Yalla Financial Solutions has received an In-Principle Approval (IPA) from the Central Bank of the UAE (CBUAE) for a Retail Payment Services (RPS) Category II License, marking a key milestone in the company’s expansion strategy across the region.
The approval, granted under the CBUAE’s Retail Payment Services and Card Schemes Regulation, reinforces Yalla’s commitment to providing secure, innovative, and fully compliant payment solutions while supporting the UAE’s ambition to become a global leader in digital finance and financial innovation.
Once Yalla fulfills the remaining regulatory requirements and receives the final license, the company will be able to further expand and strengthen its payment services in the UAE.
Waleed Sadek, CEO and Founder of Yalla Financial Solutions, described the In-Principle Approval as a major achievement for the company, highlighting its commitment to developing trusted, secure, and innovative payment infrastructure in one of the world’s most advanced digital economies.
He added that the UAE’s progressive regulatory framework and strong focus on digital transformation have established the country as a leading global financial innovation hub. Sadek also said Yalla looks forward to working closely with the Central Bank of the UAE to complete the remaining licensing requirements and secure the final Retail Payment Services Category II License.
