The agreement between Al Maryah Community Bank and the Abu Dhabi Judicial Department has opened new possibilities for digital payments in the legal sector of the UAE. The first office to accept AE Coin is Mohammed Sultan Al-Naimi Advocates and Legal Consultations.
Partnership with Al Maryah Community Bank
Al Maryah Community Bank (MBank) and the Abu Dhabi Judicial Department (ADJD) have signed an agreement to introduce the digital currency AE Coin for payment of judicial services. This initiative allows for secure and efficient payments for legal services through the AEC Wallet. MBank is the UAE's first fully digital bank, providing the necessary infrastructure and regulatory framework for AE Coin transactions.
Comment from the Law Firm Founder
Mohammed Al Nuaimi, the founder of Mohammed Sultan Al-Naimi Advocates, stated, "We are proud as a forward-thinking legal firm to align with national efforts to digitalize services across sectors. Accepting AE Coin enables us to offer our clients a seamless, transparent, and locally compliant payment option, setting a new standard for legal practice in the region."
Introduction of AE Coin in Legal Practice
Following the agreement with ADJD, MBank noted that this partnership exemplifies how the banking and legal sectors can work together to drive innovation. MBank CEO Mohammed Wassim Khayata emphasized that the bank is working to embed blockchain-powered financial solutions into everyday services. Ramez Rafeek, general manager of AED stablecoin, mentioned that this initiative serves as a landmark example for wider acceptance of digital payments in the legal industry within the UAE.
The acceptance of AE Coin in the legal practice of the UAE highlights the growing implementation of digital technologies across various sectors, potentially leading to significant changes in the way legal services are offered in the region.
