The Dubai government announces its intention to provide government fees in cryptocurrencies

Dubai, May 12 / WAM / Dubai Finance announced the signing of a memorandum of understanding with the world famous “Creibo.com” platform in the field of cryptocurrencies, to pave the way for the payment of government services fees for the Dubai government through encrypted currencies, in a move first of its kind in the world.
The Memorandum of Understanding was concluded today (Monday) in the presence of His Excellency Abdullah Mohammed Al -Basti, Secretary -General of the Executive Council of the Emirate of Dubai, His Excellency Abdul Rahman Saleh Al Saleh, Director General of Dubai Finance, signed by Ahmed Ali Moftah, Executive Director of the Central Accounts Sector in Dubai Finance, and Mohamed Al Hakim, President of “Crypto.com” in the UAE, who is approved by the authority to organize virtual assets in Dubai, on the sidelines of Dubai Finance and Company “Crypto.com” at the activities of the Dubai Financial Technology Summit, which started today at the Dubai World Financial Center, to constitute a pivotal step in pushing the wheel of the digital financial scene in Dubai towards the future.
The memorandum aims to support the implementation of Dubai’s critical strategy and a transformation towards a digital community, through the intention of the Dubai government to use financial technology to provide a new digital payment channel on Dubai digital gates, which is to pay for government services through stable cryptocurrencies, in a safe and innovative way.
His Excellency Abdullah Mohammed Al -Basti, Secretary -General of the Executive Council of the Emirate of Dubai, stressed that adopting innovative solutions to keep pace with global economic and financial transformations in government services in Dubai is a firm approach to anticipating future needs and following them in a proactive manner; It is also available for the use of safe cryptocurrencies in the government payment system.
His Excellency said: With the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, and with the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, and Chairman of the Executive Council, Dubai continues to coordinate between its various government agencies and vital sectors, to keep pace with the aspirations of individuals, institutions, business community and overcome their expectations, and stressed that with the arrival of the emirate World leading levels of digital transformation according to various international indicators, it enhances this leadership by activating the latest financial technology solutions to facilitate government transactions and establish a distinguished global model in employing its critical strategy for facilitating people’s lives and activating innovation in financial services.
His Excellency thanked the Department of Finance in the Dubai Government for its efforts to contribute to opening new horizons for the pioneers of technology partnerships around the world, in order to support the achievement of the targets of Dubai Economic Agenda D33 and its transformation projects that make Dubai a major center to embrace the latest innovations.

His Excellency Abdul Rahman Saleh Al Saleh expressed his pride in the vital role that Dubai’s finances play in implementing the Dubai critical strategy, and its keenness to become the motor who is the motive behind the success of this strategy and reaching a unique digital financial future, stressing the importance of the Memorandum of Understanding concluded with the “Crevo.com” platform to accelerate access to the targets of this strategy.
His Excellency said: Dubai’s critical strategy is consistent with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, to improve the global emirate’s status in the field of digitization of payments, and we will continue to work with various partners from the authorities in the Dubai government, and prestigious financial service providers around the world, in order to enhance the system of digital payments, and continue to develop innovative solutions that meet the needs of the digital economy The growing.
Eric Anziani, President and CEO of Operations at Kribo.com, said that the Dubai government has always been a global vision established in its plans to build a society free of criticism, expressing his pride in the company’s cooperation with Dubai Finance in supporting the Dubai Critic Strategy, which confirmed that it achieves the first comprehensive and integrated application to digitize payments at the government level through cryptocurrencies. He expressed his aspiration to harness the company’s capabilities and innovative ideas to stimulate this progress, realizing the exceptional vision of Dubai’s leadership and its ability to draw the features of the future of economic growth through such ambitious programs.
Dubai’s finance is committed to adopting the latest financial technology, reflecting the ambitious vision of the Emirate of Dubai to become a global center for digital payments, as Ahmed Ali Moftah, who said that cooperation between the public and private sectors “plays a fundamental role in achieving this transformation.”

He added: We are working on developing an advanced organizational environment that supports innovation, and ensures the highest levels of safety and efficiency in digital financial transactions, which enhances the confidence of customers with the Dubai government, creates new opportunities for economic growth, and we will continue our efforts, through strategic partnership relations, to establish a sustainable financial model that supports individuals and institutions, and enables Dubai to lead the future of financial technology worldwide, so that the emirate remains at the forefront of innovation And economic progress.
Today’s declaration represents a “new progress in the field of digital financing adoption, with a comprehensive integration with various levels of government payments, according to what Mohamed Al -Hakim, who expressed his pride in cooperation with Dubai’s finance in” implementing a leading strategic initiative in the world within the framework of Dubai’s ambitious economic agenda “D33”, noting that the emirate continues to push the wheels of economic growth through the Dubai critical strategy, which paves the way towards the future of economic diversification Sustainable.
Amna Mohamed Lootah, Director of Digital Payment Regulations Department, said that Dubai’s critical strategy aims to enhance the emirate’s position among the most prominent digital cities in the world, through the implementation of more than 90% of financial transactions in the government and private sectors by critical methods by 2026, noting that there is a great diversity in the digital payment channels provided by the Dubai government to dealers.

She added: The signing of the Dubai government with a famous global platform is the cryptocurrency is the first of its kind in the world in terms of empowering dealers with the government to pay all government fees, and we see that it will contribute a clear contribution to pushing Dubai’s critical strategy.
It is expected that the strategy will contribute to enhancing economic growth by adding at least eight billion dirhams annually to the economy, by developing a wide range of innovative financial technological services and accelerating the pace of the growth of the financial technology sector in Dubai.
It is expected, as soon as the technical arrangements needed to activate the agreement are expected, dealers with various government agencies, from individuals and institutions, can pay government services by paying the digital portfolios on the “Crypto.com” platform, which transforms these fees into Dubai financial accounts in the UAE dirham, within the framework of safe and innovative payment.

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