Collaborate "Dubai Finance" and"Dubai Digital Economy"

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Dubai, July 17/ WAM/ The Finance Department of the Dubai Government, and the Dubai Digital Economy Chamber, one of the three rooms operating under the umbrella of Dubai Chambers, concluded a memorandum of understanding to enhance cooperation and partnership to implement the targets of Dubai Critic Strategy, with a focus on the main axes of the strategy represented in governance, innovation and a transformation towards a critical society.

The signing of the memo was attended by His Excellency Abdul Rahman Saleh Al Saleh, Director General of Dubai Finance, His Excellency Mohamed Ali Rashid Lootah, Director General of Dubai Chambers, while Saeed Al -Garqawi, Vice President of the Dubai Chamber of Digital Economy, and Ahmed Ali Moftah, Executive Director of the Central Accounts Sector in Dubai Finance.

The memo states to enhance cooperation in several fields that include the exchange of knowledge and experiences in the field of critical transformation in the financial services sector, and the participation of data and analyzes and the follow -up of the results of the application of the critical transformation initiatives in the financial sector, in addition to joint coordination of the employment of modern financial technology in a way that enhances the transformation towards a critical society in line with the Dubai critical strategy.

According to the memo, the two sides will cooperate to discuss the launch of awareness campaigns and build national capabilities to increase confidence in digital solutions and develop national competencies in business sectors, and to form specialized work teams to support innovation and critical transformation in the financial sector to develop innovative initiatives aimed at accelerating the transition towards a critical community, with a focus on solutions that meet the needs of institutions and consumers, in addition to ensuring integration between national efforts Regional and international initiatives to enhance the competitiveness of the UAE in the field of financial technology.

The areas of cooperation include the development of joint work to enhance awareness of the benefits of digital payment and enhance the use of applications and systems available to government agencies, and to improve bilateral cooperation in the field of training and education in the field of critical transformation in the financial sector, in order to enable users from private sector companies to understand and use the tools and applications available for digital payment, in addition to joint coordination in the framework of implementing projects and bilateral initiatives between them in the field of awareness and the use of effective programs And sustainable development.

His Excellency Abdul Rahman Saleh Al Saleh said that the Memorandum of Understanding is an important step towards unifying efforts and consolidating partnership relations between government agencies to achieve the targets of Dubai’s critical strategy.

For his part, His Excellency Mohammed Ali Rashid Lootah stressed the keenness of Dubai Chambers to contribute effectively to implementing the Dubai critical strategy by supporting the development of the digital economy system and upgrading the competitiveness of the financial technology sector in the emirate, in conjunction with the acceleration of the adoption of digital transformation in all business sectors, foremost of which is the financial sector.