Latest news with #AlMaryahBank
Al Etihad
a day ago
- Business
- Al Etihad
Abu Dhabi Judicial Department to accept fee payments in digital currency
22 July 2025 14:23 A. SREENIVASA REDDY (ABU DHABI) The Abu Dhabi Judicial Department (ADJD) has signed a strategic partnership agreement with Al Maryah Bank to enable the payment of judicial and legal service fees using digital the agreement, ADJD becomes the first government entity in the Middle East to officially accept AE Coin—a dirham-pegged stablecoin issued and managed by Al Maryah Bank. AE Coin is a digital currency regulated by the UAE Central Bank and maintains a 1:1 peg with the can now pay for a wide range of judicial services using AE Coin through the AEC Wallet. This offers a secure, fast, and fully digital alternative to traditional payment to information provided by Al Maryah Bank, the AEC Wallet is a digital application that allows users to convert, hold, transfer, receive, and pay using dirham-denominated stablecoins. Specifically, it enables users to convert their dirham balance into AE Coin, transfer AE Coin to other wallet holders, make payments to merchants, and redeem AE Coin back to dirham directly into linked bank accounts. The wallet supports both P2P (person-to-person) and P2B (person-to-business) payments, and is available on Android, Apple, and Huawei app of the Abu Dhabi Judicial Department, Counsellor Yousef Saeed Al Abri, said in a press release distributed by Zawya that the agreement forms part of the department's wider development strategy. He emphasised that the move aligns with the vision of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of ADJD, to build a modern and innovative judicial system that embraces rapid digital transformation to ensure swift justice.'This partnership reflects our commitment to continuously modernise the judicial ecosystem and legal services. By diversifying smart payment options and embracing digital currency, we are supporting institutional cooperation and integrating the judicial and financial sectors through advanced technology,' Al Abri Chairman of Al Maryah Bank, Omar Al Zaabi, commented, 'This partnership embodies our mission to foster banking innovation and reinforce the UAE's leadership in digital financial services. By enabling judicial payments via AE Coin, we are not only streamlining access to government services but also setting a benchmark for how technology can serve the public good in a secure and future-ready manner.'Board Member of Al Maryah Bank, Obaid Al Kaabi, added, 'We are proud to be part of this transformative achievement that enhances trust, transparency, and accessibility in public services. Integrating AE Coin within a major institution like ADJD underscores our commitment to accelerating digital transformation and contributing to a more inclusive financial future.'CEO of Al Maryah Bank, Mohammed Wassim Khayata, remarked, 'We take pride in supporting the Abu Dhabi Judicial Department in realising this forward-looking initiative. It's not merely a technological step; it's about delivering advanced, secure financial experiences that reflect the UAE's values and future vision.'Ramez Rafeek, General Manager of IED Stablecoin—the firm behind AE Coin—stated, 'AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE. Its adoption, by such a prominent government entity, marks a pivotal moment for us and the region's evolving digital finance landscape.'In May, Air Arabia has partnered with Al Maryah Bank to enable AE Coin payments for flight bookings through the AEC Wallet June, Tawasul Transport announced that all taxis operated by the company would accept AE Coin payments via the AEC Wallet, further broadening the use of the digital currency in public services. Meanwhile, the Central Bank of the UAE (CBUAE) is actively working on launching a Central Bank Digital Currency (CBDC) pegged to the dirham. Abu Dhabi's leading financial entities—ADQ, International Holding Company (IHC), and First Abu Dhabi Bank (FAB)—have also announced plans to launch dirham-linked stablecoins under CBUAE's regulatory oversight. As of now, AE Coin appears to be the only dirham-pegged stablecoin currently in operation in the UAE market.
UAE Moments
2 days ago
- Business
- UAE Moments
Abu Dhabi Now Accepts Digital Currency for Court Fee Payments
Abu Dhabi has officially embraced digital currency for court fee payments, making it the first government department in the Middle East to do so. The Abu Dhabi Judicial Department (ADJD) has partnered with Al Maryah Bank to allow residents to pay legal and judicial service fees using AE Coin, a UAE-regulated stablecoin. The move is part of a broader digital transformation strategy, aiming to streamline financial transactions and offer residents a secure, instant, and fully digital alternative to traditional payment methods. Payments will be processed through the AEC Wallet, giving users a fast and future-focused way to handle court-related expenses. Counsellor Yousef Saeed Al Abri, Undersecretary of ADJD, said the initiative falls in line with the department's wider development strategy, aimed at enhancing access and efficiency in legal services. Mohammed Wassim Khayata, CEO of Al Maryah Bank, emphasized the broader significance: 'It's not merely a technological step; it's about delivering advanced, secure financial experiences that reflect the UAE's values and future vision.' Ramez Rafiq, General Manager of IED Stablecoin—the company behind AE Coin—also praised the development. 'AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE,' he said. 'Its adoption by such a prominent government entity marks a pivotal moment for us and the region's evolving digital finance landscape.' This move sets a regional benchmark for how blockchain and stablecoin payments can be successfully integrated into government operations—starting with the courtroom.
