Latest news with #AbdullaAlBasti
Hi Dubai
6 days ago
- Politics
- Hi Dubai
Dubai Youth Lab Unites Young Innovators with Leaders to Shape Future Policies
Dubai Youth Council, in collaboration with the Knowledge and Human Development Authority Youth Council, marked International Youth Day with the 'Dubai Youth Lab,' bringing together over 60 young professionals and senior government leaders to co-create solutions for national priorities. Held at The Executive Council's General Secretariat, the event simulated real government decision-making, enabling youth to analyse pressing challenges and propose actionable strategies. Key figures including Dr. Sultan Al Neyadi, Minister of State for Youth Affairs, and Abdulla Al Basti, Secretary General of The Executive Council of Dubai, emphasised the leadership's commitment to empowering youth as vital partners in the nation's development. Participants worked in groups on critical topics such as education reform, mental health, and employment, presenting proposals to a panel of experts. These ideas will be documented and reviewed by relevant authorities to shape future policies and initiatives. Officials highlighted the Lab as a dynamic platform for youth engagement, blending innovation, leadership training, and policy development to ensure Dubai's continued growth through the energy and creativity of its young population. News Source: Emirates News Agency
Finextra
13-05-2025
- Business
- Finextra
Government of Dubai to allow crypto payments for services
Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with a globally recognised cryptocurrency trading platform, to facilitate government service fee payments using cryptocurrencies—marking a pioneering milestone in digital finance on a global scale. 0 The MoU was officially signed today in the presence of His Excellency Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai, and His Excellency Abdulrahman Saleh Al Saleh, Director General of DOF. The agreement was formalised by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakeem, Head of Operations at UAE, the cryptocurrency platform licensed by the Dubai's Virtual Assets Regulatory Authority (VARA). The signing took place on the sidelines of DOF and participation in the Dubai FinTech Summit, which commenced today at the Dubai International Financial Centre, marking a pivotal step in advancing Dubai's digital finance landscape. The partnership will accelerate the implementation of the Dubai Cashless Strategy. Designed to foster secure, efficient, and inclusive financial transactions through cryptocurrencies, it paves the way for Dubai's transition to a fully digital, cashless society by empowering the Government of Dubai to harness financial technology in launching a new digital payment channel on the government's digital portals. This innovation will enable seamless, secure, and forward-thinking payments for government services using stable cryptocurrencies, reinforcing Dubai's position as a global leader in financial innovation. His Excellency Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai, affirmed that adopting secure cryptocurrency solutions within the Government of Dubai's payment system reflects a proactive approach to anticipating future needs and responding to global economic and financial developments. He said: 'Dubai continues to advance through coordinated efforts across government entities and key sectors to meet and exceed the expectations of individuals, businesses, and the wider community. As a global leader in digital transformation, the emirate is further strengthening its position by deploying the latest secure financial technology solutions that support its cashless strategy, streamline government transactions, and foster innovation in financial services. I extend my sincere appreciation to the Department of Finance for enabling new global partnerships that support the objectives of the Dubai Economic Agenda D33 and reinforce Dubai's status as a global hub for innovation.' His Excellency Abdulrahman Saleh Al Saleh stated: 'We take great pride in Dubai Finance's pivotal role in driving the Dubai Cashless Strategy and shaping a distinctive digital financial future. As we stand at the forefront of a transformative financial revolution, we underscore the significance of the MoU with in accelerating the strategy's objectives—aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to elevate Dubai's global standing in digital payments. We remain committed to collaborating with our partners across government entities and leading financial service providers to advance the digital payment ecosystem and develop innovative solutions that support the rapidly evolving digital economy.' 