Alaan Secures Key Approval from UAE Central Bank

Sep 3, 2026

59 min

Sep 3, 2026 11:30

Alaan receives key in-principle approval from the Central Bank of the UAE for SVF and RPS licences

## Alaan's Strategic Milestone

Alaan, a leading spend management platform in the Middle East, has achieved a significant milestone by obtaining in-principle approval from the Central Bank of the UAE. This approval pertains to Stored Value Facilities (SVF) and Retail Payment Services (RPS) category-II licenses.

## Expansion Plans

This development is crucial for Alaan as it enables the company to manage customer funds, facilitate cross-border payments, and issue corporate cards, all under the regulatory framework of the UAE Central Bank. The company aims to become the default spend management solution for businesses in the Middle East.

## Rapid Growth and Future Prospects

Since its launch in 2022, Alaan has experienced substantial growth, with triple-digit revenue increases year-on-year. The company has also introduced innovative products, including a cross-border payment solution and the region's first AI-native business account.

## Strong Market Presence

Alaan is recognized as a UAE Future 100 company and is trusted by over 3,000 finance teams across various sectors. Notable clients include G42, Careem, and McDonald's. The company recently secured $48 million in a Series A funding round led by Peak XV Partners, marking one of the largest Series A rounds in the region.

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