UAE Central Bank sets up 'sovereign AI' company with tech firm Presight

New entity to offer AI-powered solutions for UAE's critical financial infrastructure

Last updated: July 23, 2025 | 07:24

Manoj Nair, Business Editor

1 MIN READ

Presight is among the handful of UAE technology companies that have gone for stock market listings. The venture with UAE Central Bank represents a major milestone for the Abu Dhabi company.

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Dubai: The Abu Dhabi tech company Presight has launched a joint venture with the UAE’s Central Bank to deliver AI-enabled solutions and support for the country’s Jaywan fcard and Aani payments network.

The new venture will have a ‘central role’ in the development, maintenance and technical support of critical financial market infrastructure.

Also Read: UAE's Jaywan debit cards to offer special deals on launch

This will include the Jaywan domestic card scheme, the Aani instant payments platform, the UAE Central Bank Digital Currency infrastructure and the National Card Switch. Support will also extend to the UAE’s Real-Time Gross Settlement (RTGS) system, and Open Finance (Nebras).

“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,” said a statement.

The UAE Central Bank had launched multiple projects in recent years to create a robust domestic financial infrastructure. The biggest initiatives emerging out of this are Jaywan - the debit cards are to be sent out to banking customers in the UAE - and Aani, which helps individuals and businesses to transfer funds instantly.

At the same time, there is the UAE digital currency project.

On ADX, the Presight stock is at Dh3.66, which in the year-to-date is up over 75%.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.