AvenuesAI Limited, formerly known as Infibeam Avenues, on Thursday said its step-down subsidiary, Avenues World FZ LLC, has received in-principle approval from the Central Bank of the UAE (CBUAE) for a Retail Payment Services Category III Licence, a move expected to strengthen the group’s presence in the Middle East’s digital payments market.
“Central Bank of the UAE has granted In-Principle Approval to our Step Down Subsidiary Company, i.e., Avenues World FZ LLC (“Avenues World”), for a Retail Payment Services – Category III License in accordance with the Retail Payment Services and Card Schemes Regulation,” AvenuesAI said in its exchange filing.
The company informed stock exchanges that the approval was granted through a letter issued by the UAE regulator on June 4, 2026. The licence approval has been awarded to Avenues World FZ LLC under the UAE’s Retail Payment Services and Card Schemes Regulation.
According to the company, the approval is expected to enhance Avenues World’s position in the rapidly expanding digital payments ecosystem in the UAE, enabling it to accelerate business growth, broaden its customer base, and introduce innovative payment solutions.
AvenuesAI said its UAE subsidiary has been operating in the country’s digital payments sector since 2015 and currently powers digital transactions for thousands of merchants. The company added that the regulatory nod would support its efforts to facilitate cashless transactions and further strengthen the e-commerce ecosystem in the region.
The company also stated that the approval is expected to create long-term value, improve market credibility, and support sustainable growth, while opening up strategic opportunities and potential value appreciation for the parent entity.
