The Central Bank of the United Arab Emirates (CBUAE) and Mercury, a UAE-based fintech firm specialising in payments infrastructure and services, have announced the establishment of a joint venture, Unitey Business Services.

The initiative is aimed at supporting the CBUAE’s Financial Infrastructure Transformation (FIT) programme by strengthening the operations of the UAE’s national financial market infrastructure and enhancing efficiency, resilience and business continuity across systems and platforms.

The partnership aligns the CBUAE’s strategic vision with Mercury’s technical expertise, forming a public-private collaboration that reinforces the central bank’s commitment to maintaining national oversight of critical financial systems.

Commenting on the agreement, Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the CBUAE, said:

“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.”

Muzaffar Khokhar, Executive Chairman of Mercury, added:

“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.”

Featured image credit: CBUAE