MoFAIC Launches a New System to Rationalise Attestation Services in the Business and Trade Sectors
MoFAIC Launches a New System to Rationalise Attestation Services in the Business and Trade Sectors

MoFAIC Launches a New System to Rationalise Attestation Services in the Business and Trade Sectors

19 may, 20221 minute to read
Follow [Durov's // Code] on Telegram

The UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC), in cooperation with several government agencies, has launched a new integrated digital system designed to improve customer service and facilitate doing business.

The implementation of the new system will take place in two phases. In the first phase, all services will be digitised. The UAE Ministry of Foreign Affairs, in partnership with the Ministry of Finance, the Ministry of Industry and Advanced Technologies (MoIAT), the Central Bank of the United Arab Emirates (CBUAE), the Federal Customs Authority and local customs administrations will work to redesign the attestation services provided to customers, especially entrepreneurs and companies. The next phase will expand the use of online attestation services, improve ease of access and timeliness of services.

The UAE Ministry of Finance has engaged clients to streamline their operations and ensure a seamless online attestation process.

The move is also in line with the Ministry's Memorandum of Understanding (MoU) with MoIAT, under which MoFAIC will verify, using MoIAT's e-services platform, attestations and related fees paid by investors in the industrial sector.

The MoU serves to rationalise MoFAIC services to further demonstrate the UAE's favourable investment environment.

The new system will also help regulate certain trade-related banking procedures through cooperation between MoFAIC and UAE banks under an agreement with CBUAE aimed at improving the quality of these services and implementing relevant solutions.

19 may, 2022
Follow [Durov's // Code] on Telegram