Maktoum bin Muhammad receives a president "PayPal" The world’s leading e -commerce
Dubai, October 2 / WAM / His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Governor of Dubai, Deputy Prime Minister and Minister of Finance and President of the Dubai International Financial Center, received today Alex Chris, President and CEO of PayPal International Platform, a leader in the field of e -commerce, at the office of His Highness in Nad Al -Sheba in Dubai.
During the meeting, the continuous development of the UAE’s position was reviewed as a pivotal center for the global financial sector thanks to its tireless efforts in enhancing innovation and raising the level of flexibility and competitiveness of its economy, in parallel with the state’s keenness to expand in the model partnerships that it brings together with major international financial companies, especially those who are pioneering in adopting digital technologies, in line with the state’s directions in developing its digital economy.
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum expressed Dubai’s pride in fruitful cooperation with the global Paypal platform, as the opening of its regional headquarters recently in Dubai Internet City formed an important boost for this cooperation, stressing Dubai’s keenness to provide all the elements supporting the success of the major financial institutions that it chose a center from which to expand its work in the region.
His Highness explained that the strong digital infrastructure, flexible and advanced regulatory frameworks, and the typical environment that Dubai provides for financial and business institutions, enhances the opportunities of its partners in reaching markets with strong growth prospects, noting the impact of partnerships that bring Dubai with a group of global financial services institutions in enhancing the goals of the Dubai Economic Agenda D33 aimed at doubling the size of Dubai’s economy, and making it among the most important four global financial centers By 2033.
During the meeting, ways to enhance cooperation in the areas of digital payment systems, e -commerce development, empowering small and medium -sized companies, supported the elements of facilitating the financial movement across the border, in line with the UAE’s role in the global economic scene, and the motivations that Dubai provides for the financial and business community, based on its pioneering position as a global economic and commercial center.
The meeting was attended by His Excellency Hilal Saeed Al Murri, Director General of the Department of Economy and Tourism in Dubai, His Excellency Hamad Obaid Al Mansouri, Director General of Dubai Digital Authority, His Excellency Malik Al Malik, Director General of the Dubai Authority for Development and CEO of the Tekom Group, and His Excellency Mohamed Ali Rashid Lootah, Director General of Dubai Chambers.
Paypal opened its headquarters in Dubai Internet City in April of this year, its first in the Middle East and Africa.
PayPal is one of the largest global platforms specialized in the field of electronic payment, with a huge staff of approximately 24,400 / employees, as the company provides its services to more than 434 million customers and traders in about 200 markets around the world.
The value of the implemented payments through the platform by the end of 2024 reached about / 1.68 / trillion dollars, through 26 billion payment operations, while the net revenues of the leading digital platform amounted to $ 31.8 billion by the end of the year 2024.
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