UAE Finance Ministry backed partnership to launch the first version of the new eDirham cards in collaboration with CBD.