Dubai Cashless Strategy exceeds 2026 targets
Dubai Finance announced that the Dubai Cashless Strategy, launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, in October 2024, has successfully exceeded its key targets ahead of its scheduled two-year timeframe.
The results showed that Dubai’s cashless transactions index reached 90.1%, exceeding the 90% target set for 2026. The Digital Enablement Index for the government sector reached 100%, reflecting the availability of digital payment methods across institutions and businesses. Meanwhile, the community happiness index reached 90.1%, compared with the 90% target.
The strategy’s final report, presented by Dubai Finance (DOF) to the Dubai Strategic Affairs Council, highlighted that the achievement reflects the emirate’s rapid progress towards establishing an integrated digital payments ecosystem and advancing digital enablement across both the government and private sectors. This progress has been driven by extensive partnerships among government entities, financial institutions, payment solution providers, and technology and financial services companies.
The report showed that cashless payment initiatives contributed more than AED8 billion to the emirate’s economy. The strategic roadmap achieved strong results across the strategy’s three pillars, with 97% achieved in governance, 95% in society, and 93% in innovation, while operational business continuity was also maintained to ensure the sustainability of these results and maximise their long-term impact.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum commended the combined efforts of the government and private sectors that contributed to this achievement.
H.H. affirmed that the Strategy reflects the success of Dubai’s model, which is built on a clear vision, integrated roles between the government and private sectors, and the expanding use of technology and innovation to serve people and enhance economic competitiveness.
H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, and Chairman and Chief Executive of Emirates Airlines and Emirates Group, said that the progress achieved by the Dubai Cashless Strategy enhances Dubai’s competitiveness as a global destination for business, investment, and tourism by providing a more seamless and efficient payment experience for the business community and visitors.
H.H. underscored the importance of coordinating efforts across free zones, the aviation sector and other economic sectors to broaden the adoption of digital payment solutions, pointing out that this will facilitate the journeys of investors, customers, and visitors and support a more flexible and connected business environment. His Highness added that the partnership between the government and private sector is a key pillar in developing innovative solutions that meet the needs of global markets and reinforce Dubai’s position as an international hub for business, tourism, and the digital economy.
The government sector recorded advanced performance across cashless transformation indicators under the Dubai Cashless Strategy. Government cashless collections reached 99.66% during the first half of 2026, while the Digital Enablement Index of the government sector reached 100%. The number of strategic partnerships established by Dubai Finance with government entities and private-sector businesses exceeded 70, while the strategic accelerators achieved 95% completion during the first half of the year.
Abdullah Mohammed Al Basti, Secretary General of The Executive Council of Dubai, said: “Dubai continues to lead in shaping the future of the economy and creating new opportunities, reinforcing its position as a global hub for world-class solutions and technologies. The strong results achieved by the Dubai Cashless Strategy, which exceeded its targets, reflect the effective integration of ambitious economic plans with government policies that encourage the adoption and development of global best practices.”
“This has enabled Dubai to rank first globally across several indicators related to ease of doing business, investment attraction, and proactive adoption of smart technologies. It also demonstrates the strength of Dubai’s government operating model and its ability to translate strategic objectives into tangible results through the integration of government entities’ roles and partnerships with the private sector.
The transition towards a cashless economy enhances resilience and efficiency, facilitates access to finance, and creates an economic environment characterised by ease and reliability of transactions, reflecting strong confidence in Dubai’s economy and reinforcing its position as an investment destination and a global platform for the economy of the future,” he added.
Abdulrahman Saleh Al Saleh, Director-General of DOF, said: “Exceeding the 2026 cashless transactions target represents a key milestone in the strategy, particularly as it coincides with high levels of digital enablement and community happiness, as well as significant progress in digitising government collections.”
“The results achieved by the Dubai Cashless Strategy reflect the depth of the transformation taking place across Dubai’s payments ecosystem. Our focus in the next phase will be on sustaining these results, expanding the scope of digital solutions, deepening our partnerships with the government and private sectors, and continuing to develop a flexible, secure payment ecosystem that keeps pace with the latest global innovations,” he concluded.
The cashless transactions index is based on a range of key sources, including data from the Central Bank of the UAE, Transguard, payment acquirers, international payment networks, Dubai Finance, and relevant government entities in Dubai.
