Understanding between “residence” and “financial” Dubai to support “critical” initiatives

The General Administration of Identity and Foreigners Affairs – Dubai and Dubai Finance signed a memorandum of understanding aimed at supporting digital payment initiatives, facilitating safe and effective financial transactions and expanding digital payment channels, in line with the “Dubai Lental” strategy. His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense and Chairman of the Executive Council of the Emirate of Dubai, launched this strategy last October, and aims to raise the percentage of financial transactions implemented through digital means in the governmental and private sectors to 90% of the total transactions, and achieve 100% full digital empowerment at the emirate level by the end of 2026.