CBUAE, Mercury launch strategic joint venture to strengthen UAE’s national financial market infrastructure

emirates7 - The Central Bank of the United Arab Emirates (CBUAE) and Mercury have announced the establishment of a strategic joint venture named Unitey Business Services, created to support the Central Bank’s Financial Infrastructure Transformation (FIT) programme.

This new venture is designed to strengthen the UAE’s national financial market infrastructure by enhancing system efficiency, resilience, and business continuity across various platforms.

By combining the CBUAE’s strategic direction with Mercury’s expertise in payment technologies and infrastructure services, the initiative forms a strong public-private partnership that reinforces the UAE’s sovereignty over its critical financial systems.

The joint venture was officially launched during a signing ceremony attended by Khaled Mohamed Balama, Governor of the CBUAE; Muzaffar Khokhar, Executive Chairman of Mercury; and Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the Central Bank.

The agreement was signed by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, and Muzaffer Hamid, CEO of Mercury.

Commenting on the partnership, Al Zaabi stated: “This venture embodies our vision to develop an innovative, resilient, and inclusive payments infrastructure for the UAE. Through our collaboration with Mercury, we are leveraging international best practices to accelerate the digital transformation of the nation’s financial ecosystem.”

Muzaffar Khokhar added: “We are proud to collaborate with the CBUAE on this landmark initiative, which is central to the FIT programme’s success. It reflects our shared commitment to building a secure, inclusive, and future-ready payments system for the UAE.”