'The Government of Dubai has been a true global visionary with its plans for a cashless society,' said Eric Anziani, President and COO of 'We are proud to be selected to support Dubai's Department of Finance as part of this initiative, which sees enable the delivery of the first comprehensive and holistic Government-wide implementation of payment digitisation. We are excited to bring our capabilities and innovative thinking to catalyse this progress and we recognise the exceptional vision of Dubai's leadership in shaping the future of economic growth with ambitious programmes such as these.' Ahmad Ali Meftah reaffirmed Dubai Finance's commitment to embracing the latest financial technologies, underscoring Dubai's ambitious vision to position itself as a global hub for digital payments. He stated: 'Collaboration between the public and private sectors plays a vital role in driving this transformation. We are actively developing an advanced regulatory framework that fosters innovation while ensuring the highest standards of security and efficiency in digital financial transactions. This enhances customer trust in Dubai Government services and unlocks new opportunities for economic growth. Through strategic partnerships, we remain dedicated to establishing a sustainable financial model that empowers individuals and businesses, cementing Dubai's leadership in financial technology and keeping it at the forefront of global innovation and economic progress.' 'Today's announcement represents significant progress for the adoption of digital finance with a comprehensive integration into the layers of government payments' said Mohammed Al Hakim, President of UAE, 'As part of the ambitious D33 agenda, we are honoured to partner with Dubai Finance on a truly global first programme, as the emirate aims to transform Dubai's economic growth with the Dubai Cashless Strategy, leading the way in shaping the future of sustainable economic diversification.' Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, stated: 'The Dubai Cashless Strategy aims to solidify the emirate's position among the world's leading digital cities, with a goal of conducting more than 90% of financial transactions across both the public and private sectors through cashless methods by 2026. The signing of this agreement with a globally renowned cryptocurrency platform marks a groundbreaking initiative, enabling government service users to pay all government fees through digital currencies—an unprecedented step in the global financial landscape. We are confident that this milestone will significantly accelerate the advancement of the Dubai Cashless Strategy.' The strategy is expected to drive economic growth by adding at least AED 8 billion annually to the economy, fueled by the development of a wide range of innovative financial technology services and the accelerated expansion of Dubai's fintech sector. Once the necessary technical arrangements for the agreement's activation are finalised, individuals and businesses customers of government entities will be able to pay service fees seamlessly through digital wallets. The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework.
Gulf Business
13-05-2025
- Business
- Gulf Business
From Dirhams to digital: Dubai lets you pay government fees in crypto
Image credit: WAM/Website Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with a globally recognised cryptocurrency trading platform. This partnership aims to enable the payment of government service fees using cryptocurrencies—marking a significant step in advancing digital finance on a global scale, Signing of the Memorandum of Understanding The MoU was signed in the presence of Abdulla Mohammed Al Basti, Secretary-General of The Executive Council of Dubai, and Abdulrahman Saleh Al Saleh, Director-General of DOF. Read- The agreement was formalised by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakim, President of UAE. is licensed by Dubai's Virtual Assets Regulatory Authority (VARA). The signing took place on the sidelines of DOF and participation in the Dubai FinTech Summit, which opened today at the Dubai International Financial Centre. The agreement represents a key milestone in Dubai's digital finance journey. Supporting the Dubai Cashless Strategy The partnership supports the implementation of the Dubai Cashless Strategy by enabling secure, efficient, and inclusive financial transactions through cryptocurrencies. It paves the way for Dubai's transition to a fully digital, cashless society, empowering the Government of Dubai to introduce a new digital payment channel across official platforms. This initiative will enable seamless and secure payments for government services using stable cryptocurrencies, further strengthening Dubai's position as a global hub for financial innovation. Abdulla Mohammed Al Basti stated that adopting secure cryptocurrency solutions within government payment systems reflects a proactive approach to addressing future needs and responding to global economic shifts. 