Arabella was recently recognised with a gold medal at the first edition of the Sheikh Hamdan bin Zayed Environmental Awards
A new domestic payment card has been launched in the UAE. Called Jaywan and built on India’s digital RuPay credit and debit card stack, it was introduced by President Sheikh Mohamed and Indian Prime Minister Narendra Modi on Tuesday.
In a video, the Sheikh Mohamed is seen being presented with a personalised card and using it to make a transaction.
The launch follows the inking of several bilateral agreements between the two countries on Tuesday, including the interlinking of instant payment platforms.
Watch the video below:
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
The RuPay card is the Indian equivalent of Mastercard or Visa. Billed as a highly secure indigenous system, it is widely accepted across India with more than 750 million cards reportedly in circulation.
Explaining the benefits of the partnership last year, India's Minister of Commerce and Industry Piyush Goyal spoke of how the interlinked domestic card system would reduce exchange risks and boost travel between the two countries. UAE cards can be used in India, while RuPay cards issued in India can be used in the Emirates. What’s more, all transactions will be carried out in local currencies.
Some of the other bilateral agreements announced include the interlinking of India's UPI and UAE's 'Aani' payment systems to facilitate seamless cross-border transactions between the two countries. Aani includes a convenient feature that allows users to transfer money immediately using only the recipient's phone number. (See here for more details.)
The leaders also discussed the strengthening of energy partnerships. They appreciated that, in addition to the UAE being among the largest sources of crude and LPG, India is now entering into long-term contracts for LNG.
PM Modi is in town on a two-day visit ahead of the opening of the BAPS Hindu Mandir temple in Abu Dhabi on February 14.
ALSO READ:
Arabella was recently recognised with a gold medal at the first edition of the Sheikh Hamdan bin Zayed Environmental Awards
Post the Covid pandemic, the Emirates has emerged as one of the most popular spots for destination weddings
It bears the name 'Dubai' in Arabic and dates back to the 1960s
The quake occurred at 3.03am local time
Food supplies were distributed to 80 households
Specialised teams are currently managing the situation by cleaning up and removing the dead fish
The charges against them include planning terrorist acts, fundraising for the Organisation, and concealing the source and destination of those funds
In the video shared by the Abu Dhabi Police, speeding cars are seen crashing into vehicles as traffic builds up unexpectedly