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 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 government entities and private-sector innovators. Through its participation at GITEX, Dubai exhibits its commitment to fostering public-private collaboration, exchanging expertise, and forming strategic partnerships with industry leaders to accelerate digital transformation.