The Central Bank of the UAE and Pressite, a company specializing in AI analytics and big data, have announced a joint initiative to establish a firm aimed at bolstering the country’s financial infrastructure transformation program initiated by the Central Bank.
The signing ceremony was attended by Khaled Mohammed Balama, Governor of the Central Bank, Mansour Ibrahim Al-Mansoori, Executive Council member of Abu Dhabi and Chairman of the Department of Health—Abu Dhabi, and Saif Al-Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank.
The agreement was signed by Ibrahim Obaid Al-Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank, and Thomas Bramoetidham, Chief Executive Officer of Pressite.
This initiative aims to deliver services and provide technology platforms powered by artificial intelligence to enhance and support the financial market infrastructure in the UAE.
The project will play a vital role in the development, maintenance, and support of multiple infrastructures for the Central Bank’s digital currency “Digital Dirham,” the immediate payment platform “Ani,” the local payment card system “Gion,” the national payment card operator, as well as the instant gross settlement system and the open finance system “Nibras.”
Ibrahim Al-Zaabi stated that this collaboration is a strategic step to strengthen the resilience, efficiency, and security of the UAE’s financial market infrastructure and to ensure its readiness for the future.