Latest news with #AbdulrahmanAlSaleh
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.
