“Dubai Residence” and “Dubai Finance” signs a memorandum of understanding to support the “Dubai List” initiatives

In a move that reflects Dubai’s commitment to strengthen its position as a global capital of the digital economy, the General Administration of Identities and Foreigners Affairs – Dubai and Dubai Financial signed a memorandum of understanding aimed at supporting digital payment initiatives, facilitating safe and effective financial transactions and expanding digital payment channels, in line with the “Dubai Land” strategy.

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 of the Emirate of Dubai, launched this strategy last October, and aims to raise the percentage of financial transactions implemented through digital means in the government and private sectors to 90% of the total transactions, and achieve 100% full digital empowerment at the level of the emirate by the end of next year 2026. \

The strategy also supports innovation and governance systems, and contributes to building a sustainable financial system that establishes Dubai’s position among the five best cities in the world in adopting digital payments.

Abdul Rahman Saleh Al Saleh, Director General of Dubai Finance, stressed that the Memorandum of Understanding with the General Administration of Identity and Foreigners Affairs – Dubai is a “model of institutional integration between government agencies in order to achieve the vision of our rational leadership.”

He stressed the importance of the vital role of the General Administration of Identity and Foreigners Affairs – Dubai in supporting Dubai’s critical strategy, and said: “We are continuing to enhance the adoption of non -monetary payments, in line with the goals of the Dubai Economic Agency (D33), by contributing to building an advanced and safe payment environment in the public and private sectors, supporting the national economy and meets the needs of individuals and companies.”

For his part, General Mohamed Ahmed Al -Marri, Director General of the General Administration of Identity and Foreigners Affairs – Dubai stressed: “We look at this partnership with the Finance Department as a strategic step that reflects our commitment to the approach of“ Human first ”, by providing smart and safe financial services that facilitate people’s lives and support their aspirations. The strengthening of the digital payment system is not just a technical development, but rather an investment in the future of Dubai as a world leading city in innovation and digital readiness.”

The memorandum focuses on developing digital infrastructure, adopting the latest financial technologies, exchanging knowledge and experiences between the two parties, as well as launching awareness campaigns that promote society’s confidence in digital solutions, and supports the shift towards a more sustainable and efficient economy.

For its part, Amna Mohamed Lootah, Director of the Department of Digital Payment Regulations, confirmed that this memorandum reflects the approach of the Dubai government in building leading government partnerships based on innovation and enhancing trust between government agencies and dealers, in a way that contributes to consolidating the emirate’s position as an integrated smart city that provides an ideal environment for work, life and prosperity, expressing its appreciation for the role of “Dubai Establishment” that is important in defining the segments of society, with the importance of turning into roads Various, soft, safe and safe digital payment and financial transfers.

She said: “High -level cooperation between government agencies in Dubai under the umbrella of Dubai’s critical strategy would contribute to enhancing economic growth by adding at least eight billion dirhams annually to the emirate’s economy, by developing a wide range of innovative financial technology services and accelerating the growth of the financial technology sector in Dubai.”

This memorandum reflects Dubai’s approach to building leading government partnerships based on innovation, and enhancing confidence between government agencies and dealers, which contributes to the consolidation of the emirate’s position as an integrated smart city that provides an ideal environment for work, life and prosperity.