Agreement to perform bank guarantee e-registration service
UAE’s Ministry of Finance and Dunia Finance have signed an agreement. The deal is expected to perform bank guarantee e-registration service electronically for the Ministry of Labour and Social Affairs, through the e-dirham system.
The agreement, which was signed by Mr. Faisal Ali Al-Mansouri, Revenue Administration Director, UAE, and Rajeev Kakar, Executive Director and CEO, Dunia Finance, allows the latter to receive refundable financial guarantees from institutions.
Faisal Ali Al-Mansouri, Revenue Administration Director, Ministry of Finance, said: “This agreement is part of a plan by the Ministry of Finance to spread out the existing base of guarantee e-registration service electronically.”
Rajeev Kakar, Executive Director and CEO, Dunia Finance, said: “We are working with the Ministry of Finance, various federal government and local agencies that are actively contributing to UAE’s economy and keeping pace with the requirements of this significant growth by offering sophisticated financial services that reach out to all segments of society.”