CBUAE, Presight launch a JV to support the FIT Programme

The Central Bank of the United Arab Emirates (CBUAE) and Presight, a leading Al and big data analytics company, have announced the launch of a groundbreaking joint venture aimed at supporting the Financial Infrastructure Transformation programme (FIT) launched by the CBUAE.

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This strategic partnership marks a major milestone in the UAE's journey to strengthen resilience, and harness artificial intelligence across every facet of its financial ecosystem.

The signing ceremony for the joint venture was witnessed by Khaled Mohamed Balama, Governor of the CBUAE; Mansoor Ibrahim Al Mansoori, Member of the Abu Dhabi Executive Council, Chairman of the Department of Health - Abu Dhabi and Vice Chairman of Presight, and Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at CBUAE.

The agreement was signed by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE and Thomas Pramotedham, Chief Executive Officer of Presight.

The new joint venture will deliver sovereign, Al-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).