Page 17 - AAE PR REPORT - OCTOBER 2025

Press Release

Al Ansari Financial Services partners with Dubai
Finance in support of Dubai Cashless Strategy 2026

October 16, 2025: Al Ansari Financial Services PJSC, a leading integrated financial services
provider in the UAE, has signed a Memorandum of Understanding (MoU) with the Dubai
Department of Finance (DOF) to accelerate the Dubai Cashless Strategy. This collaboration aligns
with the Emirate of Dubai’s ambitious goal to become a fully digitally enabled city by 2026,
increasing digital payment transactions in public and private sectors to 90% and enhancing
financial inclusion across the population.

The signing, which took place during GITEX Global 2025 within the Dubai Government Pavilion,
is a significant development in Dubai’s fintech sector. It brings together the innovation and scale
of the private sector with the policy leadership of the public sector to improve digital payment
options across the Emirate of Dubai and position it among the world’s top five cities in the adoption
of digital payments.

The MoU outlines a strategic collaboration aimed at accelerating the adoption of electronic
payments in order to reach the Dubai Cashless Strategy’s objectives. It prioritises financial
inclusion by leveraging Al Ansari's innovations and enhanced digital offering services, to
incorporate unbanked and underbanked communities into the digital economy. The collaboration
also aims to contribute to improving payment infrastructure and foster innovation through shared
expertise, with DOF leading policy alignment and governance to ensure a supportive regulatory
framework for a cashless society.

Ahmed Meftah, Executive Director of Central Accounts Sector at DOF, said: “This
collaboration with Al Ansari Financial Services marks a key milestone for our Dubai Cashless
Strategy. As a leading non-banking financial services provider to join this initiative, Al Ansari
Financial Services brings valuable expertise and innovation that align with our vision for inclusive,
future-ready digital finance services in Dubai. We believe this to be the beginning of a larger action
plan to promote innovation in finance and create a sustainable digital economy, which could lead
to the growth of fintech as well as the overall GDP of Dubai.”

Amna Mohammed Lootah, Director of the Digital Payment Systems Regulatory Division at
DOF, added: “Signing the MoU with Al Ansari Financial Services represents an important step
towards implementing the Dubai Cashless Strategy. We at DOF are committed to building
strategic partnerships with financial sector leaders, given their direct impact on accelerating the
transition to an integrated digital financial system. Al Ansari Financial Services is an effective
partner with extensive experience and advanced technical capabilities that contribute to enhancing
the spread of digital payment methods among segments of society, especially those with limited
access to banking services, such as labourers.”