The Central Bank of the United Arab Emirates (CBUAE) and Presight, UAE’s leading AI and big data analytics company, have launched a joint venture to support the central bank’s Financial Infrastructure Transformation programme (FIT).
The JV will deliver sovereign, AI-powered technological platforms and services to support and enhance the UAE’s financial market infrastructure. It will play a central role in the development, maintenance, and technical support of various critical financial market infrastructures, including the Central Bank Digital Currency (CBDC) infrastructure, Instant Payments Platform (Aani), Domestic Card Scheme (Jaywan), National Card Switch, Real-Time Gross Settlement (RTGS) system, and Open Finance (Nebras).
The partnership marks a milestone in the UAE’s journey to strengthen resilience, and harness artificial intelligence across every facet of its financial ecosystem.
Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, and Thomas Pramotedham, Chief Executive Officer of Presight, signed the agreement in the presence of Khaled Mohamed Balama, Governor of the CBUAE.
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