Latest news with #AbdulrahmanAlSaleh
Gulf Business
17-07-2025
- Business
- Gulf Business
Dubai Chamber of Digital Economy, Dubai Finance partner to advance cashless strategy
Image: Getty Images Dubai Chamber of Digital Economy, operating under the umbrella of Dubai Chambers, has signed a Memorandum of Understanding (MoU) with Dubai Finance (DOF) to enhance collaboration and drive forward the Dubai Cashless Strategy. The agreement focuses on the strategy's three pillars: governance, innovation, and the shift towards a cashless society. The signing took place in the presence of H.E. Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. The MoU was signed by Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at Dubai Finance. H.E. Abdulrahman Saleh Al Saleh said: 'This MoU with the Dubai Chamber of Digital Economy represents an important step towards unifying efforts and strengthening partnerships among government entities to achieve the objectives of the Dubai Cashless Strategy. At Dubai Finance, we are committed to accelerating the transition towards a fully digital society by providing a flexible and secure financial environment that leverages innovative payment solutions in line with the emirate's ambitions and leadership vision. Our collaboration with the Dubai Chamber of Digital Economy reflects our shared commitment to supporting innovation, enhancing governance, and building a sustainable financial ecosystem that reinforces Dubai's position as one of the world's leading cities in adopting digital payments.' H.E. Mohammad Ali Rashed Lootah stated: 'We are committed to actively supporting the implementation of the Read: The agreement The MoU defines key areas of cooperation, including sharing knowledge and experience on cashless transformation in the financial sector, exchanging relevant data and analysis, and monitoring the outcomes of ongoing initiatives. Both parties will coordinate on leveraging emerging fintech solutions to support the transition to a cashless economy, aligning with the goals of the Dubai Cashless Strategy. Further, the agreement outlines joint efforts in raising awareness through campaigns and capacity-building programmes aimed at fostering trust in digital solutions and nurturing local talent across business sectors. The two organisations will form specialised working groups to promote innovation and the adoption of cashless practices in finance, with a focus on launching forward-looking initiatives. The scope of collaboration also includes joint efforts to educate stakeholders on the benefits of digital payments, promote government-backed applications and systems, and offer training initiatives to enhance private sector understanding and usage of digital tools. The two entities will work together on projects that encourage awareness, efficient programme execution, and sustainable development. Dubai Chamber of Digital Economy continues to play a critical role in positioning Dubai as a global digital economy hub. The chamber is dedicated to unlocking opportunities across digital sectors and supporting Dubai's transformation into a global leader in technology and innovation, in line with the goals of the Dubai Economic Agenda (D33).
Emirates 24/7
17-07-2025
- Business
- Emirates 24/7
Dubai Finance and Dubai Chamber of Digital Economy sign MoU to support implementation of Dubai Cashless Strategy
Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, has signed a Memorandum of Understanding (MoU) with Dubai Finance (DOF) aimed at strengthening cooperation to advance the implementation of the Dubai Cashless Strategy. The agreement focuses on the strategy's three key pillars of governance, innovation, and the transition towards a cashless society. The MoU was signed in the presence of H.E. Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. The agreement was signed by Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at Dubai Finance. His Excellency Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, said: 'This MoU with the Dubai Chamber of Digital Economy represents an important step towards unifying efforts and strengthening partnerships among government entities to achieve the objectives of the Dubai Cashless Strategy. At Dubai Finance, we are committed to accelerating the transition towards a fully digital society by providing a flexible and secure financial environment that leverages innovative payment solutions in line with the emirate's ambitions and leadership vision. Our collaboration with the Dubai Chamber of Digital Economy reflects our shared commitment to supporting innovation, enhancing governance, and building a sustainable financial ecosystem that reinforces Dubai's position as one of the world's leading cities in adopting digital payments.' H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated: 'We are committed to actively supporting the implementation of the Dubai Cashless Strategy by advancing the digital economy ecosystem and strengthening the competitiveness of Dubai's fintech sector. This aligns with our ongoing efforts to accelerate digital transformation across all business sectors, particularly financial services. Our partnership with Dubai Finance reflects our shared commitment to positioning Dubai as a global leader in shaping the future of digital payments.' The MoU outlines enhanced cooperation across several areas, including the exchange of knowledge and experience in the field of cashless transformation in the financial sector for businesses, the sharing of relevant data and analysis, and monitoring the results of cashless initiatives in the financial sector. The agreement also encompasses joint coordination to harness emerging fintech solutions in support of the transition to a cashless society, in line with the objectives of the Dubai Cashless Strategy. Under the terms of the MoU, the two parties will explore cooperation on launching awareness campaigns and capacity-building initiatives to increase trust in digital solutions and develop local talent in business sectors. In addition, specialised working groups will be jointly established to support innovation and cashless transformation in the financial sector, with the goal of developing forward-looking initiatives that accelerate the shift to a cashless society. These efforts will focus on delivering practical solutions that meet the needs of institutions and consumers while ensuring integration between national efforts and regional and international initiatives to enhance the UAE's competitiveness in the field of financial technology in the fintech space. The scope of cooperation also includes the development of joint efforts to raise awareness of the benefits of digital payments, promote the use of applications and systems available to government agencies, and enhance cooperation in the field of training and education in the field of cashless transformation in the financial sector to enable private sector users to better understand and utilise the available digital payment tools and applications. The two parties will also coordinate on implementing joint projects and initiatives in areas including awareness, effective programme delivery, and sustainable development. Dubai Chamber of Digital Economy plays a pivotal role in establishing Dubai as a global capital of the digital economy. The chamber is committed to unlocking the full potential of digital sectors and transforming Dubai into a global leader in technology and innovation in line with the objectives of the Dubai Economic Agenda (D33).
