Network International Renews Major Payment Processing Deal with Emirates Islamic

Network International has renewed its long-term partnership with Emirates Islamic to manage the bank’s payment processing and back-office operations. For fintech professionals, this extension underscores the critical role of legacy-scale infrastructure providers in supporting the digital transformation and Shariah-compliant product expansion of major Middle Eastern financial institutions in an increasingly competitive market.

What was announced

Emirates Islamic, a prominent Islamic financial institution in the UAE, has extended its agreement with Network International to maintain its core payments infrastructure. Under the terms of the renewal, Network will continue to provide comprehensive payment processing and back-office management services. This infrastructure is designed to be secure, resilient, and scalable, supporting the bank as it advances its digital banking proposition across its regional operations.

The partnership has recently expanded beyond basic processing to include real-time data services and value-added solutions that leverage Network’s acquiring capabilities. A key feature of the current collaboration is "Slice," an instalment solution developed by Network. Slice allows Emirates Islamic customers to divide payments into four to eight instalments without incurring additional fees, reflecting a growing demand for flexible payment options within the Shariah-compliant banking sector. The renewal aims to strengthen the underlying operations that allow the bank to meet evolving customer needs while maintaining the rigorous standards required for Islamic financial services.

"Our longstanding relationship with Emirates Islamic has grown alongside the bank’s ambitions and the changing needs of its customers. This renewal builds on a strong foundation in payment processing while creating further opportunities to bring new capabilities and value-added services to the partnership. As the payments landscape evolves, we remain focused on combining resilient infrastructure with innovation and expertise to support Emirates Islamic’s continued growth."

Murat Cagri Suzer, Group Chief Executive Officer of Network International

The companies involved

Network International is a major fintech operator across the Middle East and Africa, providing a full suite of technology-enabled payments solutions to merchants and financial institutions. The company is owned by Brookfield Asset Management, a global alternative asset manager, following a significant acquisition. Network has established itself as a dominant force in the regional payments ecosystem, often serving as the primary processing partner for large-scale retail banks and government entities.

Emirates Islamic, based in the UAE, is one of the region's leading Islamic financial institutions. It operates under Shariah principles, offering a range of retail, business, and corporate banking products. The bank has focused heavily on its digital proposition in recent years to compete with both traditional peers and emerging neobanks in the Gulf region. By outsourcing its back-office management and processing to a specialized provider like Network, Emirates Islamic maintains a focus on its Shariah-compliant product development while leveraging external technical expertise for transaction security and scalability.

What FF News has reported before

FF News has tracked Network International’s aggressive expansion across the MEA region. Recently, the company partnered with Bank NXT to modernize Egypt’s digital payment infrastructure, highlighting its role in upgrading legacy systems. In the UAE, the firm collaborated with Mastercard to launch Network MAX, a solution designed to improve cash flow for small and medium-sized enterprises. Furthermore, Network’s regional influence extends to Jordan, where it worked with Mastercard to revolutionize cross-border payments. These moves demonstrate a consistent strategy of combining core processing renewals with the introduction of high-margin value-added services like real-time data and AI-driven commerce solutions.

What this means

This renewal signals that despite the rise of agile, cloud-native payment processors, established giants like Network International remain indispensable to the region's largest banks. The inclusion of the "Slice" instalment product is particularly telling; it shows that traditional Islamic banks are under pressure to match the "Buy Now, Pay Later" (BNPL) features offered by fintech challengers, but must do so within Shariah constraints. The challenge for the sector now lies in how quickly these legacy-backed partnerships can iterate. As the UAE market becomes more saturated with digital-first players, the pressure is on infrastructure providers to prove they can offer more than just stability—they must also deliver the rapid innovation cycles usually associated with smaller startups.