areeba has announced that it has received in-principle approval from the Central Bank of the UAE (CBUAE) to operate Stored Value Facilities (SVF) and Retail Payment Services – Category III, under the applicable SVF, Retail Payment Services, and Card Schemes Regulations.
The regulatory approval marks a significant milestone in areeba’s expansion journey in the UAE and underscores the company’s commitment to building a secure, compliant, and scalable payment infrastructure aligned with the highest regulatory, operational, and consumer-protection standards.
areeba expressed its appreciation to the Central Bank of the UAE for its constructive engagement and guidance throughout the approval process. The company also acknowledged the dedication and discipline of its internal teams and partners, whose collective efforts were instrumental in achieving this milestone.
With the in-principle approval secured, areeba will now focus on fulfilling the remaining regulatory requirements toward obtaining final licensing, as it prepares to play an active role in supporting the UAE’s rapidly evolving digital payments ecosystem.
