The UAE has launched Shary, a new digital escrow service designed to streamline and secure vehicle ownership transfers. The platform is the result of a major partnership between SlashData, an AI digital solutions provider, and the Integrated Transport Centre (ITC), an affiliate of the Department of Municipalities and Transport (DMT).
This government-backed initiative also involves close cooperation with TAMM, the Abu Dhabi Government Services Platform, and the Abu Dhabi Police.
A Secure Digital Handover
Shary provides a single, unified digital platform for individuals to manage the entire vehicle resale process, from payment to the final title transfer. The service is designed to significantly reduce risk and improve confidence in the UAE’s used car market.
At the core of the service is a digital escrow account that holds the buyer’s funds securely until both the buyer and seller confirm the transaction is complete. This integration with ITC, TAMM, and Abu Dhabi Police enables a fully automated and paperless process, complete with real-time tracking and instant notifications for all parties involved.
A Collaborative Public-Private Initiative
The platform represents a shared vision between government bodies and private tech firms to create a trusted digital ecosystem for residents.
Thamer Alfallaj, CEO of SlashData, commented on the collaboration, stating, “This achievement is the result of a shared vision and constructive collaboration with our partners at the Integrated Transport Centre, TAMM, and Abu Dhabi Police. Together, we have built a trusted digital ecosystem that brings transparency, security, and simplicity to one of the most important everyday transactions.”
Dr. Abdulla Hamad AlGhfeli, Acting Director General of the Integrated Transport Centre, added, “We have developed a legislative and regulatory framework that enables vehicle ownership transfers to be carried out safely and reliably, in cooperation with Abu Dhabi Police and our partners at SlashData and TAMM.”
About Shary
Shary is a digital escrow platform for vehicle ownership transfers within the UAE’s federal licensing system. Launched through a partnership between SlashData, the Integrated Transport Centre (ITC), TAMM, and Abu Dhabi Police, the service allows users to securely complete vehicle resale transactions digitally. It aims to bring greater transparency, security, and efficiency to the country’s used car market.
Source: Fintech News AE
