Page 76 - AAE PR REPORT - OCTOBER 2025

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 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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