Ziina, the UAE-based consumer and business financial platform, has secured its Retail Payment Services Category III license and authorization to conduct Exchange Business Category IV activities from the Central Bank of the UAE (CBUAE). The approvals complete a phased regulatory journey and make Ziina the first homegrown UAE fintech company to hold authorizations across stored value, retail payments, and exchange activities. This milestone provides the regulatory foundation to expand financial services for consumers and merchants through one platform.
A Consolidated Regulatory Footprint
Ziina first received its Stored Value Facility license in June 2024, authorizing the company to operate digital wallets and hold customer balances. The newly awarded Retail Payment Services Category III license extends regulated capabilities to merchant acquiring, payment aggregation, and domestic fund transfers. In August 2026, the CBUAE also authorized Ziina to conduct Exchange Business Category IV activities under its existing Stored Value Facility license.
Merchant Acceptance and Digital Payments
The retail payment services authorization covers Ziina's merchant acceptance products, including payment links, QR payments, Tap to Pay, and its online payment gateway. These tools enable businesses to accept domestic payments through a single regulatory framework without relying on third-party sponsorship. The license strengthens Ziina's ability to serve merchants across the UAE with compliant and integrated payment infrastructure.
International Transfer Capabilities
The Exchange Business Category IV authorization expands Ziina's regulated capabilities to include international money transfers through digital channels. Users can now send funds abroad directly through the Ziina app, alongside spending, holding money, and domestic payment services. This addition positions Ziina to consolidate multiple financial activities within a single proprietary application layer.
Scale and SME Market Penetration
Ziina now serves more than 500,000 customers annually and processes over US$1.5 billion in annualized payment volume. The platform is used by 1 in 10 small and medium-sized enterprises across the UAE, supported by transparent pricing and native merchant features. Founded in 2020 by Faisal Toukan, Sarah Toukan, and Talal Toukan, Ziina has evolved from a peer-to-peer payments provider into a critical operational engine for the UAE business sector.
Market Growth Context
Ziina's expanded regulatory status coincides with rapid growth across the UAE's domestic payment infrastructure. According to the CBUAE's Annual Report 2025, retail fund transfers executed through the UAE Funds Transfer System reached AED 9.9 trillion across 114.9 million transactions in 2025. This represents an annual increase of 19.9% in total transaction value and 17.8% in transaction volume, reflecting an accelerating migration toward digital settlement.
Executive Perspective and Regional Ambitions
Faisal Toukan, co-founder and CEO of Ziina, described the approvals as a regulatory framework to build faster and go further. He said the company aims to bring spending, holding money, and international transfers into one platform rather than requiring separate apps. Toukan added that Ziina's ambition is to enable financial freedom across the Arab world.
The dual authorization marks a significant regulatory milestone for Ziina and the broader Middle Eastern fintech ecosystem. By combining stored value, retail payment, and exchange permissions under direct CBUAE oversight, Ziina can operate an integrated financial platform without fragmented intermediary partnerships. The company is now positioned to scale its unified consumer and merchant offering across the UAE and the wider Arab world.