Commercial Bank International (CBI), one of the UAE’s leading banks, has partnered with Areeba, a global payments technology provider, to enhance fintech payment solutions in the region. This milestone makes CBI the first UAE bank to integrate Areeba’s cutting-edge card and payment solutions, empowering fintech startups with scalable, secure payment infrastructure to thrive in a competitive market.
The collaboration will leverage Areeba’s advanced platform to streamline the development and management of digital payment products. With the UAE hosting 46% of fintech startups in the MENA region and fintech sector assets expected to reach $5.7 billion by 2029, this bank-fintech partnership is a significant step toward bolstering the country’s digital-first economy.
Commercial Bank International (CBI’s) Commitment to Innovation
Ali Sultan Rakkad Al Amri, CEO of CBI, commented, “This partnership underscores our dedication to fostering innovation in the UAE’s financial sector. By equipping fintechs with advanced tools, we aim to accelerate their growth and align with the UAE’s vision of becoming a global fintech hub.”
Maher Mikati, CEO of Areeba, added, “Areeba is excited to work with CBI in supporting fintechs with flexible and efficient payment infrastructure. Our solutions will enable startups to adapt to the evolving payments landscape while meeting their customers’ unique needs.”
CBI continues to deepen its focus on fintech development, with initiatives like its recent collaboration with Zypl.ai, a startup specialising in AI-driven lending solutions. This strategic focus aligns with UAE government initiatives aimed at fostering investment and growth in the financial technology sector.
With this partnership, CBI and Areeba are poised to revolutionise the UAE’s payment ecosystem, paving the way for a robust and innovation-driven fintech landscape.
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