Dubai Chambers to develop digital payment solutions for businesses

Dubai Chambers has signed a Memorandum of Understanding (MoU) with the financial technology company “noqodi” to develop digital payment solutions for the services it provides to the business community.

The agreement comes as part of the chambers’ efforts to support the ‘Cashless Dubai’ strategy, which aims to enable seamless and secure digital payment solutions across the public and private sectors. Under the terms of the agreement, Dubai Chambers will appoint Noqodi as the primary provider of digital payment solutions across all its services.

The company will offer a variety of payment options that contribute to enhancing customer experience and improving the efficiency of digital payment transactions while ensuring the highest standards of data protection.

Khalid Al Jarwan, Vice President of Operations and acting Vice President of Digital and Commercial Sectors at Dubai Chambers, commented: “We are committed to continuously enhancing the quality of services provided across all business sectors to reinforce the emirate’s position as a leading global hub for trade and investments. Developing digital payment channels in collaboration with Noqodi will further advance our drive to support the ease of doing business in Dubai.”

Zahi Kallab, General Manager of Noqodi, said : “We are thrilled to announce a pioneering partnership between noqodi and Dubai Chambers, set to transform payment solutions and significantly enhance community support, driving its evolution. noqodi is committed to creating a seamless, paperless, and community-focused environment that advances sustainability practices. This collaboration will streamline digital transactions, making them faster, easier, and more secure. Through this partnership, noqodi reinforces its dedication to spearhead in payment technologies and support Dubai Chambers transition to a more efficient and interconnected future.”

As a driver of economic development in Dubai, Dubai Chambers plays a key role in facilitating business operations in Dubai, providing value-added services, accelerating business growth, and supporting the interests of the emirate’s dynamic business community, as well as facilitating its interaction with government entities.

Dubai Chambers is committed to playing a key role in achieving the goals of the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the coming decade and cement Dubai’s position among the top three cities globally. The chambers’ strategic priorities include improving Dubai’s favourable business environment, attracting international businesses and investments into Dubai, and driving the international expansion of Dubai Chambers’ members, as well as accelerating the growth of Dubai’s digital economy, increasing the effectiveness of advocacy, and sustaining a climate of institutional and customer excellence.

Dubai Chambers is a non-profit public entity that supports Dubai’s vision as a global player by empowering businesses, delivering innovative value-added services, and unlocking access to influential networks. In March 2021, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the restructuring of Dubai Chamber of Commerce and the formation of three chambers for the emirate, namely Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy, which now operate under the umbrella of Dubai Chambers.

Earlier Dubai Chambers has signed a Memorandum of Understanding with DMCC (Dubai Multi Commodities Centre) aimed at enhancing Dubai’s position as a global destination for digital investments. The agreement will provide access to comprehensive service packages for companies looking to launch and expand from Dubai to the world by leveraging the promising investment opportunities available in key digital economy sectors.

As part of the MoU, DMCC will offer special business setup support packages for companies attracted to the emirate by Dubai Chambers, particularly those specialising in cryptocurrencies, artificial intelligence, and gaming. Companies will also benefit from opportunities to participate in DMCC’s knowledge series events, as well as access the services of DMCC’s compliance hub and tax clinics on a complimentary basis.

Khalid Al Jarwan, Vice President of Operations and acting Vice President of Digital and Commercial Sectors at Dubai Chambers, commented, “Through this agreement with DMCC, we aim to cement Dubai’s position as a global hub for the digital economy and a leading incubator for innovative companies specialising in future-facing sectors. This comes as part of our commitment to attracting global investments to Dubai and developing an advanced digital business ecosystem in the emirate.”