Dubai Department of Economic Development (DED) has signed a co-operation agreement with Islamic Finance Company (Aafaq) to facilitate electronic payment of new trade licence fees as well as renewed and amended licences.

The initiative is part of the efforts of DED and Aafaq to enhance productivity, and save time and efforts for investors, said  DED statement.

As per the agreement, Aafaq will provide DED with electronic systems services to facilitate the review of banking settlements, and also present a weekly detailed report covering all transactions and procedures during the preceding week.

Mohammed Hilal Al Muroushdi, CEO of shared services sector, DED, and Walid bin Hamad Al Mubarak, managing director of Aafaq, signed the agreement at the DED headquarters in Deira.

DED is committed to strengthen customer service standards and enhance their ease of access to our services, said Al Muroushdi.
 
“We will provide added-value services to clients through eServices that easily facilitate the process of attaining trade licenses, and thus give more flexibility for investors and customers,” he added.-TradeArabia News Service