UAE Launches Du Digital Financial Services With Central Bank Licence

Asma Ahmed - | Technology

Du has secured licenses from the Central Bank of the UAE to offer innovative digital financial services, marking a significant development in the telecommunications landscape.

These licenses, granted to Emirates Integrated Telecommunications Company (EITC), empower Du to introduce a range of cutting-edge financial solutions aimed at advancing the UAE's financial ecosystem.

With these licenses, Du is poised to revolutionize the digital financial services sector by providing tailored solutions that cater to the evolving needs and preferences of customers in today's digital age. The introduction of these services underscores Du's commitment to innovation and its dedication to enhancing financial inclusion and fostering a cashless society in the UAE.

The issuance of these licenses positions EITC as a frontrunner in the rapidly evolving fintech landscape in the region. By leveraging its expertise and resources, EITC aims to contribute to the growth and development of the UAE's financial sector while driving innovation and competition in the market.

Fahad Al Hassawi, CEO of EITC, expressed confidence in the transformative potential of Du's entry into the digital financial services space. He emphasized the company's commitment to delivering customer-centric solutions that simplify financial transactions for individuals and businesses alike.

Du's foray into digital financial services aligns with the broader objectives of the UAE's digital transformation agenda. By leveraging technology and innovation, Du seeks to enhance the financial landscape of the UAE and empower individuals and businesses with convenient, secure, and efficient financial solutions.

Meanwhile, Etisalat by e&—the UAE's other prominent telecom operator—is already at the forefront of providing innovative fintech solutions to its customers. With its established track record in the fintech space, Etisalat by e& continues to drive digital innovation and financial inclusion in the UAE.

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Asma Ahmed
Asma Ahmed
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