Tell us about AEP, what is the mission and vision of the company?

Al Etihad Payments (AEP) was established in 2023, as a subsidiary of the Central Bank of the UAE, with a clear and compelling mandate: to advance digitalization of the payment experience in the United Arab Emirates in support of the modern digital economy. Our mission is not just about keeping pace with technological advancements, but rather about continuously advancing financial stability and financial inclusion in the nation. We are driven by the vision to be recognized as a global leader in the payments industry, one that delivers unparalleled solutions tailored to the diverse needs of our community. Our initiatives, such as the instant payment platform - Aani and the Domestic Card Scheme - Jaywan are designed to foster a more inclusive financial ecosystem. We envision a future where seamless, secure, and efficient payments are the norm, not the exception, underpinning the UAE's ambition to be at the forefront of digital economy and financial innovation.

AEP is a new company, how was your experience leading the company and defining the corporate culture?

Establishing a national payments company fromscratch is truly a once-in-a-lifetime opportunity. Creating AEP meant setting a corporate culture that is innovative, forward-thinking and deeply rooted in collaboration and inclusivity. It starts with choosing the right team of colleagues and ensuring that they are driven by the noble purpose AEP is driving in the UAE and fit into the envisioned culture. We have focused on creating an environment where every team member feels empowered to contribute to our mission. This involves fostering a culture of open communication,continuous learning, and relentless pursuit of excellence. Our team is encouraged to think outside the box, challenge the status quo, and leverage cutting-edge technologies to drive financial inclusion and stability. The result is a vibrant, dynamic organization that is agile and responsive to the rapidly evolving financial industry. This culture has been instrumental in our ability to launch pioneering services like Aani and to develop strategic national projects like the Jaywan. And we have a lot of fun while doing that!

Looking at the UAE market, how do you see the payment processing and FinTech landscape evolving in the coming years?

The UAE’s payment processing and FinTech ecosystem are both in the midst of a transformative evolution. With initiatives like the CBUAE’s Financial Infrastructure Transformation (FIT) program, we are not just adopting digital payment solutions; we are crafting a future where these solutions are integral to daily life, and seamlessly embedded into the fabric of our economy. Aani marks a significant leap forward, offering instantaneous, secure transactions that simplify the user experience to an unprecedented degree. We are seeing an era where sending money is as easy as sending a text message, where payments for services, utilities, and online shopping are executed in the blink of an eye but with the highest security standards. All of that for any financial institution in the country, not only the traditional bank account, but also wallets, salary card. We are driven by inclusivity.

Moreover, Jaywan is set to be a game-changer as well. By localizing card transactions and processing data within the UAE, Jaywan will enhance security, reduce costs, and support the broader goal of transitioning to a society with less dependency on cash. This scheme will particularly benefit SMEs by providing a more affordable and efficient payment processing option, enabling them to compete more effectively in the digital economy.

We couldn’t do any of these alone. We are in the background, enabling licensed financial institutions to deliver the most innovative payments solutions to their customers.  

What do you do in your spare time? What are your hobbies?

I have always been an adventurous guy, climbing mountains and enjoying many motorsport activities. Nowadays, my family is the priority, but having two growing boys, I am fortunate to be able to share my hobbies with them now. As we now live in the UAE with beautiful, pristine desert landscapes all around us, of course, I have picked up motorcycle rally as a hobby tailored to our new life in the Middle East. I am currently training for various local and international rallies. But we still find time to travel as a family, trying to learn about various cultures around us and exploring the World.

What book are you reading, or which is one of your favourite books?

I prefer traditional paper books; however, it is much more convenient to carry a Kindle around and have multiple books in a one compact device. I am currently reading two books. First is “From Para to Dakar” which is an incredible and strong story of a personal dedication and strength of a South African dad/husband who is overcoming a serious spinal injury from a motorcycle accident and training to compete in one of the hardest rally raids in the world – Dakar. The second one is an older book called “Jupiter’s Travels” which is about a British gentleman who is going around the world on his Triumph Motorcycle. I guess I am inspired by strong personal journeys and dedication that show that everything is possible if you put your mind to it.

The content of this article does not reflect the official opinion of Edgar, Dunn & Company. The information and views expressed in this publication belong solely to the author(s).