Dubai has taken a major step toward expanding its digital economy with the signing of a Memorandum of Understanding between the Department of Finance and the Dubai Free Zones Council.
The agreement, witnessed by His Highness Sheikh Ahmed bin Saeed Al Maktoum, aims to advance digital payment initiatives and support the emirate’s ambitious Cashless Strategy.
The MoU was signed by His Excellency Abdulrahman Saleh Al Saleh, Director General of the Department of Finance, and His Excellency Dr. Mohammed Al Zarooni, Secretary General of the Dubai Free Zones Council, in the presence of senior officials from both entities. The partnership is designed to strengthen government integration and accelerate the transition to a fully digital transactions ecosystem across public services and free zone operations.
Officials said the agreement will focus on exchanging knowledge and expertise related to cashless transformation. It also includes cooperation on data analytics to monitor progress and evaluate the impact of digital payments. The adoption of advanced financial technologies will play a central role in helping institutions move away from cash-based processes.
Abdulrahman Al Saleh noted that the MoU reflects a strong commitment to building effective government partnerships that enhance efficiency and readiness for the future. He added that these initiatives align closely with the Dubai Economic Agenda D33 and its goal of positioning Dubai among the world’s leading digital cities.
Dr. Mohammed Al Zarooni described the agreement as a practical framework for long-term cooperation with key government entities. He said it will help improve service efficiency and reinforce the resilience of the business environment across Dubai free zones.
The collaboration supports awareness programs, national capacity building, and specialised working groups to promote wider use of digital payment tools. The Cashless Strategy targets raising cashless transactions to 90 percent of total financial dealings and ensuring full digital enablement of institutions by the end of 2026.
News Source: Dubai Media Office
