--- title: "Magnati Sole proprietorship L.L.C · Retail Payment Services (CBUAE) · United Arab Emirates | Elucidate" description: "Magnati Sole proprietorship L.L.C is authorised by Central Bank of the UAE (CBUAE) as a retail payment services in the United Arab Emirates. Licence 08.01.02.015.2024.01. Register status, licences, activities and ownership." url: https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615 --- 1. [Directory](https://elucidate.co/directory) 2. [United Arab Emirates](https://elucidate.co/directory/country/ae) 3. Magnati Sole proprietorship L.L.C United Arab Emirates · Payments & e-money # Magnati Sole proprietorship L.L.C Magnati Sole proprietorship L.L.C is a limited liability company based in Abu Dhabi. The Central Bank of the UAE (CBUAE) licenses it as a Category 2 provider of Retail Payment Services. First Abu Dhabi Bank (FAB) carved Magnati out as its payments business in April 2021. In February 2022 FAB agreed to sell a 60% stake to Brookfield Business Partners and its partners. On 1 October 2025 Magnati completed a merger with Network International under a Brookfield-led consortium. Magnati describes itself as focused on direct acquiring, issuer processing and acquiring processing. It serves government, merchant and institutional clients in the UAE. Register status Licensed in the United Arab Emirates Retail Payment Services · Central Bank of the UAE (CBUAE) Prudential licence [1 licence or registration ↓](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#licences) BIC **No BIC** LEI **No LEI mapped** [Licence no. **08.01.02.015.2024.01**](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#licences) ## Licences and registrations Held by Magnati Sole proprietorship L.L.C. 1 entry on 1 of the 22 tracked registers, retrieved 24 September 2026. | Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [CBUAE Register of Licensed Financial Institutions - Retail Payment Services](https://elucidate.co/directory/register/cbuae-rps) Central Bank of the UAE (CBUAE) | Retail Payment ServicesPayment Institution | 08.01.02.015.2024.01 | [United Arab Emirates](https://elucidate.co/directory/country/ae) | Active | — | — | - Payment services | [Search the register ↗](https://www.centralbank.ae/media/hw0lreyi/cb-register-august-2026.pdf) | - Each licence applies in the country of the regulator that granted it. - Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here. ## Swift network Swift’s ISO 9362 BIC directory Holds no BIC in Swift’s directory. No LEI is matched to this entry, and BICs are linked by LEI only. ## Overview Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#overview-sources) Customers Not published Employees Not published Ownership Group subsidiary Firm type Merchant acquiring and processing Trades as Magnati - **Standing:** Magnati and Network International completed a merger under a Brookfield-led consortium on 1 October 2025. The combined business operates as Network International LLC, and the two brands still co-exist. The CBUAE register of August 2026 still lists Magnati Sole proprietorship L.L.C as a licensed retail payment services provider. - **Ownership:** Since 1 October 2025 the firm has belonged to the combined Network International business, which a Brookfield-led consortium owns. FAB had kept a 40% stake in Magnati after the 2022 sale to Brookfield. - **Ultimate owner:** Brookfield-led consortium (Network International group) - **Head office:** East 9, Khalifa Street, FAB One Tower, P.O. Box 30420 Abu Dhabi, United Arab Emirates - **Company register:** Abu Dhabi company licence CN-1001897 - **Name in the local language:** ماغناتي شركة الشخص الواحد ذ.م.م ### Online - **Websites & references:** [magnati.com ↗](https://www.magnati.com/) did not load when checked [Wikipedia ↗](https://en.wikipedia.org/wiki/Network_International) group article - **Official social accounts:** None found Sources · 9 pages consulted 1. [centralbank.ae/media/hw0lreyi/cb-register-august-2026.pdf](https://www.centralbank.ae/media/hw0lreyi/cb-register-august-2026.pdf) 2. [magnati.com/en/terms-of-uses/](https://www.magnati.com/en/terms-of-uses/) 3. [network.ae/en/about-us/press-and-media/news/network-international-and-magnati-merge-to-create-the-le](https://www.network.ae/en/about-us/press-and-media/news/network-international-and-magnati-merge-to-create-the-leading-fintech-across-the-middle-east-africa) 4. [network.ae/en/about-us/press-and-media/news/network-international-and-magnati-secure-key-regulatory-](https://www.network.ae/en/about-us/press-and-media/news/network-international-and-magnati-secure-key-regulatory-approvals-for-merger) 