First Abu Dhabi Bank and ADSSA to provide social support payments on pre-paid cards
FAB and Abu Dhabi Social Support Authority sign MoU to provide pre-paid cards for financial aid payments
First Abu Dhabi Bank (FAB) and Abu Dhabi Social Support Authority (ADSSA) will collaborate to provide pre-paid payment cards for social support payments to limited-income Emirati families.
The two have signed an agreement, for FAB to develop APIs for the issuance of pre-paid cards and payment processing for the ADSSA’s financial aid program.
The pre-paid cards will enable users to withdraw cash and make purchases quickly and conveniently. Collectively, these services will form part of the Abu Dhabi Social Support Program.
The memorandum of understanding was signed by HE Hamad Ali Al Dhaheri, Director-General of the ADSSA and Ms Hana Al Rostamani, FAB’s Group Head of Personal Banking.
Hana Al Rostamani, FAB’s Group Head of Personal Banking said: “Using forward-looking payment technologies, we have created a unique API solution that will allow recipients to access funds quickly and efficiently. By the same token, this solution will ease the administrative load on the Abu Dhabi Social Support Authority and allow it to dedicate resources to other valuable causes.”
HE Hamad Al Dhaheri, Director-General of SSA said: “Abu Dhabi Social Support Authority is mandated with developing social support initiatives for limited income citizens across the emirate. This can be best fulfilled through partnerships with industry leaders, and we look forward to collaborating with FAB on the new initiative that will support users to access funds effortlessly. Our priority is to provide social support to UAE nationals in the most convenient way possible and FAB’s API solution will help achieve this goal.”
Abdulhamid Saeed, Group Chief Executive Officer at FAB, added: “FAB is always looking for opportunities to give back to the community and contribute to the UAE Government’s broader social and economic development objectives. We are delighted to act as a partner for the Abu Dhabi Social Support Programme, an important initiative that will improve the quality of life of Emirati families and make a vast contribution to the economic goals of our leadership.”