Latest news with #AbdulrahmanSalehAlSaleh
Fintech News ME
18-07-2025
- Business
- Fintech News ME
Dubai Chamber of Digital Economy and Dubai Finance Partner on Cashless Strategy
The Dubai Chamber of Digital Economy and Dubai Finance (DOF) have signed a MoU to support the implementation of the Dubai Cashless Strategy. The agreement focuses on the strategy's three key areas: governance, innovation, and the transition towards a cashless society. '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,' said Abdulrahman Saleh Al Saleh, Director General of Dubai Finance. '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.' The MoU outlines cooperation in knowledge sharing, data exchange, and monitoring outcomes related to cashless initiatives. It also includes collaboration on emerging fintech solutions and the formation of working groups focused on innovation and transformation in the financial sector. Additional areas of cooperation include joint awareness campaigns, capacity-building initiatives, and training programmes to support digital payment adoption. The agreement also covers coordinated efforts to increase public understanding of digital tools and applications used by both government and the private sector. The Dubai Chamber of Digital Economy is part of Dubai Chambers and works to support the city's digital transformation in line with the Dubai Economic Agenda (D33).
Hi Dubai
17-07-2025
- Business
- Hi Dubai
Dubai Finance and Dubai Chamber of Digital Economy Partner to Advance Cashless Transformation Strategy
Dubai Finance (DOF) and the Dubai Chamber of Digital Economy have signed a Memorandum of Understanding (MoU) to support the implementation of the Dubai Cashless Strategy, which aims to position the emirate as a global leader in digital payments. The collaboration focuses on three key pillars: governance, innovation, and the transition to a cashless society. Signed in the presence of senior officials from both entities, the agreement outlines a framework for enhanced cooperation in developing a secure and innovative digital financial environment. The MoU will facilitate the exchange of knowledge, data analysis, and joint coordination to promote cashless transformation across Dubai's financial ecosystem. Key initiatives include: Harnessing fintech innovations to support the transition to cashless transactions. to support the transition to cashless transactions. Launching awareness campaigns and capacity-building programmes to increase public trust in digital solutions. and to increase public trust in digital solutions. Establishing specialised working groups to develop initiatives that drive innovation and support the evolving needs of institutions and consumers. The agreement also aims to integrate national, regional, and international cashless efforts to enhance the UAE's standing in global fintech development. It includes provisions for joint training, education, and programme delivery, helping both public and private sector stakeholders adopt and benefit from digital payment tools. H.E. Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, emphasised the importance of fostering a flexible, secure, and forward-looking financial ecosystem aligned with Dubai's leadership vision. H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, reaffirmed the Chamber's role in advancing the digital economy and fintech competitiveness through strategic public-private partnerships. This MoU strengthens Dubai's roadmap to becoming a cashless, innovation-driven economy, fully aligned with the Dubai Economic Agenda (D33) and broader national objectives to lead in digital transformation. News Source: Dubai Media Office
TECHx
17-07-2025
- Business
- TECHx
Dubai Chamber Signs MoU to Advance Cashless Strategy
Home » Emerging technologies » Fintech » Dubai Chamber Signs MoU to Advance Cashless Strategy Dubai Chamber of Digital Economy, operating under Dubai Chambers, has announced the signing of a Memorandum of Understanding (MoU) with Dubai Finance (DOF). The agreement aims to strengthen cooperation and support the implementation of the Dubai Cashless Strategy. The strategy is based on three key pillars: governance, innovation, and transitioning to 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. 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, signed the agreement. H.E. Abdulrahman Saleh Al Saleh stated that the MoU marks a major step in unifying efforts across government entities to drive the Dubai Cashless Strategy. He emphasized DOF's commitment to enabling a flexible, secure, and innovative financial environment that supports digital payments. H.E. Mohammad Ali Rashed Lootah reaffirmed Dubai Chambers' commitment to advancing the digital economy and supporting the fintech sector. He added that the partnership aligns with efforts to position Dubai as a global hub for digital payments. According to both parties, the agreement includes cooperation on various initiatives such as: Exchanging knowledge on cashless transformation in the financial sector Sharing data and monitoring results of digital payment initiatives Supporting fintech innovation and developing future-forward programs The MoU also covers awareness campaigns and training programs to increase trust in digital tools and foster local talent in the private sector. Specialised working groups will be formed to drive innovation and practical solutions tailored to institutional and consumer needs. Efforts will align with regional and international fintech developments to strengthen the UAE's global competitiveness. Both entities will promote the adoption of available systems by government agencies and jointly implement awareness and development initiatives. Dubai Chamber of Digital Economy continues to play a key role in transforming Dubai into a global capital of the digital economy. The chamber remains committed to unlocking digital potential in line with the Dubai Economic Agenda (D33).
Arabian Post
17-05-2025
- Business
- Arabian Post
Dubai Advances Cashless Economy with Strategic Financial Alliance
Dubai's Department of Finance and the Dubai International Financial Centre have formalised a partnership to accelerate the emirate's transition to a cashless economy. The agreement, signed in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee, underscores the shared commitment to the Dubai Cashless Strategy, which aims for 90% of all transactions to be digital by 2026. The Memorandum of Understanding was signed by Abdulrahman Saleh Al Saleh, Director-General of DOF, and Essa Kazim, Governor of DIFC. The collaboration focuses on three core pillars: Governance, Innovation, and Society, with an emphasis on enhancing the exchange of information and expertise in financial digitalisation. Essa Kazim highlighted DIFC's role as a regional leader in financial innovation, stating that the centre's ecosystem is well-positioned to support the strategy's objectives. DIFC hosts the largest concentration of fintech companies and global financial institutions in the region, providing a robust platform for implementing digital payment solutions. The Dubai Cashless Strategy, launched by Digital Dubai, is aligned with the Dubai Economic Agenda and aims to bolster secure digital payment solutions across both government and private sectors. The initiative is expected to contribute over AED 8 billion annually to the economy through fintech innovation. Abdulrahman Saleh Al Saleh noted that 97% of Dubai government transactions were digital in 2023, reflecting the emirate's advanced financial ecosystem. He emphasised that the strategy aligns with the vision of enhancing Dubai's global business position. The partnership between DOF and DIFC is part of a broader effort to position Dubai as a global hub for digital finance. DIFC has been actively involved in initiatives such as the Sustainable Finance Catalyst, which aims to scale sustainable finance flows from Dubai to USD 100 billion by 2030. The catalyst is supported by an AI-driven sustainability knowledge hub and seeks to train one million future sustainability leaders. See also Aramco Posts Drop in Q1 Profit Amid Economic Uncertainty
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
