Dubai: The Dubai Government is making a big push towards cashless transactions with the setting up of a ‘Cashless Dubai Working Group’ to prepare an action plan. The intention is to “shift” all payment transactions in Dubai to secure and easy-to-use cashless platforms.

The Working Group will launch a series of initiatives targeting all segments of the community to create the infrastructure and favourable conditions for eliminating the use of cash.

The initiative brings together departments such as Smart Dubai, Dubai’s Department of Finance (DOF), the Supreme Legislation Committee, Dubai Economy, Dubai Police, Dubai Economic Security Centre, Dubai Chamber, and Dubai Tourism and Commerce Marketing.

First step

The Working Group launched the ‘Dubai Cashless Framework Report’, put together by Smart Dubai and Dubai Department of Finance. The Report seeks to promote the use of smart payment platforms for all transactions to phase out physical cash.

Abdulrahman Saleh Al Saleh, Director-General of Department of Finance, said: “Setting and activating a cashless payment framework will advance various aspects of economic activity in Dubai, stimulate thoughtful spending, raise revenue and enhance cost effectiveness, whether at the government or private sector level, in addition to enabling individuals to achieve financial savings in many aspects of life.

“This initiative – the first of its kind in the Middle East and North Africa region – reinforces Dubai’s leadership in the regional financial sector.”