In a move reflecting Dubai’s commitment to strengthening its position as a global capital for the digital economy, the General Directorate of Residency and Foreigners Affairs – Dubai, and Dubai Finance signed a memorandum of understanding aimed at supporting digital payment initiatives, facilitating secure and efficient financial transactions, and expanding digital payment channels in line with the ‘Dubai Cashless’ strategy.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defense, and Chairman of the Executive Council of Dubai, launched this strategy last October. It aims to increase the percentage of financial transactions conducted through digital means in both government and private sectors to 90% of total transactions and achieve full digital empowerment at the emirate level by the end of 2026.

The strategy also supports innovation and governance systems and contributes to building a sustainable financial ecosystem that consolidates Dubai’s position among the top five global cities in adopting digital payments.

Abdulrahman Saleh Al Saleh, Director General of Dubai Finance, confirmed that the MoU with the General Directorate of Residency and Foreigners Affairs – Dubai is a model of institutional integration among government entities to achieve the vision of the wise leadership.

He emphasized the vital role of the General Directorate of Residency and Foreigners Affairs – Dubai in supporting the Dubai Cashless strategy, stating, “We are moving forward in enhancing the adoption of cashless payments, in line with the goals of the Dubai Economic Agenda (D33), by contributing to building an advanced and secure payment environment in both public and private sectors that supports the national economy and meets the needs of individuals and companies.”

For his part, Lieutenant General Mohammed Ahmed Al Marri, Director General of the General Directorate of Residency and Foreigners Affairs – Dubai, said, “We view this partnership with the Finance Department as a strategic step reflecting our commitment to the ‘People First’ approach by providing smart and secure financial services that facilitate people’s lives and support their aspirations. Enhancing the digital payment ecosystem is not just a technical development but an investment in Dubai’s future as a globally leading city in innovation and digital readiness.”

The MoU focuses on developing digital infrastructure, adopting the latest financial technologies, exchanging knowledge and expertise between the two parties, alongside launching awareness campaigns to boost community trust in digital solutions and support the transition towards a more sustainable and efficient economy.

Amina Mohammed Lutah, Director of the Digital Payment Systems Regulation Department, affirmed that this MoU reflects Dubai government’s approach to building pioneering government partnerships based on innovation and enhancing trust between government entities and customers, contributing to consolidating the emirate’s position as an integrated smart city providing an ideal environment for work, life, and prosperity. She expressed appreciation for the important role of ‘Dubai Residency’ in educating community segments about the importance of transitioning to diverse, easy, and secure digital payment methods and financial transfers.

She said, “High-level cooperation between government entities in Dubai under the umbrella of the Dubai Cashless strategy will contribute to boosting economic growth by adding no less than eight billion dirhams annually to the emirate’s economy through developing a wide range of innovative fintech services and accelerating the growth pace of Dubai’s fintech sector.”

This MoU reflects Dubai’s approach to building pioneering government partnerships based on innovation and enhancing trust between government entities and customers, contributing to consolidating the emirate’s position as an integrated smart city providing an ideal environment for work, life, and prosperity.