The Department of Finance in the Government of Dubai and the Dubai Chamber of Digital Economy — one of the three chambers operating under the umbrella of Dubai Chambers — have signed a Memorandum of Understanding (MoU) to strengthen cooperation and partnership in achieving the objectives of Dubai’s Cashless Strategy. The focus will be on the strategy’s core pillars: governance, innovation, and transitioning toward a cashless society.
The MoU was signed in the presence of H.E. Abdulrahman Saleh Al Saleh, Director General of the government of Dubai’s Department of 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 Ahmed Ali Meftah, Director of the Management Accounting division at the Government of Dubai’s Department of Finance.
Under the agreement, the two sides will explore launching awareness campaigns and national capacity-building efforts to boost confidence in digital solutions, develop local talent in business sectors, and establish specialized working groups to support innovation and drive the shift to a cashless economy. These efforts aim to develop initiatives that meet the needs of both institutions and consumers while ensuring alignment with national, regional, and international efforts to enhance the UAE’s competitiveness in financial technology.
Areas of cooperation will also include joint efforts to promote the benefits of digital payments, increase the use of available apps and systems across government entities, and strengthen bilateral cooperation in training and education on cashless transformation. These initiatives aim to empower private sector users to understand and utilize digital payment tools and applications. Joint coordination will also support the effective implementation of shared projects and sustainable development initiatives.
H.E. Abdulrahman Saleh Al Saleh stated that the MoU represents an important step toward unifying efforts and strengthening partnerships between government entities to achieve the goals of Dubai’s Cashless Strategy.
H.E. Mohammad Ali Rashed Lootah emphasized Dubai Chambers’ commitment to actively supporting the implementation of the strategy by driving the growth of the digital economy ecosystem and enhancing the competitiveness of the fintech sector in Dubai, alongside accelerating digital transformation across all business sectors, especially the financial sector.