Ministry Of Finance Partners With Tabby To Offer Flexible Payment Options For Government Fees And Fines

The Ministry of Finance (MoF) has introduced a new payment service in partnership with Tabby. This initiative allows customers to pay government service fees and fines in instalments using authorised channels, based on the "Buy Now, Pay Later" model. This collaboration is the first of its kind between the Ministry and Tabby, a company known for its financial and shopping services across the Middle East and North Africa.

Under this partnership, individuals dealing with federal entities can opt to pay in instalments. Tabby will initially cover the full amount of fees or fines to the respective government body. Customers will then repay Tabby according to pre-agreed terms. The Ministry has secured an optimal commission rate, which customers will incur only if they choose this payment method for federal fees and fines.

Saeed Rashid Al Yateem, Assistant Under-Secretary for Government Budget and Revenue Sector at MoF, highlighted that this partnership is part of ongoing efforts to integrate modern financial technologies. These efforts aim to enhance federal revenue management, improve customer satisfaction, and enable flexible and secure financial obligations to government entities.

Al Yateem stated, "This collaboration represents a paradigm shift in the ongoing modernisation of payment systems across federal entities. We are committed to adopting innovative solutions and strategic partnerships that contribute to building an integrated and sustainable financial infrastructure."

This initiative aligns with MoF's goal to broaden electronic payment options, boost financial inclusion, and support the UAE's digital transformation strategy. It covers all federal entities, offering more flexibility in managing financial commitments while enhancing transparency through pioneering digital initiatives.

Hosam Arab, Co-founder and CEO of Tabby, expressed enthusiasm about expanding services into the federal government sector. He remarked, "This partnership marks a significant step forward for Tabby as we continue expanding our services to include the federal government sector. Our mission has always been to provide customers with greater financial flexibility."

Building an Integrated Financial System

The collaboration aims to simplify procedures by connecting federal entities through a unified platform. This approach is expected to improve federal revenue management and strengthen integration within electronic financial services as part of an advanced digital system.

This step is part of MoF’s broader efforts to enhance electronic payment options across federal entities. It supports the UAE’s digital transformation goals by introducing innovative solutions that streamline processes and improve overall collection efficiency.

With inputs from WAM