A strategic memorandum of understanding was signed during the third Dubai FinTech Summit, which commenced in Dubai with over 9,000 participants from the financial sector, fintech innovators, investors, policymakers, and over 300 speakers representing more than 120 countries.

The agreement involved the Dubai International Financial Centre (DIFC), the Mohammed bin Rashid Leadership Academy, Dubai’s Human Resources Department, and Emirates NBD Bank, with a focus on empowering a new generation of Emirati talent in the financial sector through advanced training programs, innovation emphasis, and leadership skill development.

Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and CEO of Emirates and Group, highlighted in a post that investment in national competencies is fundamental to achieving Dubai's vision of building a competitive global financial technology ecosystem.

He stated that this partnership aims to advance innovation and skill development crucial for economic growth.

In a separate development, Muro, an integrated data solutions provider and a subsidiary of Dubai Electricity and Water Authority's digital arm, signed a memorandum of understanding with DIFC during the summit.

This agreement is aimed at accelerating digital innovation and sustainability, establishing Dubai as a global leader in financial services and technology.

The memorandum was signed by Mohammed bin Suleiman, CEO of Muro, and Alia Al Zarouni, COO of DIFC Authority, in the presence of several high-ranking officials.

Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, emphasized that this strategic partnership reflects Dubai's commitment to expedite digital transformation and enhance its international standing.

The collaboration aims to enable organizations to leverage cutting-edge digital solutions, supporting sustainable growth and creating new opportunities in line with Dubai's economic agenda D33, which seeks to double the emirate’s economy over the next decade.

Additionally, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Vice President of the Council of Ministers, led the first meeting of the Higher Committee for Development and Citizens Affairs for the year 2025. During the meeting, several initiatives and projects aimed at improving quality of life for citizens were approved, including an executive plan for community endowment banks with total assets of 10 billion dirhams, expected to generate revenues of 1 billion dirhams by 2033.

The meeting acknowledged several socio-economic achievements, including the employment of over 33,470 citizens in both public and private sectors, the implementation of 1,315 housing units, the provision of 10,131 residential land grants, and 9,204 housing loans.

Notably, 426 citizens were relieved of housing loan defaults totaling 146 million dirhams last year.

Sheikh Hamdan emphasized the continued focus on the welfare of citizens as a core aspect of Dubai’s development plans, directly aligning with the directives of Sheikh Mohammed bin Rashid Al Maktoum.

The goal is to enhance the quality of life through a variety of initiatives, including a new program for retirees aimed at improving their lifestyle and ensuring active community participation.

This initiative will provide diverse community services, focusing on health, financial security, social interaction, and lifelong learning opportunities.

Another program called ‘Ghamran Camp’ was introduced to promote family bonding by facilitating camping experiences in the Dubai desert for parents and children, fostering essential skills tied to Emirati heritage.

Furthermore, the overall strategy reaffirms Dubai's commitment to social welfare, education, and community development, ensuring that both innovative and traditional values contribute to the emirate's socio-economic framework.