The Central Bank of the United Arab Emirates (CBUAE) and Mercury have officially launched a strategic joint venture, Unitey Business Services, as part of efforts to advance the UAE’s Financial Infrastructure Transformation (FIT) programme. This initiative aims to elevate the efficiency, resilience, and business continuity of the country’s national financial market infrastructure.
Advancing sovereign financial systems
Through this partnership, CBUAE and Mercury are aligning strategic goals with technological expertise to deliver a future-ready payments ecosystem. Unitey Business Services is expected to play a central role in strengthening the UAE’s critical financial infrastructure, supporting national sovereignty over key platforms and systems. The venture will adhere to the highest global standards while promoting financial inclusion and operational excellence.
The official signing ceremony was attended by senior leadership from both organisations, including His Excellency Khaled Mohamed Balama, Governor of the CBUAE; Mr. Muzaffar Khokhar, Executive Chairman of Mercury; and His Excellency Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE. The agreement was formally 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.
Commitment to innovation and inclusion
His Excellency Ebrahim Obaid Al Zaabi stated, “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 practices and capabilities as we drive the digital transformation of the UAE’s financial ecosystem.”
Echoing this sentiment, Mr. Muzaffar Khokhar remarked, “We are honoured 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 programme and highlights our mutual dedication to creating a secure, inclusive, and future-ready payments infrastructure for the nation.”
As the UAE continues to drive forward its digital economy strategy, the formation of Unitey Business Services signals a major step in unifying technology and policy to secure a robust and inclusive financial future.
