Dubai: H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, was present at the signing of a Memorandum of Understanding (MoU) between the Department of Finance and the Dubai Free Zones Council. The agreement aims to enhance digital payment initiatives and bolster Dubai's Cashless Strategy, further integrating the government's digital efforts and expediting the transition to a fully digital transaction ecosystem.
According to Emirates News Agency, the MoU was signed by Abdulrahman Saleh Al Saleh, Director General of the Department of Finance, and Dr. Mohammed Al Zarooni, Secretary General of the Dubai Free Zones Council. The signing was attended by senior officials and seeks to align joint efforts to support the cashless strategy, including knowledge exchange, data collaboration, and the adoption of advanced financial technologies. This initiative aims to position Dubai as a leading global digital city.
Abdulrahman Saleh Al Saleh stated that the MoU underscores the Dubai Government's commitment to enhancing partnerships and accelerating the transition towards a digital transaction ecosystem. This aligns with the objectives of the Dubai Cashless Strategy and Dubai Economic Agenda D33. Efforts will focus on collaboration in knowledge and data exchange to improve financial transaction efficiency and prepare public and private sectors for the future.
Dr. Mohammed Al Zarooni emphasized that the initiative provides a practical framework for cooperation with government entities and supports Dubai's strategic direction toward a digital transactions ecosystem. It aims to reinforce Dubai's position as a hub for the digital economy and improve service efficiency and business resilience across free zones.
The cooperation areas include supporting awareness initiatives, national capacity building, and developing innovative initiatives to advance cashless society transition. The strategy targets raising cashless transactions to 90% of all financial transactions and achieving 100% digital enablement of institutions by the end of 2026, in line with the Dubai Economic Agenda D33.