Maktoum Bin Mohammed Engages With PayPal President On Digital Economy Initiatives In Dubai
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, recently met with Suzan Kereere, President of Global Markets at PayPal. During their meeting, H.H. congratulated PayPal on opening its new regional hub in Dubai Internet City. This hub will serve as PayPal’s operational base for 80 countries across the Middle East and Africa.
Sheikh Maktoum emphasised Dubai's ambition to be a leader in the global shift towards a digital economy. He highlighted the city's goal to create a dynamic financial ecosystem that fosters innovation and trust while unlocking cross-border opportunities. The discussions also explored potential partnerships in digital payment systems to support SMEs and e-commerce growth.
The UAE’s advanced regulatory environment and digital infrastructure make it an attractive base for global financial institutions aiming to expand into high-growth markets. Sheikh Maktoum noted that PayPal’s expanding operations in the region reflect Dubai's growing status as a hub for next-generation financial services.
PayPal was founded in 1998 and serves over 430 million customers across more than 200 markets. The company enables secure digital transactions and processed nearly $1.7 trillion in payment volume, recording $31.8 billion in net revenue in 2024.
The meeting also included discussions on enhancing cross-border financial connectivity by leveraging the UAE’s strengths in the industry. This aligns with Dubai's vision under the Dubai Economic Agenda D33 to become one of the world’s top four financial centres.
The meeting was attended by prominent figures such as Helal Almarri, Director General of the Dubai Department of Economy and Tourism; Hesham Al Qassim, Vice Chairman and Managing Director of Emirates NBD; and Malek Al Malek, Chairman of TECOM Group.
Sheikh Maktoum reiterated Dubai's commitment to supporting PayPal's growth and success in the region. He underscored that Dubai’s regulatory framework is designed to support innovation while ensuring trust within its financial ecosystem.
With inputs from WAM
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