Dubai, United Arab Emirates – In a landmark move to support Dubai’s ambition of becoming a cashless society, Transguard Group has signed a Memorandum of Understanding with the Department of Finance (DOF). This strategic partnership is designed to enhance digital payment initiatives across the emirate, with both parties committing to a shared vision of safe, efficient and inclusive financial transactions for consumers, merchants and service providers.

“This agreement with DOF is a significant step in our shared mission to create a digitally empowered economy,” said Rabie Atieh, Chief Executive Officer, Transguard Group. “By combining our expertise in cash management and smart financial technologies with DOF’s strategic leadership, we are proud to contribute to a future where digital payments are the norm, not the exception.”

The MOU outlines a comprehensive framework for collaboration, including the exchange of knowledge and data, the development of smart payment channels, and the formation of specialised task forces to accelerate innovation in the financial sector. The partnership will also focus on building national capabilities, launching awareness campaigns and enhancing digital infrastructure to support a cashless society.

Ahmad Ali Meftah, Executive Director Central Accounts Sector, DOF, commented: “This partnership with Transguard Group reflects our commitment to advancing the Dubai Cashless Strategy. Together, we aim to foster a culture of trust in digital payments, support financial inclusion and ensure that our digital infrastructure is equipped to meet the evolving needs of consumers, merchants and service providers.”

Amna Lootah, Director of the Digital Payments Regulatory Division at DOF, said: “Our collaboration with Transguard Group reflects DOF’s commitment to fostering partnerships that accelerate digital adoption across Dubai. Together, we aim to deliver solutions that enhance trust in digital payments and make everyday transactions easier, safer and more accessible for everyone.”

As part of its contribution, Transguard will leverage its end-to-end cash management solutions, including ATM channel management and smart cash deposit machines, to support the transition to digital platforms.

The collaboration will further include joint educational initiatives, stakeholder workshops and the exploration of FinTech solutions that meet the needs of both institutions and individuals, reinforcing Dubai’s position as a global leader in financial innovation.

About Transguard Group
Offering flexible solutions for all of the UAE’s staffing needs since 2001, Transguard Group is the region’s most trusted expert in security, facilities management, cash services and white-collar staffing, and more. With an annual turnover of AED 3.2 billion in FY24/25, Transguard’s expertise is in supplying the right people for its clients, precisely when and where they’re needed. To learn more, visit www.transguardgroup.com.

For media queries
Lena ter Laare
Director – Marketing, Communications & CSR
lena.terlaare@transguardgroup.com
Mobile: +971 50 899 7953

About the Department of Finance
The Department of Finance (DOF) for the Government of Dubai was established in 1995 under Law no. (5), to supervise all financial and accounting affairs of the Government of Dubai, in addition to issuing consolidated financial statements for the emirate's government. DOF is responsible for the development of the government's general annual budget and its execution in cooperation with all relevant local government entities. Furthermore, DOF provides liquidity, including transferring sanctioned budgetary allocations to all relevant government entities. It also oversees the preparation and development of financial resources, and verifies the collection and provision of general revenues, while also supervising government banking accounts. Dubai Finance strives to provide innovative financial services and enrich the culture of public expenditure optimisation, adhering to the highest local and global standards.

For media queries
Jehad Numan Kamal
Senior Specialist – Media & External Communications
Department of Finance – Government of Dubai
jkamal@dof.gov.ae
Mobile: +971 50 429 9150