Latest news with #AdelAli
The National
26-05-2025
- Business
- The National
Air Arabia to start accepting payments in AE Coin
Air Arabia, the UAE's only listed airline, said on Monday it will start accepting the UAE-regulated stablecoin, AE Coin, as payment for flight bookings amid the shift to digital currencies. The Sharjah-based airline has teamed up with the UAE's digital bank Al Maryah Community Bank (Mbank) to enable the use of AE Coin payments through the AEC Wallet App, it said in a statement. It claims to be the first airline in the Middle East to allow air travel payments with stablecoin. In December, AE Coin, the first regulated digital currency in the UAE, was granted final approval by local authorities. Scheduled to be launched soon, AE Coin is pegged 1:1 to the UAE dirham. 'The newly introduced payment option through AEC Wallet reflects our ongoing efforts to adopt smart solutions that bring greater value, choice and flexibility to our growing customer base,' said Adel Ali, Air Arabia's group chief executive. In March 2023, the UAE Central Bank began implementing its digital currency strategy, Digital Dirham. Last year, its regulation on stablecoins indicated the bank would establish a clear operational framework for cryptocurrencies when implemented. Last month, Abu Dhabi entities IHC, ADQ and First Abu Dhabi Bank said they plan to launch a dirham-backed stablecoin, which will be fully regulated by the Central Bank, aimed at easing payment solutions. 'By integrating AE Coin into flight bookings, we are simplifying the payment experience for travellers and enabling a seamless cashless solution that aligns with the growing digital economy,' said Rafeek, general manager of AE Coin. Air Arabia's adoption of digital payment solutions within the aviation industry will set the stage for a wider adoption of digital currencies in the region, he added. The airline said for travellers to use AE Coin for their next Air Arabia booking, they need to download the AEC Wallet app from the App Store or Google Play, create an account, verify their identity, then top up the wallet via their Mbank account or other supported payment methods. The stablecoin's dirham peg will ensure price stability, security and low transaction fees, Air Arabia said. The move provides a degree of 'consumer confidence, knowing that unlike other digital currencies, this one is backed by the UAE Central Bank and has less likelihood of erratic valuation fluctuations', Saj Ahmad, chief analyst at StrategicAero Research, told The National. 'The thing to note here, though, is the attached fees. There will need to be greater incentivisation for customers to use AE Coin when booking flights because customers who are adept at online banking and purchases can also opt to simply buy their flights direct with Air Arabia and pay the cost of whatever their flight is without additional fees,' he added. Stablecoins – which are pegged to a fiat currency – tend to be less volatile than, say, Bitcoin, where swings are influenced by everyday factors such as tweets. They are grounded being tied to a currency, or liquid reserves including government treasuries, or commodities such as precious metals. The use of stablecoins continues to grow. An estimated $208 billion worth will be in circulation this year, a 28.4 per cent jump from 2024, according to Visa and its data partner Allium.
Sharjah 24
24-02-2025
- Business
- Sharjah 24
SPEA collaborates with Air Arabia to support teachers
Partnership details and benefits The agreement, signed by His Excellency Ali Al Hosani, Director General of SPEA, and Adel Ali, CEO of Air Arabia, aims to enhance the professional and personal well-being of teachers. The partnership includes offering "Rise for the Teacher" cardholders and their immediate families a 10% discount on all Air Arabia flights, valid until October 31, 2025. To access these benefits, cardholders must present their 'Rise for the Teacher' card along with their Emirates ID. Commitment to supporting teachers Her Excellency Dr Muhadditha Al Hashimi, Chairperson of the Sharjah Private Education Authority, emphasised the importance of investing in teachers to enhance the future of education. The initiative is part of Sharjah's broader vision to support and empower teachers, aligning with efforts to improve education quality. Air Arabia's role in supporting education Adel Ali of Air Arabia expressed pride in the partnership, emphasizing the company's commitment to supporting the education sector and acknowledging the pivotal role teachers play in shaping future generations. Future initiatives This agreement sets the stage for further collaboration between the Sharjah Private Education Authority and Air Arabia, with possibilities for expanding the partnership to continue supporting and developing the educational process. The summit provided an ideal platform for launching such impactful initiatives to enhance education quality and empower teachers.
