The Central Bank of the UAE, in collaboration with Mercury, has launched a joint venture called Unity Business Services. This initiative is designed to support the financial infrastructure transformation program introduced by the Central Bank.
The announcement made by the Central Bank yesterday indicates that this project will enhance the efficiency of the national financial market infrastructure, aligning with the highest global standards and practices.
This venture represents a robust model of partnership between the public and private sectors and underscores the Central Bank’s commitment to maintaining national sovereignty over vital financial systems.
A signing ceremony took place, attended by His Excellency Khaled Mohammed Balama, Governor of the Central Bank, Mozafar Khokhar, Chairman of Mercury, and Saif Al Dhaheri, Assistant Governor of the Central Bank for Banking Operations and Support Services.
The signing was carried out by Ibrahim Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability, and Mozafar Hamid, CEO of Mercury. Ibrahim Al Zaabi stated that this strategic project reflects our ambition to establish a future-ready payment infrastructure.