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UAE Central Bank grants license to new smart bank

Central Bank of UAE granted license to Al Maryah Community Bank, making it the first specialized digital bank to serve the UAE community through using state-of-the-art new age banking technologies.

The bank aims to focus on serving all the community banking needs in line with the vision of the UAE leaders in supporting individuals and small businesses within the UAE economy driven by innovation and technology.

Customers can seamlessly open their accounts and experience smart banking services built on AI powered technology integrated with UAE Government’s Smart Services.

The bank's suite of financial products and services will concentrate on bridging many gaps that individuals and SMEs face in terms of successful financial management and achieving growth,  and also looking forward to aiding the savings, investment goals of both Emiratis and expatriates alike.

Commenting on the development, Mr. Tarek Ahmed Al Masoud, chairman of the board of founders, commented on the approval of the Central Bank of the United Arab Emirates, saying, "We are pleased to obtain the approval and we would like to sincerely thank CB-UAE for their progressive vision that would go a long way to serve and support the digital banking needs of our community. I believe this initiative will effectively contribute to meeting the needs of customers by employing a group of specialized financial experts who will work to improve the financial capacities of individuals and SMEs and promote the community's sustainable development in a scalable and easy way through the smart application that will be launched soon.”