Dubai’s Department of Finance (DOF) and Network International (Network), a leading enabler of digital commerce in the Middle East and Africa, have signed a Memorandum of Understanding (MoU) to support the implementation of the Dubai Cashless Strategy.
The Strategy, which was launched in October 2024 by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, is a transformative initiative to position Dubai amongst the top five cashless cities by 2026.
This partnership strengthens the Strategy’s three key pillars: Governance, Innovation, and Societal Empowerment, while fostering knowledge exchange and driving efforts towards comprehensive financial digitalisation.
The MoU was signed by Ahmad Ali Meftah, Executive Director of the Central Accounts Sector at DOF, and Jamal Al Nassai, Group Managing Director for Merchant Services – Middle East and North Africa at Network International.
Leveraging its advanced expertise in fintech and digital payment solutions, Network plays a vital role in promoting the widespread adoption of digital payments across multiple sectors, enabling secure and seamless transactions for businesses and individuals.
Under this partnership, both parties will explore fintech-led innovations, drawing on Network’s capabilities to deploy digital payment solutions that enhance financial inclusion and convenience for the broader community.
The agreement also supports innovative initiatives aimed at developing cutting-edge, digital financial services that offer seamless payment experiences for all users.
“Partnering with Network International is a significant milestone in driving forward the Dubai Cashless Strategy,” commented Ahmad Ali Meftah. “By adopting state-of-the-art digital payment solutions, we are working to build a more inclusive and efficient financial ecosystem that benefits every segment of society.
This collaboration highlights our dedication to fast-track the transition to a fully cashless economy by delivering secure, seamless, and cutting-edge payment solutions for individuals and businesses alike.
As Dubai continues to solidify its status as a global leader in financial innovation, this initiative will play a crucial role in defining the future of digital transactions throughout the Emirate.”
Jamal Al Nassai added, “At Network International, we remain steadfast in our mission to advance the digital payments landscape in the UAE and to enable seamless, secure financial transactions across every sector of the economy.
Our partnership with the DOF reflects this commitment by equipping all Government of Dubai customers – whether businesses or individuals – with innovative and secure payment solutions.
With our support for the Dubai Cashless Strategy, we are contributing to shape a more inclusive, resilient, and innovative financial ecosystem that benefits the entire community and positions Dubai at the forefront of the region’s digital economy”.
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