Page 68 - AAE PR REPORT - OCTOBER 2025

10/17/25, 9:30 AM Al Ansari Financial Services partners with Dubai Finance in support of Dubai Cashless Strategy
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.”

Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, stated: “We are proud to partner with

DOF to advance Dubai cashless strategy. The collaboration comes as testament to our joint
commitment to promoting financial inclusion, enhancing payment innovation, and supporting the
nation’s vision of a cashless economy. More importantly, the move demonstrates the Emirate of Dubai’s
commitment to strengthening ties with the private sector to translate high-level strategy into action and
achieve a cashless society by 2026 through proactive public-private collaboration.”

This development exemplifies the Dubai Cashless Strategy's broad appeal and inclusivity. With a
diverse clientele and new digital initiatives, including a digital wallet, Al Ansari Financial Services is well-
positioned to support the Emirate’s pursuit of a cashless economy.

This landmark partnership was signed during GITEX Global 2025, which is being held from October 13

to 17, 2025. The event, one of the world's largest technology exhibitions, brings together Dubai's

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