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Dubai Chamber of Digital Economy, operating under the umbrella of Dubai Chambers, has signed a Memorandum of Understanding (MoU) with Dubai Finance (DOF) to enhance collaboration and drive forward the Dubai Cashless Strategy. The agreement focuses on the strategy’s three pillars: governance, innovation, and the shift towards a cashless society.
The signing took place in the presence of H.E. Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, and H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers. The MoU was signed by Saeed Al Gergawi, Vice President of Dubai Chamber of Digital Economy, and Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at Dubai Finance.
H.E. Abdulrahman Saleh Al Saleh said: “This MoU with the Dubai Chamber of Digital Economy represents an important step towards unifying efforts and strengthening partnerships among government entities to achieve the objectives of the Dubai Cashless Strategy. At Dubai Finance, we are committed to accelerating the transition towards a fully digital society by providing a flexible and secure financial environment that leverages innovative payment solutions in line with the emirate’s ambitions and leadership vision. Our collaboration with the Dubai Chamber of Digital Economy reflects our shared commitment to supporting innovation, enhancing governance, and building a sustainable financial ecosystem that reinforces Dubai’s position as one of the world’s leading cities in adopting digital payments.”
H.E. Mohammad Ali Rashed Lootah stated: “We are committed to actively supporting the implementation of the Dubai Cashless Strategy by advancing the digital economy ecosystem and strengthening the competitiveness of Dubai’s fintech sector. This aligns with our ongoing efforts to accelerate digital transformation across all business sectors, particularly financial services. Our partnership with Dubai Finance reflects our shared commitment to positioning Dubai as a global leader in shaping the future of digital payments.”
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The agreement
The MoU defines key areas of cooperation, including sharing knowledge and experience on cashless transformation in the financial sector, exchanging relevant data and analysis, and monitoring the outcomes of ongoing initiatives. Both parties will coordinate on leveraging emerging fintech solutions to support the transition to a cashless economy, aligning with the goals of the Dubai Cashless Strategy.
Further, the agreement outlines joint efforts in raising awareness through campaigns and capacity-building programmes aimed at fostering trust in digital solutions and nurturing local talent across business sectors. The two organisations will form specialised working groups to promote innovation and the adoption of cashless practices in finance, with a focus on launching forward-looking initiatives.
The scope of collaboration also includes joint efforts to educate stakeholders on the benefits of digital payments, promote government-backed applications and systems, and offer training initiatives to enhance private sector understanding and usage of digital tools. The two entities will work together on projects that encourage awareness, efficient programme execution, and sustainable development.
Dubai Chamber of Digital Economy continues to play a critical role in positioning Dubai as a global digital economy hub. The chamber is dedicated to unlocking opportunities across digital sectors and supporting Dubai’s transformation into a global leader in technology and innovation, in line with the goals of the Dubai Economic Agenda (D33).
