The Dubai Government has announced a new step to advance Dubai digital payment initiatives and support the Dubai Cashless Strategy. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, witnessed the signing of a Memorandum of Understanding between the Department of Finance and the Dubai Free Zones Council.

The agreement 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. Senior officials were present during the signing.

The MoU aims to strengthen government integration and accelerate the transition to a fully Dubai digital transactions ecosystem. It supports joint efforts aligned with the Dubai Cashless Strategy. Moreover, it focuses on exchanging knowledge and expertise in cashless transformation.

In addition, the agreement revealed plans for collaboration on data and analytics to track progress and assess impact. It also supports the adoption of advanced financial technologies to speed up the shift toward a cashless society and support Dubai’s digital economy goals.

Speaking on the occasion, Abdulrahman Saleh Al Saleh said the MoU reflects the Dubai Government’s commitment to unified efforts that accelerate an integrated Dubai digital transactions ecosystem. He reported that cooperation in knowledge sharing and data exchange will enhance financial efficiency across public and private sectors. These efforts also align with the Dubai Economic Agenda D33.

Dr. Mohammed Al Zarooni said the agreement provides a practical framework for cooperation with government entities. He noted that it supports Dubai’s direction toward an advanced Dubai digital transactions ecosystem and strengthens the business environment across free zones.

The areas of cooperation include:

• Supporting awareness initiatives and national capacity building
• Establishing specialised working groups for cashless initiatives
• Encouraging the adoption of Dubai digital payment tools and applications

The initiative targets raising cashless transactions to 90% of total financial transactions across public and private sectors. It also aims for 100% digital enablement of institutions by the end of 2026, in line with the Dubai Economic Agenda D33.

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