Edenred UAE, part of the global Edenred Group and a leading provider of payroll solutions in the United Arab Emirates, has received initial approval from the Central Bank of the UAE for its application for a Stored Value Facility licence.<\/p>\n\n\n\n
The approval represents an important step in Edenred UAE\u2019s licensing process as the company continues to strengthen its regulated payroll and financial services operations across the country.<\/p>\n\n\n\n
For more than 18 years, Edenred UAE has played an important role in the country\u2019s payroll ecosystem.<\/p>\n\n\n\n
The company currently provides payroll services to more than 20,000 businesses and over 2.5 million employees across the UAE. It processes monthly salary payments for workers in several industries, including construction, retail, hospitality, logistics, and other major sectors.<\/p>\n\n\n\n
Many of these employees use their payroll cards as their primary financial accounts for receiving salaries and accessing their money.<\/p>\n\n\n\n
Edenred UAE has expanded gradually by building its reputation around operational reliability, regulatory compliance, and secure payroll processing, becoming one of the most widely used payroll solutions in the country.<\/p>\n\n\n\n
The initial approval is one stage of the licensing process administered by the Central Bank of the UAE.<\/p>\n\n\n\n
The process includes an assessment of the company\u2019s governance framework, compliance procedures, cybersecurity systems, operational controls, and ability to meet the regulatory requirements governing stored value services.<\/p>\n\n\n\n
Edenred UAE will continue working to complete the remaining requirements established by the Central Bank before receiving its full Stored Value Facility licence.<\/p>\n\n\n\n
For businesses using Edenred to distribute employee salaries, and for workers receiving their wages through the platform, the initial approval is expected to support service continuity rather than introduce immediate changes.<\/p>\n\n\n\n
Existing payroll services will continue as usual while Edenred UAE proceeds with the remaining steps required to obtain the full licence.<\/p>\n\n\n\n
The milestone also reflects the wider development of the UAE\u2019s financial services sector, particularly in stored value and digital payment products.<\/p>\n\n\n\n
These developments support the country\u2019s efforts to strengthen financial inclusion among workers who do not have traditional bank accounts or have limited access to banking services.<\/p>\n\n\n\n
Claudio De Zani, Managing Director of Edenred Middle East, said the company\u2019s clients place their trust in Edenred to ensure that employees receive their salaries securely and on time.<\/p>\n\n\n\n
He described the Central Bank\u2019s initial approval as an important step towards reinforcing that trust at the highest regulatory standards.<\/p>\n\n\n\n
De Zani added that Edenred UAE remains committed to completing the requirements for the full Stored Value Facility licence and continuing to lead payroll processing services that support economic growth and financial inclusion across the region.<\/p>\n\n\n\n
The Stored Value Facility licensing process supports Edenred UAE\u2019s efforts to provide regulated and accessible financial services to a broad segment of the UAE workforce.<\/p>\n\n\n\n
Payroll cards and digital salary solutions can provide employees with a secure method of receiving, managing, and accessing their wages, particularly for workers who remain underserved by traditional banking institutions.<\/p>\n\n\n\n
By progressing towards a full licence, Edenred UAE aims to strengthen its payroll infrastructure while meeting the regulatory, security, and operational standards established by the Central Bank of the UAE.<\/p>\n\n\n\n
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Edenred UAE, part of the global Edenred Group and a leading provider of payroll solutions in the United Arab Emirates, has received initial approval from the Central Bank of the UAE for its application for a Stored Value Facility licence. The approval represents an important step in Edenred UAE\u2019s licensing process as the company continues […]<\/p>\n","protected":false},"author":37,"featured_media":72448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1772],"tags":[],"class_list":["post-72451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups"],"acf":[],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/72451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=72451"}],"version-history":[{"count":1,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/72451\/revisions"}],"predecessor-version":[{"id":72452,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/72451\/revisions\/72452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/72448"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=72451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=72451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=72451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}