Dubai Offers Exemplary Environment for Financial and Business Enterprises, Says Sheikh Maktoum bin Mohammed

Dubai's Deputy Ruler Sheikh Maktoum bin Mohammed Al Maktoum met with PayPal's global CEO Alex Chriss to discuss strengthening the UAE's position as a major financial hub. The meeting comes after PayPal opened its first Middle East and Africa headquarters in Dubai Internet City earlier this year, marking a significant expansion for the digital payments giant in the region.

The discussion focused on how the UAE has built itself into a central player in global finance through consistent innovation and economic flexibility. Sheikh Maktoum emphasized Dubai's commitment to creating partnerships with leading international financial companies, especially those embracing digital technologies that align with the country's digital economy goals.

PayPal's regional headquarters, which opened in Dubai Internet City in April, represents the company's first major operational base serving the Middle East and Africa markets. This move positions PayPal to tap into growing consumer markets across these regions, where digital payment adoption has been accelerating rapidly.

Sheikh Maktoum highlighted Dubai's competitive advantages for global financial institutions: robust digital infrastructure, flexible regulatory frameworks, and a business-friendly environment that helps companies access high-growth markets. These factors have made Dubai increasingly attractive to fintech companies looking to expand beyond traditional Western markets.

The meeting included several key Dubai officials, including Helal Saeed AlMarri from Dubai's Department of Economy and Tourism, and Hamad Obaid Al Mansoori from Dubai Digital Authority. Their presence signals the government's hands-on approach to supporting major financial technology companies setting up operations in the emirate.

For PayPal, the Dubai base provides access to markets with younger populations and growing middle classes - demographics that typically drive digital payment adoption. The company can now serve customers across the Middle East and Africa more effectively while benefiting from Dubai's position as a regional business hub.