Abu Dhabi

The Arab Federation for Digital Economy affiliated to the Council of Arab Economic Unity in the League of Arab States held a coordination meeting with stakeholders at the local Al-Maria Bank, in the presence of Dr. Ayman Mukhtar Ghoneim, Assistant Secretary-General of the Arab Federation for Digital Economy, Mr. Muhammad Wasim Khayatah, CEO of the local Al-Maria Bank, and representatives of both sides.

The meeting included discussing the proposed means of cooperation on the Arab Food Market project and the mechanisms for benefiting from electronic payment gateways, electronic wallets and financial settlement systems.

The project aims to support the Arab food market to be an integrated digital platform through which advanced digital services are provided linking its various components, which include exporters (sellers), importers (buyers), as well as all suppliers of supportive services and services that include (transportation – logistics services – warehousing – Examination, testing and classification – issuance of certificates – financing and lending – insurance – customs clearance).

The Arab Food Market platform relies on smart execution mechanisms and advanced technologies such as blockchain, artificial intelligence and electronic encryption.

The Union delegation was briefed on the advanced and modern digital services provided by the Bank, which include fully digital solutions without human intervention, and are safe and reliable. The two parties agreed on the importance of joint cooperation between them.