The Central Bank of the UAE (CBUAE) and Presight announced on Wednesday the launch of a groundbreaking joint venture aimed at supporting the central bank’s Financial Infrastructure Transformation program (FIT).
The new joint venture will deliver sovereign, AI-powered technological platforms and services to support and enhance the UAE’s financial market infrastructure.
It will play a central role in the development, maintenance and technical support of various critical financial market infrastructures, including the Central Bank Digital Currency (CBDC) infrastructure, Instant Payments Platform (Aani), Domestic Card Scheme (Jaywan), National Card Switch, Real-Time Gross Settlement (RTGS) system and Open Finance (Nebras).
The agreement was signed by His Excellency Ebrahim Obaid Al Zaabi, assistant governor for monetary policy and financial stability at CBUAE, and Mr. Thomas Pramotedham, CEO of Presight.
Commenting on the agreement, Al Zaabi explained that the collaboration marks a strategic step toward ensuring the UAE’s financial market infrastructure remains resilient, secure, efficient and future-ready, while also supporting the accelerated transformation of the financial sector.
“By leveraging the leading role of the CBUAE’s Financial Infrastructure Transformation Program and the technological expertise of Presight, this venture will strengthen the financial ecosystem of the UAE and the national economic stability, thereby enhancing the country’s position as a global financial hub,” he added.
For his part, Presight’s Pramotedham emphasized the transformative nature of the partnership, noting that it represents a decisive leap forward in applying advanced AI to the heart of the UAE’s financial infrastructure.
“It is purpose-built to accelerate innovation, enhance resilience and ensure the seamless evolution of critical financial systems. By focusing exclusively on AI-driven financial solutions, we are creating a sovereign finance technology powerhouse that will redefine how financial markets operate—faster, with applied intelligence, and more securely than ever before,” he said.
