Dubai Finance & DIFC Team Up to Boost Cashless Strategy

Post by : Layla Badr

Photo: Dubai Government Media Office

Dubai Finance (DOF) and the Dubai International Financial Centre (DIFC) have signed an important agreement to help turn Dubai into a city where people mostly use digital money instead of cash. This plan is called the Dubai Cashless Strategy, and it focuses on three main things: Good Rules (Governance), New Ideas (Innovation), and Helping Society.

DIFC is a special place in Dubai where many banks and financial technology (FinTech) companies work. It is known around the region as a leader in digital finance. That’s why DOF is working together with DIFC on this project.

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The agreement was signed in front of His Highness Sheikh Ahmed bin Saeed Al Maktoum, who is an important leader in Dubai’s financial planning. The signing was done by Mr. Abdulrahman Saleh Al Saleh, the head of Dubai Finance, and Mr. Essa Kazim, the head of DIFC. This happened during the Dubai FinTech Summit, which took place at Madinat Jumeirah earlier this week.

Mr. Abdulrahman Al Saleh said:
“This is a big step for Dubai. Our leaders want Dubai to be one of the best financial cities in the world. DIFC is already helping by providing good rules and excellent facilities. Through this partnership, we want to bring more innovation in digital payments, making sure people and businesses can use safe and easy ways to pay without using cash.”

Mr. Essa Kazim added:
“This agreement supports the goal of making Dubai a digital economy leader. At DIFC, we help FinTech companies grow and build new ideas. By working with Dubai Finance, we hope to improve the digital systems and help create a strong future for digital finance in Dubai.”

As part of this partnership:

• Workshops and training will be organized to teach people and companies how to move away from cash and use digital payments.

• New ideas using technology like Artificial Intelligence (AI) will be explored to make digital payments easier for workers, tourists, and everyone in the community.

• They will also support startup programs and innovation hubs to help create smart, easy-to-use digital financial tools for the future.

This teamwork between DOF and DIFC is a big move toward making Dubai smarter, more digital, and ready for the future without the need to carry cash.

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