Zawya
2 days ago
- Business
- Zawya
Abu Dhabi Judiciary adopts digital currency for judicial fees in landmark partnership with Al Maryah Bank
In a pioneering move for the region, the Abu Dhabi Judicial Department (ADJD) has signed a strategic partnership agreement with local financial institution Al Maryah Bank to introduce the use of digital currency for the payment of judicial and legal service fees. This marks a significant leap toward digitising government services and enhancing user experience through innovative financial solutions. Under the agreement, ADJD becomes the first government entity in the Middle East to officially accept the AE Coin as a digital payment method for court-related transactions. The initiative is a milestone in the UAE's journey toward a fully integrated digital economy and sets the stage for a new era in digital government payments. Commenting on the development, His Excellency Counsellor Yousef Saeed Al Abri, Undersecretary of the Abu Dhabi Judicial Department, stated that the agreement forms part of the department's broader development strategy. He emphasised that the move aligns with the vision of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chairman of the Presidential Court, Chairman of ADJD, to build a modern and innovative judicial system that embraces rapid digital transformation to ensure swift justice and enhance Abu Dhabi's global competitiveness. 'This partnership reflects our commitment to continuously modernise the judicial ecosystem and legal services. By diversifying smart payment options and embracing digital currency, we are supporting institutional cooperation and integrating the judicial and financial sectors through advanced technology,' said H.E. Al Abri. He added that the department is keen on building strategic partnerships with leading banking institutions to maximise the use of digital capabilities and fintech innovations in support of ADJD's vision for a progressive and responsive legal environment. From the banking sector's side, Omar Al Zaabi, Vice Chairman of Al Maryah Bank, commented: 'This partnership embodies our mission to foster banking innovation and reinforce the UAE's leadership in digital financial services. By enabling judicial payments via AE Coin, we are not only streamlining access to government services but also setting a benchmark for how technology can serve the public good in a secure and future-ready manner.' Obaid Al Kaabi, Board Member of Al Maryah Bank, added: 'We are proud to be part of this transformative achievement that enhances trust, transparency, and accessibility in public services. Integrating AE Coin within a major institution like ADJD underscores our commitment to accelerating digital transformation and contributing to a more inclusive financial future.' Mohammed Wassim Khayata, CEO of Al Maryah Bank, remarked: 'We take pride in supporting the Abu Dhabi Judicial Department in realising this forward-looking initiative. It's not merely a technological step; it's about delivering advanced, secure financial experiences that reflect the UAE's values and future vision.' Ramez Rafiq, General Manager of IED Stablecoin—the firm behind AE Coin—stated: 'AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE. Its adoption by such a prominent government entity marks a pivotal moment for us and the region's evolving digital finance landscape. This collaboration reflects the leadership's trust in homegrown innovation and strengthens AE Coin's role in building the country's financial digital infrastructure.' The implementation of AE Coin in judicial payments sets a regional precedent for integrating digital currencies into government services. It reinforces the UAE's position at the forefront of public-sector financial innovation and paves the way for AE Coin to be adopted across other government platforms and institutions, enabling faster, simpler, and more transparent services for citizens, residents, and businesses. With this partnership now in effect, users can pay for a wide range of judicial services using AE Coin—a stablecoin regulated by the UAE Central Bank—via the AEC Wallet. This solution offers a secure, fully digital, and rapid alternative to traditional payment methods, significantly improving service accessibility and operational efficiency in the justice sector.
Khaleej Times
2 days ago
- Business
- Khaleej Times
Abu Dhabi introduces digital currency payments for court fees
Abu Dhabi residents can now pay court-related fees in digital currency as the Abu Dhabi Judicial Department (ADJD) becomes the first government entity in the Middle East to officially accept the AE Coin for judicial and legal service fees. This comes under a strategic partnership agreement signed with local financial institution Al Maryah Bank. With this partnership now in effect, users can pay for a wide range of judicial services using AE Coin — a stablecoin regulated by the UAE Central Bank — via the AEC Wallet. This solution offers a secure, fully digital, and rapid alternative to traditional payment methods. The implementation of AE Coin in judicial payments sets a regional precedent for integrating digital currencies into government services. Counsellor Yousef Saeed Al Abri, Undersecretary of the Abu Dhabi Judicial Department, stated that the agreement forms part of the department's broader development strategy. Mohammed Wassim Khayata, CEO of Al Maryah Bank, said 'It's not merely a technological step; it's about delivering advanced, secure financial experiences that reflect the UAE's values and future vision.' Ramez Rafiq, General Manager of IED Stablecoin — the firm behind AE Coin — said, 'AE Coin was developed to be a secure, efficient, and regulatory-compliant digital payment solution tailored for the UAE. Its adoption by such a prominent government entity marks a pivotal moment for us and the region's evolving digital finance landscape'.
