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10/17/25, 9:31 AM Al Ansari Financial Services Partners With Dubai Finance In Support Of Dubai Cashless Strategy

Al Ansari Financial Services Partners

With Dubai Finance In Support Of Dubai

Cashless Strategy

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2025-10-16 01:00:27

(MENAFN- Mid-East Info) 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.”

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

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