• Introduced under the Central Bank of the UAE's (CBUAE) Universal Accounts Framework, the launch gives more residents access to regulated accounts, advancing financial inclusion across the UAE.

Dubai, UAE - Botim Money, the UAE's leading fintech platform, has launched IBAN-enabled wallets, expanding access to regulated financial services across one of the country's most widely used digital platforms.

With more than 8.5 million users in the UAE, the launch enables eligible users to obtain a Virtual IBAN in their own name, helping more individuals access essential financial services and participate in the formal financial system. Introduced under the Central Bank of the UAE's (CBUAE) Universal Accounts Framework, the initiative supports the UAE's financial inclusion agenda by helping remove barriers to financial participation.

Through their IBAN, eligible users can receive salary payments, direct deposits, and domestic bank transfers directly into their wallet. Beyond the IBAN, users can access cash deposits, local transfers via peer-to-peer payments and AANI, and remittances to more than 170 countries. They also have access to a globally accepted Mastercard card, fractional gold and silver investments from AED 10, and regulated credit solutions to help build stronger financial profiles over time.

Botim data shows that 65% of its users are blue-collar workers, with a further 31% representing grey-collar segments. The launch supports greater financial inclusion for communities that have historically faced barriers to traditional banking products, making financial accessibility increasingly important.

Available with no minimum salary requirement, no minimum balance, no monthly fee, and multilingual onboarding in under three minutes, the IBAN-enabled wallet makes regulated financial services more accessible to a wider segment of the population.

For businesses, Botim's Wage Protection System (WPS)-accredited payroll infrastructure allows companies to process salaries directly into Botim Wallet, giving employees direct access to financial tools that support their financial needs. Introduced in partnership with the Ministry of Human Resources and Emiratisation (MOHRE) in 2024, the infrastructure helps businesses streamline payroll operations while ensuring full compliance with CBUAE and MOHRE requirements.

H.E. Dr. Tariq Bin Hendi, Board Member of Astra Tech and CEO of Botim, said, "Financial inclusion begins with access. For many people, having an account in their own name is the first step toward participating more fully in the financial system. By introducing Virtual IBANs through Botim, we are removing barriers to essential financial services and supporting the UAE's vision for a more inclusive and digitally connected economy."

The launch reinforces Botim's commitment to advancing financial inclusion and expanding access to regulated financial services across the UAE. By combining IBAN functionality, payroll access, and everyday financial services through a single platform, Botim is helping connect more individuals and businesses to the formal financial system.

About Botim 

Botim is the MENA region's leading fintech company headquartered in Abu Dhabi, delivering inclusive, user-centric financial solutions through an AI-native platform. Built on the foundation of being the UAE's first free VoIP provider, Botim now serves over 160 million users across 155+ countries with a multi-layered ecosystem spanning connectivity, payments, remittance, credit, savings, and investment.

As part of Astra Tech and the wider G42 ecosystem, Botim combines AI-native technology and regulatory credibility to serve consumers, businesses, and communities. With innovation and accessibility at its core, Botim is building the next generation of everyday finance and connectivity, making it easier, smarter, and more inclusive for everyone through botim connect, botim money, and botim finance.

About Botim Money 

Botim Money is the financial services layer of Botim, the MENA region’s fastest-growing AI-native fintech platform. Licensed by the Central Bank of the UAE, Botim Money advances financial inclusion by providing secure, seamless, and user-friendly financial solutions to millions of users across the region. 

Botim Money holds both the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses, further solidifying Botim's position in the financial technology sector. Its full suite of services includes digital wallets, local and international money transfers, lending, remittances, and in-store and online payments. The platform serves as an accessible gateway to simplified financial services built for everyday use.

For media inquiries contact: Lana Makhzoumi (lmakhzoumi@apcoworldwide.com) or Hanzla Wajid (hwajid@apcoworldwide.com)