Dubai, United Arab Emirates – July 31, 2025
Salima Gutieva, Vice President and Country Manager for Visa in the UAE, has called on regional banks to urgently reassess their approach to cross-border money movement, emphasizing the growing demand for modern, efficient, and transparent payment systems.
Speaking on the future of financial infrastructure in the Gulf region, Gutieva noted that billions of dollars move across borders every year, yet the systems facilitating these transactions remain hampered by outdated infrastructure and fragmented regulations.
“The Gulf is witnessing rapid digital transformation across industries, but the financial system’s core mechanisms—particularly cross-border payments—haven’t evolved at the same pace,” she said. “In an era where consumers and businesses expect immediacy and transparency, waiting days for international transfers or navigating unclear fee structures is no longer acceptable.”
Gutieva highlighted that the combination of complex compliance frameworks and legacy systems creates bottlenecks, particularly for small businesses and migrant workers who rely on affordable and quick remittance services. She stressed the need for banks to partner more actively with fintech innovators and adopt technologies that support real-time tracking, instant settlements, and reduced operational friction.
“The UAE has the potential to become a global model for seamless money movement, but that requires bold steps from its banking sector,” she added.
Visa, which has invested significantly in real-time payment technologies and digital-first financial solutions globally, is expected to continue driving dialogue among regulators, banks, and technology partners to help reimagine the future of regional financial connectivity.
Gutieva’s remarks come at a time when cross-border payment reform has become a key area of focus for governments, particularly as international trade, remittances, and digital commerce continue to expand in the Middle East.
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