Central Bank of the UAE (CBUAE) granted in-principle approval to Avenues World FZ LLC (step-down subsidiary of AvenuesAI Limited) for a Retail Payment Services - Category III License
Approval granted vide Letter No. CBUAE/BIS-L/2026/3197 dated June 04, 2026
Approval granted in accordance with Retail Payment Services and Card Schemes Regulation
Subsidiary Information
Avenues World FZ LLC is a step-down subsidiary of AvenuesAI Limited (formerly known as Infibeam Avenues Limited)
The subsidiary has been operating in digital payment services in UAE since 2015
Currently powers digital transactions for thousands of merchants in UAE
Expected Impact and Strategic Rationale
Expected to strengthen the subsidiary's position in the rapidly growing digital payments ecosystem in UAE
Enables acceleration of business growth and expansion of customer reach
Will allow offering innovative payment solutions across UAE
Focus will continue on facilitating cashless transactions and enhancing the e-commerce ecosystem
Expected to create long-term value, strengthen market credibility, and support sustainable growth
Benefits to AvenuesAI Limited include enhanced strategic opportunities and potential value appreciation
Additional Information
The details are available on the company website at www.avenuesai.com
No withdrawal, cancellation, or suspension of license applicable
