Alaan receives key in-principle approval from the Central Bank of the UAE for SVF and RPS licences
Alaan, the Middle East's largest and most comprehensive spend management platform for businesses, has received in-principle approval from the Central Bank of the UAE (CBUAE) for its Stored Value Facilities (SVF) and Retail Payment Services (RPS) category-II licences. By working closely with the CBUAE, and subject to final regulatory approvals, Alaan will be able to hold customer funds, run cross-border payments, and issue corporate.
Alaan, the Middle East's largest and most comprehensive spend management platform for businesses, has received in-principle approval from the Central Bank of the UAE (CBUAE) for its Stored Value Facilities (SVF) and Retail Payment Services (RPS) category-II licences.
The available reporting does not yet establish a clear practical impact. Read the source for the details reported so far.
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