UAE’s first digital community bank receives nod to start operations
Waheed Abbas/Dubai
Photo: Wam
It will cater to both individuals as well as small businesses in the UAE.
The UAE Central Bank has granted licence to Al Maryah Community Bank to launch operations in the country.
It will be the first digital bank to have received the approval to start operations in the UAE.
On Monday, Mohamed Alabbar, Emaar Properties’ former chairman, also announced a plan to launch the digital bank Zand which will provide solutions to both individuals and businesses. The launch is subject to regulatory approval.