The National Bank of Abu Dhabi (NBAD) is now the first local bank to offer online credit transactions. NBAD has signed a contract with Comtrust, a business unit of the Emirates Telecommunications Corporation, Etisalat, which would enable the Bank to provide Internet-based credit card processing, Khaleej Times reports. NBAD will utilize Comtrust's payment gateway infrastructure to facilitate these services.
NBAD, a public joint stock company that is 73% owned by Abu Dhabi Investment Authority (ADIA), is the country's largest bank. It is one of the principal bankers to several UAE government and semi-government organizations, and a main banker to a number of domestic and international companies in the private sector. NBAD operates the biggest network with 51 branches and 72 ATMs. The majority of its branches are located in the emirate of Abu Dhabi.
The new service will be available for government departments and any merchant in the UAE, on condition that these clients set up their online presence on the Internet. Omran Al Owais, General Manager of Comtrust, said that the agreement would provide NBAD customers with a competitive edge in the world of
e-commerce. Comtrust will advise NBAD's clients on the most efficient and cost-effective way to receive payments.
Meanwhile, the Global Management Consultant Company is taking measures to expand the use of e-commerce within the country. According to Al-Ittihad newspaper, the company will organize a global electronic business summit in Dubai this coming October. The Government and other world-renowned firms, including Microsoft, will be the principal sponsors of this summit. Several companies who will conjoin to discuss various e-commerce and e-business issues include American Express, Anderson Consulting, Cisco Systems, Arthur Anderson, Motorola and Oracle.
- albawaba.com
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