5. [bankfab.com/en-ae/about-fab/group/in-the-media/20220228-fab-announces-the-sale-of-60-percent-in-magna](https://www.bankfab.com/en-ae/about-fab/group/in-the-media/20220228-fab-announces-the-sale-of-60-percent-in-magnati) 6. [magnati.com/](https://www.magnati.com/) 7. [gulfnews.com/business/banking/fab-brookfield-move-closer-to-combining-uae-payment-processing-firms-net](https://gulfnews.com/business/banking/fab-brookfield-move-closer-to-combining-uae-payment-processing-firms-network-magnati-1.1726639998349) 8. [nipl.com/uploads/NPCI\_International\_partners\_with\_Magnati\_to\_Expand\_UPI\_Acceptance\_in\_the\_UAE\_b97b](https://www.nipl.com/uploads/NPCI_International_partners_with_Magnati_to_Expand_UPI_Acceptance_in_the_UAE_b97b5a2be8.pdf) 9. [en.wikipedia.org/wiki/Network\_International](https://en.wikipedia.org/wiki/Network_International) ## Authorisation Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#overview-sources) - **Operates under:** Its own licences The CBUAE licenses the firm as a Category 2 provider of Retail Payment Services under identification number 08.01.02.015.2024.01. | Authority | Licence or registration | Number | Held | Status | Source | | --- | --- | --- | --- | --- | --- | | Central Bank of the UAE (CBUAE) United Arab Emirates | Retail Payment Services, Category 2 (National Company) | 08.01.02.015.2024.01 | In its own name | Active | [centralbank.ae ↗](https://www.centralbank.ae/media/hw0lreyi/cb-register-august-2026.pdf) | Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks. ## Partners and safeguarding Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#overview-sources) - **Payment schemes and card networks:** UPI (QR merchant acceptance via NPCI International) Access not stated [nipl.com ↗](https://www.nipl.com/uploads/NPCI_International_partners_with_Magnati_to_Expand_UPI_Acceptance_in_the_UAE_b97b5a2be8.pdf) Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices. ## Products and markets Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#overview-sources) - Merchant acquiring - Payment gateway - Prepaid cards - Card-issuing platform - Payouts and mass payments It offers card and electronic payment acceptance for UAE government entities and merchants. It also offers multipurpose prepaid and salary cards, and third-party acquiring and issuing processing for financial and non-financial institutions. It serves clients in the United Arab Emirates under its CBUAE licence. - **Sells to:** Public sector · Enterprises · Small businesses · Financial institutions - **Serves customers in:** United Arab Emirates ## Recent events Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/magnati-sole-proprietorship-l-l-c-1491d5181615#overview-sources) 1. Oct 2025 Merger / acquisition Magnati and Network International completed their merger under a Brookfield-led consortium, with the combined business operating as Network International LLC. [network.ae ↗](https://www.network.ae/en/about-us/press-and-media/news/network-international-and-magnati-merge-to-create-the-leading-fintech-across-the-middle-east-africa) 2. Jul 2025 Merger / acquisition Network International and Magnati announced that they had received key regulatory approvals for their merger. [network.ae ↗](https://www.network.ae/en/about-us/press-and-media/news/network-international-and-magnati-secure-key-regulatory-approvals-for-merger) 3. Jan 2025 Other NPCI International Payments Limited and Magnati announced a partnership for QR-based UPI acceptance on Magnati's point-of-sale terminals, starting at Dubai Duty Free. [nipl.com ↗](https://www.nipl.com/uploads/NPCI_International_partners_with_Magnati_to_Expand_UPI_Acceptance_in_the_UAE_b97b5a2be8.pdf) 4. Sep 2024 Merger / acquisition FAB and Brookfield announced plans to contribute their Magnati interests to the holding entity of the combined Network and Magnati businesses. [gulfnews.com ↗](https://gulfnews.com/business/banking/fab-brookfield-move-closer-to-combining-uae-payment-processing-firms-network-magnati-1.1726639998349) Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source. ## Identifiers - **Licence no. · CBUAE-RPS:** 08.01.02.015.2024.01 - **BIC:** Holds no BIC in Swift’s directory - **LEI:** No LEI mapped - **Elucidate firm ID:** 1491d5181615 ## Profile - **Type:** Payments & e-money - **Regulation:** Prudential licence - **Main licence class:** Payment Institution - **Activities:** - Payment services - **Licensed in:** [United Arab Emirates](https://elucidate.co/directory/country/ae) · Middle East & North Africa - **First registered:** Not published Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet. ## Ownership and group GLEIF relationship records No LEI is matched to this entry, so GLEIF relationship records cannot be linked. ## Addresses - **Address on the register:** Abu Dhabi - **Country:** United Arab Emirates ## ISO 20022 identification As an agent in a Swift cross-border payment message (CBPR+) This institution holds no BIC. A CBPR+ message identifies it by name and postal address, and may add its LEI or a clearing code. - **Identified by:** Name and postal address. No LEI or clearing code is mapped in the directory - **Postal address:** Structured: town and country ```xml Magnati Sole proprietorship L.L.C Abu Dhabi AE ``` CBPR+ identifies the instructing and instructed agents by BIC only. An institution without a BIC can be the debtor, creditor or an intermediary agent. The values are as published by the register. Check them against your own records before use. ## Related institutions ### Other payments & e-money institutions in the United Arab Emirates - [AEDC Stable Coin Network And Distribution - L.L.C No BIC Payments & e-money Crypto Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 09.01.01.004.2026.01 (CBUAE-PTC) · also on CBUAE-PTCAT, CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/aedc-stable-coin-network-and-distribution-l-l-c-ce122c02ae00) - [AIAE Services for Payments -L.L.C- S.P.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.038.2026.02 (CBUAE-RPS) · also on CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/aiae-services-for-payments-l-l-c-s-p-c-6220d012f277) - [Al Ansari Digital Pay L.L.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.027.2025.02 (CBUAE-RPS) · also on CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/al-ansari-digital-pay-l-l-c-b517205f3061) - [Beyon Money Financial Services L.L.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.022.2024.02 (CBUAE-RPS) · also on CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/beyon-money-financial-services-l-l-c-955ecb2d8958) - [Botim Money Technology L.L.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.002.2022.01 (CBUAE-RPS) · also on CBUAE-SVF · LEI 984500F8A1FF59S6XD61](https://elucidate.co/directory/botim-money-technology-l-l-c-0a58a23041ac) - [Comera Pay L.L.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.018.2024.01 (CBUAE-RPS) · also on CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/comera-pay-l-l-c-d33175d0accd) - [EITC Financial Services L.L.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.013.2024.02 (CBUAE-RPS) · also on CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/eitc-financial-services-l-l-c-d8373e8aff84) - [H A Q Kamel Pay Services L.L.C No BIC Payments & e-money Prudential licence United Arab Emirates · Licensed by Central Bank of the UAE (CBUAE) · 08.01.02.036.2026.02 (CBUAE-RPS) · also on CBUAE-SVF · No LEI mapped](https://elucidate.co/directory/h-a-q-kamel-pay-services-l-l-c-aae3ddea558b) [See all →](https://elucidate.co/directory/search?type=payments&cc=AE) [Other entries on CBUAE-RPS →](https://elucidate.co/directory/register/cbuae-rps) Sources & method Register entries come from the public registers of financial regulators, standardised into one taxonomy. LEIs are matched through GLEIF, and a BIC is linked only through a shared LEI. An institution missing from these registers is not necessarily unregulated. Register entries are not matched against the OFAC or EU sanctions lists. Where the legal entity also holds a BIC, the matches for that BIC are on its page. Always screen against the official lists. An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page. [Read the methodology →](https://elucidate.co/directory/methodology) Register for this page - **CBUAE Register of Licensed Financial Institutions - Retail Payment Services**—Central Bank of the UAE (CBUAE) · [source ↗](https://www.centralbank.ae/media/hw0lreyi/cb-register-august-2026.pdf) as at 24 September 2026 - **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source. ## Assess the financial crime risk behind a licence A licence records what an institution is authorised to do; it does not assess it. The [Elucidate FinCrime Index (EFI)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks and payment institutions. [Book a demo](https://elucidate.co/demo-request) Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.