The Central Bank of the United Arab Emirates (CBUAE) and Mercury have formed a strategic joint venture, Unitey Business Services, aiming at supporting the Financial Infrastructure Transformation program (FIT) launched by the CBUAE.
This Unitey Business Services JV will enhance the operations of the UAE’s national financial market infrastructure and meet the highest standards and practices in terms of efficiency, resiliencyand business continuity of the different systems and platforms.
By aligning CBUAE’s strategic vision with Mercury’s proven expertise in payments infrastructure technology and services, the venture represents a robust public-private partnership that underscores CBUAE’s commitment to preserving national sovereignty over critical financial systems.
The agreement was signed by His Excellency Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE and Mr. Muzaffer Hamid, Chief Executive Officer of Mercury.
His Excellency Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, said that, “This joint venture reflects our ambition to build a future-focused payments infrastructure that is both innovative and resilient, and promotes financial inclusion across the UAE. Our partnership with Mercury enables us to harness global best practicesand capabilities as we drive the digital transformation of the UAE’s financial ecosystem.”
Mr. Muzaffar Khokhar, Executive Chairman of Mercury, stated that, “We are honored to partner with the Central Bank of the UAE in this strategic venture which plays a central role in advancing the vision of CBUAE’s FIT program and highlights our mutual dedication to creating a secure, inclusive, and future-ready payments infrastructure for the nation.”
