The Central Bank of the Emirates announced the launch of the instant payment platform under the name "Ani" last year, as part of the development and operation of a platform aimed at enhancing the digital transformation in the field of payments in the country. A group of entities participated in the experimental phase, where "Ani" is expected to play a vital role in facilitating financial transactions more efficiently and quickly.
Regarding the development of electronic transformations, a source from the Central Bank indicated that the Central Bank is committed to keeping up with the rapid transformation towards digital services in the banking sector. The source clarified that using banking applications to carry out financial transformations has become common and preferred by individuals and company owners due to the security and speed that these operations enjoy.
Data released by the Central Bank of the Emirates indicates that the value of instant payment transactions increased by 63% on an annual basis during the past year, reaching 165 billion dirhams. This increase resulted from raising the ceiling for instant payments between banks operating in the country from 25,000 dirhams to 50,000 dirhams.
In addition, the Central Bank of the Emirates clarified that the number of instant payment transactions amounted to 26 million transactions during the past year. Despite this increase, the use of other systems for payments in the country has not been affected, as the total number of transactions processed by the Central Bank reached 56 million transactions with a value exceeding 4.6 trillion dirhams.
