The UAE’s First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, met with Suzan Kereere, President of Global Markets at PayPal, one of the world’s leading digital payment companies, on Wednesday.
Sheikh Maktoum congratulated PayPal on the launch of its new regional headquarters in Dubai Internet City during the meeting and reaffirmed Dubai’s dedication to fostering its ongoing expansion and prosperity in the area. PayPal’s operations headquarters for 80 countries in the Middle East and Africa will be the new centre.
Sheikh Maktoum also emphasised the UAE’s goal of leading the world’s transition to a digital economy. He emphasised Dubai’s goal to establish a vibrant and robust financial system that promotes creativity, protects confidence, and opens doors internationally. In order to capitalise on the UAE’s advantages in the sector, discussions looked at potential collaborations in digital payment systems, SMEs and e-commerce growth, and improving cross-border financial connections.
He pointed out that Dubai is an ideal starting point for international financial institutions seeking to enter the region’s high-growth emerging markets, due to its sophisticated regulatory framework and cutting-edge digital infrastructure. Under the Dubai Economic Agenda D33, he continued, PayPal’s expanding activities in the area, with Dubai as a base, reflect the city’s growing prominence as a centre for next-generation financial services and its advancement to rank among the top four financial hubs globally. Established in 1998, PayPal facilitates safe and easy online transactions for over 430 million users across more than 200 markets.
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