Ziina Card Wallet
Financial platform Ziina has secured crucial Ziina CBUAE licenses covering retail payment services and currency exchange operations from the Central Bank of the UAE. The regulatory approval establishes the Dubai-based entity as the first homegrown financial technology firm to hold authorizations across retail payments, stored value, and exchange services.
The company initially obtained its Stored Value Facility license in June 2024 to support digital wallet operations. In August 2026, the central bank granted Category IV exchange business authorization under that existing framework. The latest Category III retail payment services permit expands the regulated remit of the company to include merchant acquiring, payment aggregation, and domestic money transfers.
Expansion Under Ziina CBUAE Licenses
The expanded regulatory base provides formal coverage for multiple merchant acceptance tools. Businesses using the platform can collect funds through customizable payment links, QR code scanning, online payment gateways, and contactless smartphone acceptance.
These merchant services run on both iOS and Android hardware via mobile apps. Consequently, the firm now delivers end-to-end payment processing directly for corporate and retail accounts across the Emirates.
Operational Metrics and Market Reach
The regulatory milestone follows rapid user adoption across the country. Ziina currently serves more than 500,000 customers annually and processes over $1.5 billion in annualized transaction volume.
In addition, one in ten small and medium enterprises in the United Arab Emirates uses the system for daily commerce. Growth in transaction volume aligns with a broader surge in national digital payments. According to the CBUAE Annual Report 2025, retail transfers through the UAE Funds Transfer System reached AED 9.9 trillion across 114.9 million transactions, representing a 19.9 percent increase in total value.
Executive Perspectives and Platform Goals
Faisal Toukan, Co-Founder and Chief Executive Officer at Ziina, noted that the approvals establish a clear base for wider operations across regional borders.
“We are thankful for the continued support of the Central Bank of the UAE. These licenses give us the regulatory framework to build faster and go further. Today, people use different apps and providers for different parts of their financial lives. We want to bring more financial services into one platform, from spending and holding money to sending it abroad.”
Faisal Toukan, Co-Founder and CEO of Ziina
The enterprise was founded in 2020 by Faisal Toukan, Sarah Toukan, and Talal Toukan to provide consumer and corporate payment utilities. Through the updated Ziina CBUAE licenses, the founders plan to consolidate fragmented banking activities into unified digital accounts.
Future Outlook for Cross-Border Services
The Category IV exchange authorization allows the company to roll out direct international money remittances inside its consumer app. Furthermore, management confirmed sustained investments in underlying technical infrastructure to expand consumer features beyond the UAE.
By unifying payments, digital cards via Apple Pay and Google Pay, and currency exchange, the firm seeks to compete directly with legacy commercial banks. In conclusion, the formalization of the complete Ziina CBUAE licenses establishes a precedent for domestic financial technology regulation in the Gulf region.
