By Staff Reporter
Dubai has taken another major step toward its “Cashless Dubai” vision with the signing of a Memorandum of Understanding between the Dubai Finance Department and the General Directorate of Identity and Foreigners Affairs (GDRFA Dubai).
The agreement aims to expand digital payment channels, strengthen secure transactions, and accelerate the emirate’s shift to a fully digital economy.
The initiative supports the strategy launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in October last year, which targets 90 percent of all financial transactions through digital channels and full digital enablement across Dubai by the end of 2026.
Officials highlighted the MoU as an example of institutional collaboration driving the emirate’s economic goals. Abdulrahman Saleh Al Saleh, Director General of the Dubai Finance Department, said the partnership reflects the government’s commitment to creating an advanced, secure payment environment aligned with the Dubai Economic Agenda D33.
Lieutenant General Mohammed Ahmed Al Marri, Director General of GDRFA Dubai, emphasized the human-centric approach of the agreement, noting that digital payments simplify daily life while strengthening Dubai’s global standing in innovation and readiness.
The MoU will focus on developing digital infrastructure, adopting financial technologies, sharing expertise, and launching public awareness campaigns to boost confidence in cashless solutions. According to Amina Mohammed Lootah, Director of Digital Payment Systems Regulation, the strategy could add at least AED 8 billion annually to Dubai’s economy through fintech growth.
This partnership reinforces Dubai’s ambition to rank among the world’s top five cities in digital payment adoption, cementing its status as a global leader in smart and sustainable economic development.
News Source: Dubai Media Office
