“The Central” gives Kamel Bay initial approval to provide simplified payment solutions

The Emirates Central Bank, Kamel Bay, the Emirati company specialized in financial technology (Finc), initial approval and SVF services, within the two categories of value storage services, which enables it to provide integrated payment services, including salaries, commercial payments and retail payment.

Kamel Bay will provide integrated business solutions to business, which allows employers to manage salaries, suppliers and other expenses easily, efficiently, and comply, while employees can obtain their salaries on time, and take advantage of a package of financial services that make daily money management simpler, safe and comfortable.

“This initial approval confirms our commitment to consolidating a financial system based on confidence, innovation and inclusion, allowing the empowerment of the less fortunate societies and supporting the march of digital transformation in the UAE.”

“This approval reflects our vision in building a reliable Emirati payment platform, and simplifying access to business services for business and employees throughout the country, which prompts the agenda of the comprehensive growth of the Emirates.