PHOTO
Abu Dhabi’s Reem Finance, a part of Judan Financial Holding, has converted into a digital bank after securing community banking license from the UAE Central Bank.
Reem Bank (RB) will enable fintechs and digital wallets through regulated embedded finance and Banking-as-a-Service (BaaS) infrastructure, a statement said oon Monday.
Earlier this year, Abu Dhabi-based International Holding Company launched Judan Financial Holding, an AI-enabled international financial services holding company which was expected to oversee more than AED870 billion ($237 billion) in assets under management.
Sara Al Binal, formerly of First Abu Dhabi Bank, has been appointed as CEO of Reem Bank.
(Writing by Brinda Darasha; editing by Daniel Luiz)
