Yalla Secures UAE Central Bank Approval to Expand Digital Payments
Yalla Financial Solutions has received in-principle approval from the Central Bank of the UAE (CBUAE) for a Retail Payment Services (RPS) Category II licence, marking a significant milestone in its regional expansion and positioning the company to broaden its digital payments offering in one of the Middle East’s fastest-growing fintech markets.
The approval, granted under the CBUAE’s Retail Payment Services and Card Schemes Regulation, allows Yalla to move closer to launching regulated payment services in the UAE once it fulfils the remaining regulatory requirements and secures its final licence.
Strengthening payment infrastructure
Following final regulatory approval, Yalla plans to expand its payment capabilities for consumers, merchants and enterprises across the UAE. The company aims to provide faster, more secure and locally compliant payment services while supporting the country’s ambitions to become a global hub for digital finance.
According to the company, the future portfolio will include:
- Payment gateway services
- Payment aggregation
- Online and in-store merchant payment acceptance
- QR code payments
- SoftPOS solutions
- Payment orchestration
- Tokenisation services
- Recurring payment capabilities
- Value-added payment services
CEO highlights UAE fintech ambitions
Waleed Sadek, CEO and Founder of Yalla Financial Solutions, described the approval as an important milestone for the company.
He said the decision reflects Yalla’s commitment to building secure, innovative and compliant payment infrastructure while supporting the UAE’s vision of becoming one of the world’s leading digital economies. Sadek added that the company will continue working closely with the central bank to complete the remaining licensing requirements before launching its expanded services.
Supporting digital commerce
Yalla currently operates across Egypt, the UAE, Saudi Arabia and Pakistan, offering digital payment solutions for consumers, merchants and financial institutions. The company said the UAE approval aligns with its broader strategy of investing in next-generation payment infrastructure, accelerating digital commerce and improving financial inclusion across the region.
The move comes as the UAE continues to strengthen its regulatory framework for digital payments, encouraging innovation while ensuring payment providers meet strict compliance and security standards. The country’s central bank has recently approved several fintech initiatives aimed at expanding the local digital payments ecosystem.