Edenred UAE has received in-principle approval from the Central Bank of the UAE (CBUAE) for our application to operate as a licensed Stored Value Facility (SVF) provider. We want to explain what that means, and what it doesn’t yet mean.
What is an SVF license?
The CBUAE’s Stored Value Facility framework regulates providers of prepaid and stored-value payment products in the UAE, setting requirements around safeguarding customer funds, governance, and consumer protection. It’s the regulatory structure that underpins products like salary cards and digital wallets.
What does in-principle approval mean?
This is a significant milestone, but it is not the final license. We now move to complete the remaining steps CBUAE requires before full licensing is granted, and we’ll share updates as that progresses.
Why it matters
For over a decade, Edenred has supported WPS-compliant salary disbursement for businesses across the UAE. This step reflects the trust we’ve built with regulators and the standards we hold ourselves to as that footprint grows.
“Our clients trust us with something deeply personal: making sure their people get paid, safely and on time. Receiving in-principle approval from the Central Bank of the UAE is an important step in earning that trust at the highest regulatory level in the country, and we’re committed to finishing the work ahead to reach full licensing.” – Claudio Di Zanni, Managing Director, Edenred Middle East
What’s next
We’ll continue working with CBUAE to meet the requirements for full SVF licensing, and will update clients, partners, and the public as we do.
