Global payments firm Nium and Emirates NBD are stepping up their cross-border payments push in the MENAT region, widening access to real-time transfers in the UAE and preparing for a launch in Saudi Arabia.
The partnership, first announced in 2024, has now been extended to Emirates Islamic Bank, broadening access to real-time payouts across the UAE.
Emirates NBD also confirmed it is preparing to roll out the service in Saudi Arabia through Emirates NBD Bank KSA, subject to regulatory approval from the Saudi Central Bank (SAMA).
The UAE remains one of the world’s largest remittance hubs, with outbound flows exceeding US$50 billion in 2023, according to the World Bank.
With expatriates making up nearly 90 percent of the country’s population, demand for faster, more reliable and affordable international transfers continues to rise.
Anupam Pahuja, Chief Revenue Officer at Nium, said,
“Over the past year, our partnership with Emirates NBD has continued to scale, enabling real-time money movement from the Middle East to the world.
With the addition of Emirates Islamic Bank and preparations in Saudi Arabia, we are delivering on our vision to make global payments instantaneous, accessible, and cost-efficient for all.”
Marwan Hadi, Group Head, Retail Banking and Wealth Management at Emirates NBD, said,
“Emirates NBD has always embraced innovation to enhance customer experience. Our deepening collaboration with Nium strengthens our ability to provide fast, secure, and affordable remittance services across multiple markets.
Extending the partnership to Emirates Islamic Bank and soon to Saudi Arabia reflects our commitment to leading the next chapter of cross-border payments in the region.”
Featured image: Edited by Fintech News Singapore, based on image by isaac1112 via Freepik
