Mubasher: The Smart Dubai Government Establishment (SDG) and the Department of Finance (DoF) has signed a memorandum of understanding (MoU) on the second day of GITEX Technology Week 2016.

The MoU manages electronic payment services and relevant financial settlements, according to a recent press release. 

SDG aims to create more opportunities for making life in Dubai City the smartest and happiest by adopting a fast collaborative approach for smart transformation.

Dubai City enables strategic partnerships among the government sector, private sector, and academic circles to design and implement services that are in line with its mission, the statement added.

Adopting a concept based on collaboration and mutual efforts among all Dubai establishments, SDG is committed to providing the best smart services.

“Several agreements have been concluded with some service providers and financial institutions to provide electronic payment of fees through direct debit, credit cards or other similar electronic methods of payments. Based on this, it has been agreed with the DoF to manage all financial and accounting affairs, conduct financial audit and prepare financial statements on behalf of Dubai Government,” it added.

"Smart services generated huge revenues as a result of compressing government expenditures through the use of the technological infrastructure provided by one entity to all Dubai government departments and entities on one hand and to individual and corporate customers on the other," CEO of SDG Wesam Lootah commented.

Meanwhile, Executive Director of Central Accounts at the DoF Jamal Al Marri said "The MoU has been signed with the aim of enabling the Dof and SDG to sign tri-party agreements with electronic service providers or financial institutions and upgrading services in such a manner that make Dubai Government's customers happier."