Al Ansari Financial Services Partners with Dubai’s Department of Finance to Advance the Dubai Cashless Strategy
Al Ansari Financial Services has signed a Memorandum of Understanding (MoU) with the Dubai Department of Finance to accelerate the implementation of the Dubai Cashless Strategy, reinforcing the emirate’s vision of transitioning to a fully digital economy by 2026.
The agreement aligns with Dubai’s Digital Transformation Vision, which aims to increase the share of digital transactions across the public and private sectors to 90%, while promoting financial inclusion for all segments of society, thereby contributing to a sustainable and diversified digital economy.
The MoU was signed during GITEX Global 2025, within the Dubai Government Pavilion, marking a key milestone in the development of the fintech ecosystem. The collaboration combines the innovation and capabilities of the private sector with Dubai’s enabling government policies to enhance digital payment options and strengthen the emirate’s position among the top five global cities for digital payment adoption.
Under the MoU, both parties will work to accelerate electronic payment adoption, expand financial inclusion—especially for underbanked groups—, and develop payment infrastructure through the exchange of expertise and innovation. The partnership will also support a robust regulatory framework for digital transformation, under the supervision of the Dubai Department of Finance.
Ahmed Ali Meftah, Executive Director of the Central Accounts Sector at Dubai’s Department of Finance, described the partnership as a pivotal step in advancing the Dubai Cashless Strategy, adding that it will contribute to fostering innovation and building a sustainable digital economy.
Amina Mohammed Lootah, Director of Digital Payment Systems Regulation at the Department of Finance, emphasized that the agreement reflects the department’s commitment to strategic partnerships with leading financial institutions to accelerate the shift toward a fully digital financial ecosystem. She noted that Al Ansari Financial Services brings extensive experience and advanced technological capabilities to the initiative.
Meanwhile, Rashed Ali Al Ansari, Group CEO of Al Ansari Financial Services, expressed pride in collaborating with Dubai’s Department of Finance, highlighting that this partnership demonstrates the effective synergy between the public and private sectors in realizing the Dubai Cashless Strategy’s 2026 goals and supporting the UAE’s vision for a cashless, innovation-driven economy that promotes inclusion across all segments of society.
