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UAE s first independent digital banking platform launched

UAE s first independent digital banking platform launched SECTIONS Last Updated: Mar 07, 2021, 10:51 AM IST Share Synopsis Dubai-based YAP does not have a banking licence itself but has partnered with RAK Bank which provides international bank account numbers for YAP users and secures their funds under its own banking licence. iStock Representative Image The first independent digital banking platform in the United Arab Emirates launched on Sunday, a neobank hoping to become a leader in the Middle East, Africa and South Asia. Dubai-based YAP does not have a banking licence itself but has partnered with RAK Bank which provides international bank account numbers for YAP users and secures their funds under its own banking licence.

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