DUBAI: Dubai’s Roads and Transport Authority (RTA) will fully digitize its bank guarantee management process, cutting its paper usage by 100 percent, it announced on Saturday.
The government entity signed a deal with Dubai’s biggest bank, Emirates NBD, to migrate its transactions online using the bank’s Smart Guarantee Trade Finance Platform.
The platform enables end-to-end paperless handling of guarantees including viewing transaction details online, and making amendments, cancelations, extensions or claims, according to a statement.
“This initiative definitely goes in line with Dubai Government’s Paperless Strategy and RTA’s commitment to provide smart services and realize its strategic goal of Smart Dubai,” Yousef Al-Ridha, RTA’s chief executive office of corporate administrative support services sector.
The UAE has been pursuing environmentally friendly strategies in recent years, even applying them to government transactions.
