Receipt of In-Principle Approval by Avenues World FZ LLC, Step Down Subsidiary Company from Central Bank of the UAE for a Retail Payment Services - Category III License
CCAVENUE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
AvenuesAI Limited's step-down subsidiary, Avenues World FZ LLC, has received an in-principle approval from the Central Bank of the UAE for a Retail Payment Services - Category III license. This category typically permits a wider range of retail payment activities, including payment account services, money transfers, and other payment processing functions within the UAE. The approval is in-principle, meaning it is a preliminary green light and final license issuance is still subject to completing remaining regulatory requirements and conditions.
This is a positive regulatory milestone that strengthens the company's payment services footprint in the UAE and could support future revenue expansion once the final license is granted. Investors should note the approval is not yet final, so actual commercial rollout will depend on completing the remaining steps with the regulator.