Dubai Finance Department and GDRFA Sign MoU to Advance Cashless Dubai
Dubai has taken another step toward becoming a global leader in the digital economy. The Dubai Finance Department and the General Directorate of Residency and Foreigners Affairs (GDRFA Dubai) have signed a Memorandum of Understanding (MoU) to support the emirate’s “Cashless Dubai” strategy.
The agreement aims to:
- Expand secure digital payment channels
- Facilitate seamless government and private sector transactions
- Strengthen Dubai’s fintech ecosystem through innovation and governance
Cashless Dubai Targets
The Cashless Dubai strategy was launched in October 2023 under the leadership of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai.
By 2026, the initiative aims to achieve:
| Goal | Target by 2026 |
|---|---|
| Share of transactions via digital channels | 90% |
| Full digital enablement | 100% |
| Annual contribution to Dubai’s economy | AED 8 billion+ |
| Global ranking goal | Top 5 cities in digital payments |
Leadership Perspectives
- Abdulrahman Saleh Al Saleh, Director General of the Dubai Finance Department:
“This partnership with GDRFA reflects the integration of government entities to achieve our leadership’s vision. Expanding non-cash payments will create a secure financial environment that supports both the economy and society.” - Lieutenant General Mohammed Ahmed Al Marri, Director General of GDRFA Dubai:
“Our collaboration with the Finance Department aligns with the ‘Human First’ principle. Digital payments are not just technology—they are an investment in Dubai’s future as a global innovation hub.” - Amina Mohammed Lootah, Director of Digital Payment Systems Regulation:
“Government partnerships like this will accelerate fintech growth in Dubai, strengthening trust between entities and customers while adding at least AED 8 billion annually to the economy.”
Key Features of the MoU
- Development of advanced digital infrastructure
- Adoption of cutting-edge financial technologies
- Exchange of expertise between entities
- Awareness campaigns to increase public trust in digital solutions
- Support for sustainable and efficient economic growth
Impact on Dubai’s Digital Future
This MoU strengthens Dubai’s ambition to position itself as a global fintech leader, providing residents and businesses with secure, convenient, and smart financial services. It also supports the Dubai Economic Agenda (D33), which prioritizes digital innovation as a pillar of future growth.
