Understanding Memorandum to support the implementation of the target Dubai Strategy Strategy

Dubai Finance and the Dubai Digital Economy Chamber, one of the three rooms operating under the umbrella of Dubai Chambers, concluded a memorandum of understanding aimed at enhancing cooperation and partnership to implement the targets of Dubai’s critical strategy, with a focus on the main axes of the strategy, represented in governance, innovation and a shift towards a critical society.

The Director General of the Department of Finance in the Dubai Government, 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.

He affirmed the “Dubai Finance” keenness to accelerate the shift towards an integrated digital community, by providing a flexible and safe financial environment, which depends on innovative payment solutions that keep pace with the emirate’s ambitions and aspirations.

For his part, the Director General of Dubai Chambers, Mohamed Ali Rashid Lootah said: “We are keen to contribute effectively to the implementation of 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.”

He added: “Cooperation with (Dubai Finance) comes within the framework of joint commitment to enhance Dubai’s role in shaping the features of the future of digital payments globally.”

The Memorandum of Understanding states to enhance cooperation in several areas 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 following up 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 community in line with Dubai’s critical strategy.

According to the memo, the Dubai Chamber of Digital Economy and Dubai Finance will cooperate to discuss the launch of awareness campaigns, build national capabilities to increase confidence in digital solutions, 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 To ensure integration between national efforts and regional and international initiatives.