Sunday, November 18, 2012

Emirates ID card to open bank account

The Emirates Identity Authority (Eida) has tied up with a local bank to experiment the use of ID cards in banking transactions.

According to a report in the Arabic daily ‘Emarat Al Youm’, the authority helped a client open an account with a local bank.

The transaction was quicker by at least 20 minutes, said Dr Ali Mohammed Al Khouri, General-Director, Eida.
The bank staff was able to quickly download all necessary client information from his ID card, thereby saving time. The process is also safer and more accurate, he added.

It is now up to the UAE Central Bank and individual banks to decide how to use ID cards to enhance their services, he said.

Dr Al Khouri said ID cards could also be used to deposit and withdraw money in future.

At present, Eida is also in the process of linking up with all government institutions.