Ziina زينة, a prominent financial platform based in the UAE, has recently achieved a noteworthy milestone by securing the Stored Value Facility (SVF) license from the Central Bank of the United Arab Emirates (CBUAE). This positions Ziina as the first local start-up to receive this license.

With the SVF license, Ziina is now poised to enhance its service offerings, including business accounts, peer-to-peer payments, bill payments, and prepaid cards. This move aligns with the UAE Central Bank's broader objectives of promoting innovation and financial inclusion, reflecting Ziina’s growing role in the shift toward a cashless economy.

The digital payments market in the MENA region is anticipated to reach $9 billion by 2028, supported by increasing consumer preference for credit cards and digital wallets. As the UAE works towards significantly boosting the digital economy’s contribution to GDP by 2030, Ziina is positioned to expand its reach across the Middle East and continue its growth trajectory.