Kamel Pay Secures Central Bank Approval, Amplifies UAE Fintech Momentum

Kamel Pay, a homegrown fintech from the UAE, has just secured an important nod from the Central Bank: In-Principle Approval for licences covering Stored Value Facilities (SVF) and Retail Payment Services (RPS). In plain terms, that means the company is now positioned to deliver end-to-end payroll and business payment services across the Emirates—something that could make a real difference for both employers and employees.

The founders described this as more than just a regulatory step. Hussain Al Qemzi, the chairman, said the green light reinforces Kamel Pay’s goal of building a financial ecosystem rooted in trust and inclusion. Co-founder Saadaat Yaqub added that it validates their push for a secure, locally built payments platform. Their chief executive, Ehsan Rahman, explained the company wants to ease the headaches businesses often face handling salaries and suppliers, while giving workers timely access to their wages and day-to-day financial services.

From my own visits to small companies here in the region, I know that managing payroll can be a bit of a faff. Some business owners still juggle spreadsheets late at night, trying not to miss a deadline. So a streamlined, compliant solution—especially one designed with local needs in mind—does sound spot on. Employees, too, often end up queueing at ATMs or waiting days for bank transfers; anything that reduces that stress is likely to get a warm welcome.

On the flip side, I reckon fintechs like Kamel Pay will have to work hard to build lasting trust, especially as competition in the payments space heats up. Customers have become more demanding, and security issues remain a top concern. But the company seems to be aware of that, pointing to “robust governance” and “secure infrastructure” as their cornerstones.

Interestingly, Kamel Pay was recently named as the UAE winner for fintech innovation in the Middle East Technology Excellence Awards 2025 under the Asian Business Review banner. That’s no small feat, and it shows the firm is already getting noticed outside the Emirates.

For me, this approval ties neatly into the UAE’s wider Vision 2030 plan, which champions digital transformation and financial inclusion. At Arageek, we often talk about how fintech has the power to “energise and empower” the startup and SME community. Well… I mean, seeing a local player like Kamel Pay step up with official backing is exactly that in action. And if it reduces the late-night payroll headaches that so many entrepreneurs quietly battle, I’d be chuffed to bits.

So while it’s still early days and licences don’t guarantee smooth sailing, this does feel like a genuinely positive step forward for the UAE fintech scene. And believe it or not, such incremental approvals often pave the way for much bigger shifts in how money moves around the economy.

One small detail caught my eye: the emphasis on employees having “peace of mind.” It’s a reminder that at the end of every financial transaction sits a human being waiting to be paid on time. And that, more than anything, might be where Kamel Pay’s true value will shine—even if the road ahead is definately not without challenges.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!

✉️ Send Us Your Story 👇

https://en.arageek.com/send-us-your-story-or-a-news-tip