Al Ansari Digital Pay Secures Final Approvals for Digital Wallet

25 Mar 2025 CW Team

Al Ansari Digital Pay, the fintech arm of Al Ansari Financial Services PJSC (DFM: ALANSARI), has received final approvals from the Central Bank of the UAE (CBUAE) for its Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses. This paves the way for the official launch of its Al Ansari Wallet in Q2 2025.

The SVF license enables digital account creation, while the RPSCS license allows prepaid card issuance, merchant payments, and online acquiring services. The wallet aims to enhance financial inclusion, providing digital payment solutions for unbanked and underbanked communities.

“This milestone brings us closer to revolutionising digital payments in the UAE,” said Mohammad Bitar, Deputy Group CEO, Al Ansari Financial Services.

Al Ansari Digital Pay projects AED 12 million in first-year revenue, targeting a 67 per cent CAGR by year three. The company is integrating AI, data analytics, and secure payment gateways to enhance fraud prevention, user experience, and financial accessibility.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..