Business Update4 Jun 2026, 06:41 pm
Avenues World FZ LLC Gets In-Principle Approval for UAE Payment License
AI Summary
AvenuesAI Ltd announced that its step-down subsidiary, Avenues World FZ LLC, has received in-principle approval from the Central Bank of the UAE (CBUAE) for a Retail Payment Services - Category III License. This approval is expected to bolster the subsidiary's position in the UAE's digital payments ecosystem, enabling business growth, expanded customer reach, and the introduction of innovative payment solutions. Avenues World, a long-standing player in UAE digital payments since 2015, aims to enhance cashless transactions and the e-commerce landscape, creating long-term value and supporting sustainable growth for the company.
Key Highlights
- Step-down subsidiary Avenues World FZ LLC received in-principle approval for UAE payment license.
- License is for Retail Payment Services - Category III from Central Bank of UAE.
- Approval expected to strengthen digital payments ecosystem presence and accelerate growth.
- Aims to expand customer reach and offer innovative payment solutions in UAE.
- Enhances cashless transactions and e-commerce landscape, creating long-term value.
Price Impact
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