An AI-focused industrial venture + CBUAE clears KamelPay

Another AI venture

Dubai-based Robo.ai and Abu Dhabi-based Eleven International Holding launched Alif Holding, an AI-focused industrial group targeting infrastructure, government, and industrial sectors, according to a press release. There’s also a localization draw, with the two aiming to establish engineering, assembly, and production in Abu Dhabi.

The details: Alif Holding will focus on developing and scaling AI solutions, like robotics, manufacturing, industrial AI, LLMs, and digital twins. It aims to roll out these solutions across critical industries, including energy, oil and gas, critical infrastructure, and utilities.

Fintech KamelPay secures CBUAE payment licences

Dubai-based payroll service provider KamelPay secured Stored Value Facilities (SVF) and Retail Payment Services (RPS) licences from the Central Bank of the UAE, making it among a small pool of fintechs authorized to offer regulated payment services in the country, per a press release.

Who are they? Founded in 2021, the fintech offers payroll and corporate payment solutions through its PayD and AbsoluteCard platforms. It currently has upwards of 2k corporates on its roster, processing payments for over 400k employees across the construction, retail, logistics, and financial services industries.