31 October 2026
Ziina, a Dubai payments platform licensed by the Central Bank of the UAE (CBUAE), has won the Dubai-it Award for companies in the field of business. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, announced the result on Saturday, 31 October 2026. According to the announcement, Ziina has facilitated more than USD 1.5 billion in mobile payments, about AED 5.5 billion at the fixed rate of AED 3.6725 per US dollar. The platform serves 500,000 users and supports 290,000 business owners, small businesses and home-based projects. Dubai Media Office added that the number of active businesses on Ziina grew by 163% in a single year.
What was announced on 31 October
Sheikh Hamdan named Ziina the winner of the Dubai-it Award for companies in the field of business. The platform was founded by three young Arab founders, Faisal, Sarah and Talal Toukan, who named it after their mother. In Arabic, the word means “ornament” or “thing of beauty”.
Ziina describes itself as the first peer-to-peer payment app in the UAE: residents can send money using a phone number instead of an IBAN. The app works for both personal and business payments, from splitting a grocery bill to taking payments for a start-up. According to the company website, an account requires an Emirates ID and is available to UAE residents.
Dubai Media Office highlighted three points about the company:
- Ziina built its payments infrastructure entirely in Dubai.
- It launched more than 13 products and features in four years.
- Active businesses on the platform grew by 163% in one year.
The media office said Ziina reflects the Dubai-it way of working through “speed in development, excellence in experience, and exceptional growth”.
Ziina in figures
The figures below come from two sources: the award announcement of 31 October 2026 and Ziina’s own licensing release of 22 October 2026.
| Indicator | Figure | Source |
|---|---|---|
| Mobile payments facilitated | More than USD 1.5 billion (about AED 5.5 billion) | Award announcement |
| Users | 500,000 | Award announcement |
| Business owners, small and home-based projects | 290,000 | Award announcement |
| Growth in active businesses in one year | 163% | Dubai Media Office |
| Products and features launched in four years | More than 13 | Dubai Media Office |
| Share of UAE SMEs using Ziina | One in 10 | Ziina release, 22 October 2026 |
In its release, Ziina described the USD 1.5 billion as annualised payment volume and said it serves more than 500,000 customers a year. The company has not published revenue or profit, and the award announcement does not split the payment volume between consumers and businesses.
Three Central Bank permissions behind the platform
On 22 October 2026, nine days before the award, Ziina announced that it now holds CBUAE authorisations spanning three regulated activities. The company called itself the first homegrown UAE fintech to hold all three.
| Permission | Granted | What it covers |
|---|---|---|
| Stored Value Facility (SVF) licence | June 2024 | Digital wallet: receiving and holding money in the app |
| Exchange Business Category IV, under the SVF licence | August 2026 | International money transfers through digital channels, including in the Ziina app |
| Retail Payment Services Category III licence | Announced 22 October 2026 | Merchant acquiring, payment aggregation and domestic fund transfers, including payment links, QR payments, Tap to Pay and an online payment gateway |
The same release cited the CBUAE Annual Report 2025: retail transfers through the UAE Funds Transfer System reached AED 9.9 trillion across 114.9 million transactions in 2025, up 19.9% in value and 17.8% in volume year on year. Earlier in October, Ant International also announced CBUAE payment and stored value licences, which we covered in our article on Ant International licences in the UAE.
How the Dubai-it Award works
Sheikh Mohammed bin Rashid Al Maktoum launched the Dubai-it initiative on 17 June 2026, and on 24 June 2026 Sheikh Hamdan directed the launch of the Dubai-it Award. It is an annual prize for individuals, projects, companies and institutions that turn bold ideas into results delivered with excellence and in record time. Nominations for the first edition ran from 10 August to 10 September 2026 on dubai-it.ae.
Winners are announced one at a time. Earlier in October the award went to:
- the Roads and Transport Authority (RTA), institutions in the field of government, 11 October 2026;
- SWS Board Technology, projects in the field of economy, 17 October 2026;
- FIX Dessert Chocolatier, projects in the business category, 24 October 2026.
We described the award rules and the FIX case in our article on FIX Dessert Chocolatier and the Dubai-it Award.
What this means for small businesses in the UAE
The award does not change any rule, fee or procedure. Its practical value is a reference point: a large group of small and home-based businesses in the UAE already take payments through a CBUAE-licensed fintech platform, using payment links, QR codes, Tap to Pay on a phone or an online checkout, rather than only through a bank terminal.
For a founder, the choice of a payment provider is a compliance question as well as a pricing one. Before connecting any app or gateway, it makes sense to confirm that the provider holds a CBUAE licence and that its category covers the service you need. It is also worth checking what the provider requires from a business user, such as a trade licence, the owner’s Emirates ID and a bank account for settlement. Requirements and fees differ between providers and should be taken from the provider’s own terms.
A payment platform also does not replace the company’s core banking. Suppliers, salaries and government fees are usually paid from a corporate account, and banks review the company’s activity and payment flows during onboarding and periodic KYC checks. Our guide to opening a bank account in the UAE explains which documents banks ask for and how long onboarding usually takes.
Checklist: choosing a payment provider for a small business
- Check that the provider holds a CBUAE licence and that its category covers what you need, for example merchant acquiring or payment aggregation.
- Confirm which payment methods your customers can use: payment links, QR codes, Tap to Pay or an online gateway.
- Ask for the full fee schedule, settlement times and any limits per transaction or per month.
- Make sure the activities on your trade licence match what you sell, since providers check this during onboarding.
- Keep a corporate bank account in the company name for settlement, payroll and government payments.
- Store invoices and transaction reports for accounting and VAT.
How Atlant Capital can help
Atlant Capital does not sell payment services and does not act as an agent for payment providers. We build the business infrastructure a company needs before it connects any of them. We handle company setup in the mainland and free zones, including the choice of business activities for e-commerce, trading and service projects. We also prepare the document package for corporate bank account opening and support companies through bank KYC reviews.
Conclusion
On 31 October 2026, Sheikh Hamdan named Ziina the winner of the Dubai-it Award for companies in the field of business. The CBUAE-licensed platform has facilitated more than USD 1.5 billion in mobile payments, serves 500,000 users and 290,000 business owners, and grew its active businesses by 163% in a year. Nine days earlier, Ziina announced a Retail Payment Services Category III licence that adds merchant acquiring, payment aggregation and domestic transfers to its stored value and international transfer permissions.
Source: Khaleej Times, Ziina release via Mondo Visione.
FAQ
Which company won the Dubai-it Award for companies in the field of business?
Ziina, a Dubai payments platform, won the Dubai-it Award for companies in the field of business. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, announced the result on 31 October 2026. Ziina was founded by Faisal, Sarah and Talal Toukan.
Is Ziina licensed by the Central Bank of the UAE?
Yes. Ziina received a Stored Value Facility licence from the CBUAE in June 2024 and an Exchange Business Category IV authorisation in August 2026. On 22 October 2026 it announced a Retail Payment Services Category III licence covering merchant acquiring, payment aggregation and domestic fund transfers.
How many users and businesses does Ziina have?
According to the award announcement, Ziina serves 500,000 users and supports 290,000 business owners, small businesses and home-based projects. Active businesses on the platform grew by 163% in one year, and the platform has facilitated more than USD 1.5 billion in mobile payments.
What is the Dubai-it Award?
The Dubai-it Award is an annual prize launched on 24 June 2026 at the direction of Sheikh Hamdan. It recognises individuals, projects, companies and institutions that deliver exceptional results with excellence and in record time. Nominations for the first edition ran from 10 August to 10 September 2026.