Gulf Business
18-05-2025
- Business
- Gulf Business
Dubai Finance, DIFC sign MoU to advance cashless strategy
Image: Dubai Media Office/ For illustrative purposes Dubai Finance (DOF) and the Dubai International Financial Centre (DIFC) have signed a memorandum of understanding (MoU) to support the implementation of the Dubai Cashless Strategy, focusing on the initiative's three core pillars: governance, innovation, and society. The agreement aims to enhance the exchange of information and expertise in financial digitalisation, leveraging DIFC's position as the region's leading financial innovation ecosystem. A key step in advancing the Dubai Cashless Strategy 'This agreement marks a significant milestone in advancing the Dubai Cashless Strategy and accelerating the shift towards a fully integrated digital financial future,' said Abdulrahman Saleh Al Saleh, DG of DOF. 'Guided by the vision and directives of our leadership, we are committed to positioning Dubai as a global financial hub. DIFC plays a central role in strengthening Dubai's standing among the world's leading financial centres, with its advanced regulatory framework and world-class infrastructure. In the presence of Ahmed bin Saeed, Dubai Finance signs a Memorandum of Understanding with the Dubai International Financial Centre to support the implementation of the Dubai Cashless Strategy. The agreement focuses on the strategy's three core pillars—governance, innovation, and… — Dubai Media Office (@DXBMediaOffice) Essa Kazim, governor of DIFC, added, 'This partnership with Dubai Finance supports the Dubai Cashless Strategy. At DIFC, we remain committed to fostering an enabling environment for fintech companies to thrive.' The agreement includes the organisation of specialised workshops to support best practices for a cashless economy and to facilitate the adoption of digital payment channels. It also encompasses collaboration with DIFC's Innovation Hub to explore AI-driven initiatives that benefit residents, tourists, and the wider community. Additionally, the MoU supports innovation programmes and accelerators aimed at developing advanced, accessible, and efficient digital financial solutions. Read:
Zawya
16-05-2025
- Business
- Zawya
Dubai Finance, DIFC sign strategic partnership to support Dubai Cashless Strategy
Dubai Finance (DOF) and the Dubai International Financial Centre (DIFC) have signed a Memorandum of Understanding (MoU) to support the implementation of the Dubai Cashless Strategy. The agreement focuses on the strategy's three core pillars: Governance, Innovation, and Society, while strengthening the exchange of information and expertise in financial digitalisation. DIFC's standing as the leading regional financial innovation ecosystem, which is home to the largest concentration of fintech companies and global financial institutions, positions it as a key partner in this initiative. The MoU signing ceremony, held in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee, was officiated by Abdulrahman Saleh Al Saleh, Director-General of DOF, and Essa Kazim, Governor of DIFC. The signing took place during Dubai Finance's participation in the Dubai FinTech Summit held earlier this week in Madinat Jumeirah, marking a pivotal step towards advancing Dubai's digital financial ecosystem. Abdulrahman Saleh Al Saleh stated, 'This agreement marks a significant milestone in advancing the Dubai Cashless Strategy and accelerating the shift towards a fully integrated digital financial future. Guided by the vision and directives of our leadership, we are committed to positioning Dubai as a global financial hub. DIFC plays a central role in strengthening Dubai's standing among the world's leading financial centres, with its advanced regulatory framework and world-class infrastructure. Through this partnership, we aim to expand government efforts to foster innovation in digital payments, creating a secure and adaptable financial ecosystem that meets the evolving needs of individuals and businesses while keeping pace with rapid economic transformations.' Essa Kazim stated, 'This partnership with Dubai Finance supports the Dubai Cashless Strategy. At DIFC, we remain committed to fostering an enabling environment for FinTech companies to thrive, embodying the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to transform Dubai into a global capital for the digital economy. This collaboration aims to enhance infrastructure and the digital ecosystem, contributing to the sustainable growth of financial innovation and supporting the future of the digital economy.' Under the agreement, specialised workshops will be organised to empower stakeholders in implementing best practices that support a cashless economy and accelerate the transition towards a digital society reliant on cashless payments. The collaboration will also explore opportunities with DIFC's Innovation Hub, aiming to integrate AI-driven initiatives that add value to workers, tourists, and the broader community by facilitating the adoption of digital payment channels. Additionally, the agreement includes support for innovation programmes and accelerators that contribute to the development of advanced, accessible, and highly efficient digital financial solutions.
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.
