Dubai Electricity and Water Authority (DEWA) has signed a memorandum of understanding with Emirates NBD to implement a Virtual Account IBAN solution. Emirates News Agency reported the agreement on 22 October, saying it was signed during the 28 th WETEX exhibition without specifying a separate signing day.

The proposed arrangement assigns virtual account numbers to customers, entities or payment channels so that incoming payments can be identified, allocated and reconciled automatically. The stated scope includes settlement, monitoring, reporting and audit controls in billing services.

DEWA says the system is intended to reduce manual matching and payment tracking. The report does not provide a completed deployment date, measured time savings or a financial value for the memorandum. It describes an implementation framework and expected operational benefits, rather than demonstrated savings.

The practical issue is matching a payment to the correct account or channel. Automating that step may simplify billing operations, but the announcement does not introduce a new electricity or water tariff, nor does it say customer payments have already migrated to the proposed system.