Latest news with #AbdullaMohammedAlBasti
Gulf Today
13-05-2025
- Business
- Gulf Today
Dubai Finance signs MoU with Crypto.com to enable cryptocurrency payments for government fees
Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with a globally recognised cryptocurrency trading platform, to enable the payment of government service fees using cryptocurrencies-an initiative that marks a significant step in advancing digital finance on a global scale. The MoU was signed on Monday 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. The agreement was formalised by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakim, President of 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, representing a key step in advancing Dubai's digital finance landscape. The partnership supports the implementation of the Dubai Cashless Strategy by enabling secure, efficient and inclusive financial transactions through cryptocurrencies. It also paves the way for Dubai's transition to a fully digital, cashless society by empowering the Government of Dubai to introduce a new digital payment channel across its official platforms. The 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, Secretary-General of The Executive Council of Dubai, 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. "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,' Al Basti said. Abdulrahman Saleh Al Saleh, Director-General of DOF, said, "We take great pride in Dubai Finance's key 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 enhance 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." Eric Anziani, President and COO of said, "The Government of Dubai has been a true global visionary with its plans for a cashless society. We are proud to be selected to support Dubai's Department of Finance as part of this initiative, which will see 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, Executive Director of the Central Accounts Sector at DOF, 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. "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,' he said. Mohammed Al Hakim, President of UAE, said, "Today's announcement represents significant progress for the adoption of digital finance with a comprehensive integration into the layers of government payments. 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, said, "The Dubai Cashless Strategy aims to strengthen the emirate's position among the world's leading digital cities, with a goal of conducting more than 90 per cent 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 Dubai Cashless Strategy is expected to drive economic growth by adding at least AED8 billion annually to the economy, fuelled 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. WAM
Gulf Insider
13-05-2025
- Business
- Gulf Insider
Dubai to Allow Crypto Payments for Government Services
Dubai will allow individuals and businesses to use cryptocurrency to pay for government services. Dubai Finance (DOF) has signed a Memorandum of Understanding (MoU) with a globally recognised cryptocurrency trading platform, to enable the payment of government service fees using cryptocurrencies. It marks a significant step in advancing digital finance on a global scale in the UAE. 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. The agreement was formalised by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Mohammed Al Hakim, President of 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 at the Dubai International Financial Centre, representing a key step in advancing Dubai's digital finance landscape. The partnership supports the implementation of the Dubai Cashless Strategy by enabling secure, efficient and inclusive financial transactions through cryptocurrencies. It also paves the way for Dubai's transition to a fully digital, cashless society by empowering the Government of Dubai to introduce a new digital payment channel across its official platforms. The 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, Secretary-General of The Executive Council of Dubai, 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. Al Basti 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'. Abdulrahman Saleh Al Saleh, Director-General of DOF, said: 'We take great pride in Dubai Finance's key 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 enhance 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.' Eric Anziani, President and COO of said: 'The Government of Dubai has been a true global visionary with its plans for a cashless society. We are proud to be selected to support Dubai's Department of Finance as part of this initiative, which will see 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, Executive Director of the Central Accounts Sector at DOF, 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 said: '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'. Mohammed Al Hakim, President of UAE, said: 'Today's announcement represents significant progress for the adoption of digital finance with a comprehensive integration into the layers of government payments. '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, said: 'The Dubai Cashless Strategy aims to strengthen the emirate's position among the world's leading digital cities, with a goal of conducting more than 90 percent 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 Dubai Cashless Strategy is expected to drive economic growth by adding at least AED8bn ($2.2bn) annually to the economy, fuelled 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. Also read: Bahrain's DANAT Showcases Pearl Heritage At Arabian Travel Market 2025 In Dubai
Fintech News ME
13-05-2025
- Business
- Fintech News ME
Dubai to Accept Cryptocurrency for Government Service Payments
Dubai's Department of Finance (DOF) has signed a MoU with to enable the payment of government service fees using digital currencies. The initiative marks a step forward in Dubai's move towards digital finance. The signing took place during the Dubai FinTech Summit at the Dubai International Financial Centre, where both DOF and are participating. This partnership supports the Dubai Cashless Strategy by introducing cryptocurrency as a digital payment option for government services. It is intended to enable secure and efficient financial transactions and support the transition towards a cashless society. The system will allow payments using stable digital currencies, with funds converted to Emirati dirhams and transferred to DOF accounts. Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai, stated, '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.' Eric Anziani, President and COO of said: 'We are proud to be selected to support Dubai's Department of Finance as part of this initiative, which will see enable the delivery of the first comprehensive and holistic Government-wide implementation of payment digitisation.' According to estimates, the Dubai Cashless Strategy is expected to contribute at least AED 8 billion annually to the local economy, through the growth of fintech services and the expansion of the sector. Once the technical systems are in place, individuals and businesses will be able to pay for government services using digital wallets. The platform will convert the digital payments into dirhams and transfer them to DOF accounts.
