Yalla Financial Solutions, a leading financial technology company operating across the Egypt, United Arab Emirates, Saudi Arabia, and Pakistan, today announced that it has received an In-Principle Approval (IPA) from the Central Bank of the UAE (CBUAE) for a Retail Payment Services (RPS) – Category II License, in accordance with the Retail Payment Services and Card Schemes Regulation.
The in-principle approval marks a significant milestone in Yalla Financial Solutions’ regional expansion strategy and reinforces the company’s commitment to delivering secure, innovative, and compliant payment solutions that support the UAE’s vision of becoming a global leader in digital finance and financial innovation.
Once the remaining regulatory requirements are fulfilled and the final license is granted, Yalla will be positioned to further strengthen its payment capabilities in the UAE, enabling enhanced payment services, greater operational oversight, and an even more seamless and secure payment experience for consumers, merchants and enterprises.
The milestone reflects Yalla’s long-term strategy of investing in next-generation payment infrastructure that empowers businesses, accelerates digital commerce, and advances financial inclusion across the region. By expanding its presence in the UAE, Yalla aims to contribute to one of the world’s fastest-growing digital economies while supporting the increasing demand for secure, scalable, and locally compliant financial technology solutions.
Waleed Sadek, CEO & Founder of Yalla Financial Solutions, said:
“Receiving the In-Principle Approval from the Central Bank of the UAE is a significant milestone in Yalla’s journey and reflects our unwavering commitment to building trusted, secure, and innovative payment infrastructure in one of the world’s most advanced digital economies.
The UAE has established itself as a global hub for financial innovation through its progressive regulatory environment and ambitious vision for digital transformation. We are proud to be part of this journey and look forward to working closely with the Central Bank of the UAE to complete the remaining regulatory requirements and obtain the final Retail Payment Services Category II License.
At Yalla, our vision extends beyond enabling digital payments. We are building an integrated financial ecosystem that empowers consumers, merchants, and businesses through intelligent, scalable, and locally compliant financial technology. This milestone further strengthens our ambition to become one of the region’s leading digital financial platforms.”
The UAE continues to play a pivotal role in shaping the future of digital payments through forward-looking regulation and continuous investment in innovation. Yalla’s in-principle approval further strengthens its position to support this transformation by expanding its capabilities and delivering world-class payment experiences that meet the evolving needs of consumers and businesses alike.
About Yalla Financial Solutions
Yalla Financial Solutions is a leading financial technology company operating across the Egypt, United Arab Emirates, Saudi Arabia, and Pakistan, delivering innovative digital payment solutions for consumers, merchants, enterprises, and financial institutions.
In Egypt, Yalla has built one of the country’s leading digital financial ecosystems through two flagship platforms. The Yalla Super App, launched in partnership with Visa, provides consumers with more than 50 integrated financial and lifestyle use cases through a single mobile application, including payments, money transfers, bill payments, mobile top-ups, transportation, online shopping, entertainment, and a wide range of digital financial services.
Today, the Yalla Super App serves more than 2 million active users, having processed over 15 million transactions with a total transaction value exceeding EGP 14 billion.
Complementing the consumer platform, the Yalla Merchant Super App offers merchants more than 20 integrated business use cases, including payment acceptance, QR payments, digital collections, business management tools, value-added services, and financial solutions, enabling businesses of all sizes to digitize their operations and accelerate growth.
Driven by innovation, security, and regulatory compliance, Yalla continues to invest in next-generation payment technologies and digital financial infrastructure that empower consumers, merchants, enterprises, and financial institutions while advancing financial inclusion and accelerating the growth of the digital economy across the Middle East.