«Ant International» has announced that it has received preliminary approvals from the Central Bank of the UAE for two key licenses in the payment sector.
These initial approvals include a license for “Stored Value Services” and a license for “Retail Payment Services and Card Schemes,” which are essential requirements for obtaining the full licenses necessary to commence operations within the country.
The company stated that upon receiving the final licenses, it intends to offer a variety of services such as commercial payment collection, payment aggregation, digital wallet issuance, as well as local and cross-border money transfer services.
In addition, the company has entered into a memorandum of understanding with the Abu Dhabi Investment Office aimed at fostering innovation in the fintech sector within the Emirate of Abu Dhabi. Ben Yang, the CEO of Ant International, remarked, “The support provided by the Abu Dhabi Investment Office has been crucial in helping us establish our presence in the UAE capital.”
He further noted that this strategic collaboration is essential to their mission of empowering local businesses, particularly small and medium enterprises, and connecting them with new global growth opportunities.
Yang added that the preliminary approval “reflects the fruitful partnership and shared vision of building an inclusive digital economy driven by innovation,” emphasizing the company’s eagerness to contribute to the UAE’s digital transformation strategy and to enhance its position in the fintech sector.