Dubai’s RTA to go paperless with its bank transactions

The UAE has been pursuing environmentally friendly strategies in recent years, even applying them to government transactions. (Shutterstock)
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Updated 10 April 2021
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Dubai’s RTA to go paperless with its bank transactions

  • The government entity signed a deal with Dubai’s biggest bank, Emirates NBD, to migrate its transactions online

DUBAI: Dubai’s Roads and Transport Authority (RTA) will fully digitize its bank guarantee management process, cutting its paper usage by 100 percent, it announced on Saturday.

The government entity signed a deal with Dubai’s biggest bank, Emirates NBD, to migrate its transactions online using the bank’s Smart Guarantee Trade Finance Platform.

The platform enables end-to-end paperless handling of guarantees including viewing transaction details online, and making amendments, cancelations, extensions or claims, according to a statement.

“This initiative definitely goes in line with Dubai Government’s Paperless Strategy and RTA’s commitment to provide smart services and realize its strategic goal of Smart Dubai,” Yousef Al-Ridha, RTA’s chief executive office of corporate administrative support services sector.

The UAE has been pursuing environmentally friendly strategies in recent years, even applying them to government transactions.


Saudi-US Trade & Investment Council holds 9th meeting and discusses 31 joint initiatives

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Saudi-US Trade & Investment Council holds 9th meeting and discusses 31 joint initiatives

RIYADH: The Saudi-US Trade and Investment Council held its ninth meeting in Riyadh on Jan. 21 and discussed 31 joint initiatives across various fields aimed at achieving the objectives of the Kingdom’s Vision 2030.

The meeting was chaired by the General Authority for Foreign Trade from the Saudi side and the Office of the US Trade Representative from the American side, with the participation of 20 entities from both, according to the Saudi Press Agency.

The council aims to enhance economic cooperation between the two countries by reviewing trade and investment policies, addressing obstacles, and supporting technical dialogue between relevant entities. 

It also focuses on developing trade and investment policies, facilitating trade, addressing technical and regulatory obstacles. The council aims to support cooperation in sanitary and phytosanitary measures and agricultural products, enhancing intellectual property protection, and fostering growth in digital trade, innovation, and emerging technologies.

The meeting was attended by several government entities including the Ministry of Economy and Planning, the Ministry of Industry and Mineral Resources, and the General Authority of Civil Aviation.

The Saudi Food and Drug Authority, the General Ports Authority, and the Saudi Data and Artificial Intelligence Authority were also attending, in addition to the Local Content and Government Procurement Authority, and the Zakat, Tax and Customs Authority.