Latest news with #AhmadAliMeftah
Hi Dubai
a day ago
- Business
- Hi Dubai
Dubai Finance Partners with NEOPAY to Accelerate Citywide Cashless Transformation
Dubai Finance (DOF) has signed a strategic agreement with NEOPAY, one of the UAE's leading payment solutions providers, to fast-track the city's transition to a cashless economy under the Dubai Cashless Strategy launched in October 2024. The Memorandum of Understanding, signed by DOF Executive Director Ahmad Ali Meftah and NEOPAY CEO Vibhor Mundhada, aims to strengthen financial digitalisation and innovation across government and private sectors. The initiative is built around three core pillars — Governance, Innovation, and Society — and aligns with the city's broader ambition to lead globally in digital finance. As part of the agreement, NEOPAY will leverage its advanced fintech capabilities to support the rollout of AI-powered solutions that enhance accessibility, improve transaction efficiency, and provide seamless digital payment options for residents and businesses. 'This partnership with NEOPAY marks a significant milestone in advancing the Dubai Cashless Strategy,' said Meftah. 'We are fostering a more inclusive and technologically advanced financial ecosystem that benefits the entire society.' Mundhada echoed the commitment, stating, 'This collaboration reinforces our role in delivering intelligent, secure payment experiences and supporting Dubai's wider financial innovation goals.' The partnership also supports fintech innovation accelerators aimed at developing user-friendly, high-performance digital payment systems that further entrench Dubai's leadership in the global fintech landscape. News Source: Dubai Media Office
Hi Dubai
13-05-2025
- Business
- Hi Dubai
Dubai Finance Partners with Crypto.com to Enable Crypto Payments for Government Services
Dubai Finance has signed a landmark agreement with to allow the payment of government service fees using cryptocurrencies, marking a major step forward in the emirate's push toward a fully digital, cashless economy. The Memorandum of Understanding (MoU) was signed today during the Dubai FinTech Summit at the Dubai International Financial Centre, in the presence of key government and industry leaders. The move supports the Dubai Cashless Strategy, which aims to have over 90% of transactions in the emirate conducted without cash by 2026. Ahmad Ali Meftah of Dubai Finance and Mohammed Al Hakim of UAE formalised the deal. licensed by the Dubai Virtual Assets Regulatory Authority, will provide the technology infrastructure to process cryptocurrency payments and convert them into Emirati dirhams. The initiative will allow users to pay for government services using stable digital currencies via wallets. Payments will be securely processed and transferred to Dubai Finance, creating a seamless and secure experience for both individuals and businesses. Officials say the partnership strengthens Dubai's status as a global hub for financial innovation and supports the emirate's broader economic agenda. It is expected to add AED 8 billion annually to the economy and accelerate growth in the fintech sector. 'This agreement reflects Dubai's proactive approach in shaping the future of finance,' said Abdulla Mohammed Al Basti, Secretary-General of The Executive Council of Dubai. 'It reinforces our commitment to innovation, digital transformation, and global leadership in financial technology.' News Source: Emirates News Agency