'Dubai continues to advance through coordinated efforts across government entities and key sectors to meet and exceed the expectations of individuals, businesses, and the wider community. As a global leader in digital transformation, the emirate is further solidifying its status by deploying secure financial technology solutions that support its cashless strategy, streamline government transactions, and foster innovation in financial services,' Al Basti added. Strategic financial innovation Abdulrahman Saleh Al Saleh emphasised DOF's commitment to driving the Cashless Strategy and supporting Dubai's digital financial future. 'The MoU with is pivotal in accelerating the strategy's objectives—aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance Dubai's global standing in digital payments. We will continue collaborating with government entities and leading financial service providers to develop innovative solutions that support the digital economy,' he said. Dubai's vision for a cashless society Eric Anziani, President and COO of praised the Dubai Government's vision: 'We are honoured to support Dubai's Department of Finance in implementing the first comprehensive, government-wide digitisation of payments. Dubai's leadership continues to set a global benchmark for economic innovation through initiatives like these.' Ahmad Ali Meftah reaffirmed DOF's commitment to adopting cutting-edge financial technologies to realise Dubai's ambition of becoming a global digital payments hub. Driving economic transformation 'Public-private collaboration is key to this transformation. We are actively building a regulatory framework that balances innovation with the highest standards of security and efficiency. This boosts public trust in government services and unlocks new avenues for economic growth,' Meftah noted. Mohammed Al Hakim, President of UAE, added: 'This partnership represents a significant leap forward for digital finance, integrating cryptocurrency into government payment systems. As part of the D33 agenda, we're honoured to support Dubai's efforts to transform its economic model and lead the way in sustainable digital diversification.' Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, said: 'The Dubai Cashless Strategy targets conducting over 90 per cent of all financial transactions through cashless methods by 2026. This agreement with a globally renowned cryptocurrency platform is groundbreaking—it allows government service users to pay fees via digital currencies, an unprecedented step in the global financial landscape.' Economic impact of the cashless strategy The Dubai Cashless Strategy is expected to contribute at least Dh8bn annually to the local economy. This will be driven by the expansion of innovative financial services and the growth of Dubai's fintech sector. Once technical arrangements are completed, individual and business users will be able to pay government service fees via digital wallets. Payments will be converted into Emirati dirhams and transferred to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment process.
Asharq Al-Awsat
13-05-2025
- Business
- Asharq Al-Awsat
Dubai to Allow Residents Pay Government Services Using Cryptocurrency
Dubai is preparing to allow residents to pay for government services using cryptocurrency, signaling the emirate's intent to support the Dubai Cashless Strategy. On Monday, Dubai's Department of Finance (DOF) signed a new memorandum of understanding (MoU) with global digital asset platform in the presence of Abdulla Al Basti, Secretary General of The Executive Council of Dubai, and Abdulrahman Al Saleh, Director General of DOF. The initiative, formalized during the Dubai FinTech Summit, will enable seamless and secure payments for government services using stable cryptocurrencies, further strengthening Dubai's position as a global hub for financial innovation. Al Basti said that adopting secure cryptocurrency solutions within the Government of Dubai's payment system reflects a proactive approach to anticipating future needs and responding to global economic and financial developments. 'We take great pride in Dubai Finance's pivotal role in driving the Dubai Cashless Strategy and shaping a distinctive digital financial future,' said Al Saleh. The Dubai Cashless Strategy aims to conduct more than 90% of financial transactions across both the public and private sectors through cashless methods by 2026. 'We underscore the significance of the MoU with in accelerating the strategy's objective,' Al Saleh said. President and COO of Eric Anziani said this initiative will enable the delivery of the first comprehensive and holistic Government-wide implementation of payment digitization. Once the necessary technical arrangements for the agreement's activation are finalized, individuals and businesses customers of government entities will be able to pay service fees seamlessly through digital wallets. The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework. The Dubai Cashless Strategy is expected to drive economic growth by adding at least 8 billion dirhams ($2.1 billion) annually to the economy, fueled by the development of a wide range of innovative financial technology services and the accelerated expansion of Dubai's fintech sector.