TECHx
12-05-2025
- Business
- TECHx
Dubai Launches Shared Digital Channels Under Digital Dubai
Home » Latest news » Dubai Launches Shared Digital Channels Under Digital Dubai Dubai has launched the Shared Digital Channels Initiative in collaboration with multiple government entities. This marks a major step towards a unified, user-centric digital government model under the leadership of Digital Dubai. The initiative aims to simplify access to government services for residents, businesses, and visitors. It offers seamless, integrated digital platforms that serve various sectors and needs. The launch took place in the presence of Abdulla Mohammed Al Basti, Secretary-General of The Executive Council of Dubai, and Hamad Obaid Al Mansoori, Director-General of Digital Dubai. This milestone follows the approval of the initiative in February 2025 by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. He is the Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai. The initiative provides government services through seven unified platforms: Dubai Now for individuals for individuals Invest in Dubai for businesses for businesses Visit Dubai for tourism for tourism Four other platforms covering transport, justice, construction, and trade Digital Dubai is leading the project. It aligns with the mandate to oversee shared digital channels and supports the city's digital strategy. It contributes to the goals of the 360 Services Policy, aiming for 100% unified, integrated digital platforms. Abdulla Mohammed Al Basti emphasized that the initiative is guided by the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum and H.H. Sheikh Hamdan. The focus is on proactive, future-ready service experiences. These efforts reinforce Dubai's global standing in digital service delivery. He said the initiative reflects the government's commitment to seamless digital services through round-the-clock, dedicated platforms. It also boosts Dubai's status as a tech-driven, innovation-first hub. Mattar Al Tayer, Director-General of the RTA, stated that digital channels are the primary means for customers to access services. The initiative supports platform unification, reducing the need for multiple service windows. He highlighted the Shared Mobility Channel. It provides access to all mobility services, public or private, through one interface. Public transport, shared mobility, and taxis served 747.1 million riders in 2024. Dubai now has 2.5 million registered vehicles and 39 million active nol cards. Helal Saeed Almarri, Director-General of the Dubai Department of Economy and Tourism, said the initiative is a strategic leap. It builds trust, saves time, and opens up opportunities for individuals and businesses alike. He noted the move is aligned with the Dubai Economic Agenda D33. The initiative supports systems that help businesses grow, simplify life for residents, and attract global talent. Hamad Obaid Al Mansoori of Digital Dubai said digital channels have been key to past achievements. He emphasized the need to move forward with bold, transformative initiatives using AI and advanced tech. He added that a well-defined roadmap is in place. It aims to simplify lives, enable economic growth, and push Dubai's digital ecosystem into its next phase. Marwan Ahmed bin Ghalita, Acting Director-General of Dubai Municipality, noted the initiative supports a future-ready city model. Integrated services and data exchange will enhance the user experience and boost efficiency. Prof. Saif Ghanem Al Suwaidi, Director-General of Dubai Courts, said that easy access to services is essential for quality of life. He called this step a clear expression of Dubai's forward-looking leadership. Sultan Ahmed bin Sulayem, CEO of DP World, said unified service channels boost economic activity. The logistics and trade channel will streamline commercial operations and support cross-border trade. He linked the initiative to the goals of Dubai Economic Agenda D33, which targets AED 25.6 trillion in external trade over the next decade. Approved by H.H. Sheikh Hamdan, the initiative is a milestone in building a future-ready digital ecosystem. It enhances life quality, attracts global enterprises, and fosters innovation in service delivery. It also aims to: Deliver personalised, proactive services through a unified customer profile Integrate public and private sector services via interoperable platforms Maintain high standards of cybersecurity and data governance The Shared Digital Channels Initiative will create smarter, seamless digital experiences. All Dubai government services will eventually be offered through these seven platforms, eliminating the need for multiple access points. Other goals include better operational efficiency, reduced redundancy, and sustainability through resource optimisation. Data insights will help anticipate trends and improve service delivery. This digital shift, under the Digital Dubai vision, is designed to simplify life and accelerate growth across all segments.
Hi Dubai
30-04-2025
- Business
- Hi Dubai
Dubai Launches Best Government Practices Series to Drive Innovation and Future-Readiness
Dubai kicked off the 2025 Government Best Practices Series today, uniting local and international leaders to accelerate innovation, service excellence, and future-readiness across its public sector. Organised by the General Secretariat of The Executive Council of Dubai, the event gathers experts and senior officials to share successful strategies in digital transformation, institutional learning, and agile governance. It showcases leading practices recognised by the Dubai Government Excellence Programme and the Hamdan bin Mohammed Programme for Government Services. Abdulla Mohammed Al Basti, Secretary-General of The Executive Council, said the initiative reflects the leadership's vision of building a proactive and human-centred government. 'People remain at the centre of every policy, initiative, and service,' he noted, reaffirming Dubai's push for globally benchmarked public service standards. Day one featured sessions led by government entities including Dubai Police, RTA, Civil Defence, and Public Prosecution, focusing on AI-driven service delivery, innovation, and human capital development. The City Makers initiative led the main panel on collaborative service design, recognising standout efforts under the Executive Benchmarking Programme. Nine government initiatives were spotlighted, such as Dubai Customs' 'Advance Ruling,' Digital Dubai's 'City Tribe Ecosystem,' and DEWA's 'High Electricity Consumption Alerts'—highlighting a culture of data-driven and sustainable governance. The series continues Wednesday with sessions on smart government integration, institutional resilience, and AI leadership, featuring contributions from Dubai Municipality, Dubai Airports, and the Dubai Future Foundation. The closing panel, 'Partners in Leadership,' will underline the city's ongoing commitment to collaborative excellence, bringing together voices from Dubai Culture and the General Directorate of Identity and Foreigners Affairs. News Source: Emirates News Agency
