Dubai Finance (DOF) and the Dubai International Financial Centre (DIFC) have signed a strategic agreement to drive forward the Dubai Cashless Strategy, marking a major step in the emirate’s push towards a fully digital financial future.
The Memorandum of Understanding (MoU), signed during the Dubai FinTech Summit in Madinat Jumeirah, focuses on three key pillars — Governance, Innovation, and Society. It aims to enhance collaboration on financial digitalisation, drawing on DIFC’s position as the region’s leading financial innovation hub.
The signing was held in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Supreme Fiscal Committee. The agreement was formalised by Abdulrahman Saleh Al Saleh, Director-General of DOF, and Essa Kazim, Governor of DIFC.
Al Saleh highlighted the partnership as a crucial move in aligning with Dubai’s vision to become a global financial centre.
“This agreement accelerates our shift to a fully integrated digital financial system,”
he said.
“Through this collaboration, we aim to foster innovation in digital payments and build a secure, adaptable ecosystem.”
Essa Kazim noted the MoU supports the broader vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to position Dubai as a digital economy leader.
“DIFC will continue to provide an enabling environment for fintech growth and sustainable innovation,”
he said.
As part of the initiative, workshops, innovation programmes, and AI-driven projects will be launched to support the transition to a cashless society. The agreement also leverages the DIFC Innovation Hub to boost adoption of digital payment solutions across various sectors, including tourism and public services.
News source: Emirates News Agency
