Yalla Strengthens Its UAE Presence with CBUAE In-Principle Approval for a Retail Payment Services Category II License
Yalla Financial Solutions, a leading financial technology company operating across Egypt, the United Arab Emirates, Saudi Arabia, and Pakistan, today announced that it has received an In-Principle Approval (IPA) from the Central Bank of the UAE (CBUAE) for a Retail Payment Services (RPS) Category II License, in accordance with the CBUAE's Retail Payment Services and Card Schemes Regulation.
The In-Principle Approval marks a significant milestone in Yalla Financial Solutions' regional expansion strategy and reinforces the company's commitment to delivering secure, innovative, and compliant payment solutions that support the UAE's vision of becoming a global leader in digital finance and financial innovation.
Once the remaining regulatory requirements are fulfilled and the final license is granted, Yalla will be positioned to further strengthen its payment capabilities in the UAE, enabling enhanced payment services, greater operational efficiency, and an even more seamless and secure payment experience for consumers, merchants ,and enterprises.
This milestone reflects Yalla's long-term strategy of investing in next-generation payment infrastructure that empowers businesses, accelerates digital commerce, and advances financial inclusion across the region. By expanding its presence in the UAE, Yalla aims to contribute to one of the world's fastest-growing digital economies while supporting the increasing demand for secure, scalable, and locally compliant financial technology solutions.
Waleed Sadek, CEO & Founder of Yalla Financial Solutions, said:
"Receiving the In-Principle Approval from the Central Bank of the UAE is a significant milestone in Yalla's journey and reflects our unwavering commitment to building trusted, secure, and innovative payment infrastructure in one of the world's most advanced digital economies".
The UAE has established itself as a global hub for financial innovation through its progressive regulatory environment and ambitious vision for digital transformation. We are proud to be part of this journey and look forward to working closely with the Central Bank of the UAE to complete the remaining regulatory requirements and obtain the final Retail Payment Services Category II License.
"At Yalla, our vision extends beyond enabling digital payments. We are building an integrated financial ecosystem that empowers consumers, merchants, and businesses through intelligent, scalable, and locally compliant financial technology. This milestone further strengthens our ambition to become one of the region's leading digital financial platforms.
"The UAE continues to play a pivotal role in shaping the future of digital payments through forward-looking regulation and continuous investment in innovation. Yalla's In-Principle Approval further strengthens its position to support this transformation by expanding its capabilities and delivering world-class payment experiences that meet the evolving needs of consumers and businesses alike."
About Yalla Financial Solutions
Yalla Financial Solutions is a leading fintech company operating across Egypt, the United Arab Emirates, Saudi Arabia, and Pakistan, providing innovative digital payment solutions for consumers, merchants, enterprises, and financial institutions. In Egypt, the company has built a comprehensive digital financial ecosystem through its Yalla Super App for consumers and the Yalla Merchant Super App for businesses. Yalla continues to invest in next-generation payment technologies and digital financial infrastructure to advance financial inclusion, accelerate the digital economy, and deliver secure, scalable, and Shariah-compliant financial solutions while maintaining the highest standards of security, governance, and regulatory compliance.