Finextra
13-05-2025
- Business
- Finextra
Government of Dubai to allow crypto payments for fees
Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with a globally recognised cryptocurrency trading platform, to facilitate government service fee payments using cryptocurrencies—marking a pioneering milestone in digital finance on a global scale. 1 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The MoU was officially signed today in the presence of His Excellency Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai, and His Excellency Abdulrahman Saleh Al Saleh, Director General of DOF. The agreement was formalised by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakeem, Head of Operations at UAE, the cryptocurrency platform licensed by the Dubai's Virtual Assets Regulatory Authority (VARA). The signing took place on the sidelines of DOF and participation in the Dubai FinTech Summit, which commenced today at the Dubai International Financial Centre, marking a pivotal step in advancing Dubai's digital finance landscape. The partnership will accelerate the implementation of the Dubai Cashless Strategy. Designed to foster secure, efficient, and inclusive financial transactions through cryptocurrencies, it paves the way for Dubai's transition to a fully digital, cashless society by empowering the Government of Dubai to harness financial technology in launching a new digital payment channel on the government's digital portals. This innovation will enable seamless, secure, and forward-thinking payments for government services using stable cryptocurrencies, reinforcing Dubai's position as a global leader in financial innovation. His Excellency Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai, affirmed that adopting secure cryptocurrency solutions within the Government of Dubai's payment system reflects a proactive approach to anticipating future needs and responding to global economic and financial developments. He said: 'Dubai continues to advance through coordinated efforts across government entities and key sectors to meet and exceed the expectations of individuals, businesses, and the wider community. As a global leader in digital transformation, the emirate is further strengthening its position by deploying the latest secure financial technology solutions that support its cashless strategy, streamline government transactions, and foster innovation in financial services. I extend my sincere appreciation to the Department of Finance for enabling new global partnerships that support the objectives of the Dubai Economic Agenda D33 and reinforce Dubai's status as a global hub for innovation.' His Excellency Abdulrahman Saleh Al Saleh stated: 'We take great pride in Dubai Finance's pivotal role in driving the Dubai Cashless Strategy and shaping a distinctive digital financial future. As we stand at the forefront of a transformative financial revolution, we underscore the significance of the MoU with in accelerating the strategy's objectives—aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to elevate Dubai's global standing in digital payments. We remain committed to collaborating with our partners across government entities and leading financial service providers to advance the digital payment ecosystem and develop innovative solutions that support the rapidly evolving digital economy.' 'The Government of Dubai has been a true global visionary with its plans for a cashless society,' said Eric Anziani, President and COO of 'We are proud to be selected to support Dubai's Department of Finance as part of this initiative, which sees enable the delivery of the first comprehensive and holistic Government-wide implementation of payment digitisation. We are excited to bring our capabilities and innovative thinking to catalyse this progress and we recognise the exceptional vision of Dubai's leadership in shaping the future of economic growth with ambitious programmes such as these.' Ahmad Ali Meftah reaffirmed Dubai Finance's commitment to embracing the latest financial technologies, underscoring Dubai's ambitious vision to position itself as a global hub for digital payments. He stated: 'Collaboration between the public and private sectors plays a vital role in driving this transformation. We are actively developing an advanced regulatory framework that fosters innovation while ensuring the highest standards of security and efficiency in digital financial transactions. This enhances customer trust in Dubai Government services and unlocks new opportunities for economic growth. Through strategic partnerships, we remain dedicated to establishing a sustainable financial model that empowers individuals and businesses, cementing Dubai's leadership in financial technology and keeping it at the forefront of global innovation and economic progress.' 'Today's announcement represents significant progress for the adoption of digital finance with a comprehensive integration into the layers of government payments' said Mohammed Al Hakim, President of UAE, 'As part of the ambitious D33 agenda, we are honoured to partner with Dubai Finance on a truly global first programme, as the emirate aims to transform Dubai's economic growth with the Dubai Cashless Strategy, leading the way in shaping the future of sustainable economic diversification.' Amna Mohammed Lootah, Director of Digital Payment Systems Regulation, stated: 'The Dubai Cashless Strategy aims to solidify the emirate's position among the world's leading digital cities, with a goal of conducting more than 90% of financial transactions across both the public and private sectors through cashless methods by 2026. The signing of this agreement with a globally renowned cryptocurrency platform marks a groundbreaking initiative, enabling government service users to pay all government fees through digital currencies—an unprecedented step in the global financial landscape. We are confident that this milestone will significantly accelerate the advancement of the Dubai Cashless Strategy.' The strategy is expected to drive economic growth by adding at least AED 8 billion annually to the economy, fueled by the development of a wide range of innovative financial technology services and the accelerated expansion of Dubai's fintech sector. Once the necessary technical arrangements for the agreement's activation are finalised, individuals and businesses customers of government entities will be able to pay service fees seamlessly through digital wallets. The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework.
