Amman, Nov. 2 (Petra) -- The Jordan Free and Development Zones Group signed a cooperation agreement with eDamana Digital Software Development Co. to provide a secure electronic payment system for vehicle sales and purchases in the Zarqa Free Zone. The system aims to build trust and transparency and protect the rights of all parties to a transaction.
Under the agreement, the group will let eDamana link electronically to its systems to query and verify vehicle data. The link lets eDamana tie payments and money transfers to vehicle data and transaction conditions, giving traders, investors and buyers a more secure and reliable process.
Director General of Free Zones Abdul Hamid Gharaibeh stressed in a statement Monday that the deal matches the group’s push to improve services for investors and clients and to use digital technology to ease commercial and financial procedures.
He added that the partnership upgrades services in the Zarqa Free Zone, strengthens its competitiveness and cements its status as a main hub for vehicle trade.
eDamana CEO Raed Al Dado underscored that the agreement is a strategic step to extend the company’s services to vehicle trade in free zones. He said the electronic link will strengthen the company’s ability to offer integrated digital financial guarantee solutions.
Those solutions protect the rights of sellers and buyers, reduce risks in financial dealings and make trading safer and smoother.
eDamana is a Jordanian platform specializing in digital financial guarantee and conditional digital settlement solutions. It works with the Jordanian banking sector and government systems, including the Driver and Vehicle Licensing Department, the Sanad digital identity system and the eFAWATEERcom system, under the Central Bank of Jordan’s regulatory environment.
The platform processes sales and purchases through bank escrow accounts, where the bank holds funds until the parties meet and verify the transaction conditions.
The agreement is part of the group’s efforts to build strategic partnerships with the private sector and adopt innovative technical and financial solutions in Jordan’s free zones.
//Petra// NQ
