UAE’s du, also known as Emirates Integrated Telecommunications Company (EITC), has secured a licence from the Central Bank of the UAE (CBUAE) to offer new digital financial services.
The milestone positions the telecom giant at the forefront of the evolving fintech landscape in the region and supports the UAE’s commitment to fostering innovation, competition, and financial inclusion by promoting a cashless society.
The licences enable du to introduce innovative financial solutions that will contribute to the development of an advanced, modern, future-ready financial ecosystem across the UAE.
The licences will enable du to offer a range of digital financial services that align with the evolving needs and preferences of customers in the digital era.
“The awarding of these licences underscores the UAE’s commitment to creating an environment that nurtures fintech innovation collaboration. We believe that du’s entry into the digital financial services space will further enhance the financial landscape of the UAE through customer-centric solutions that will contribute to its growth and development,” said Fahad Al Hassawi, the CEO of du.
du aims to empower individuals and businesses with convenient, secure, and efficient solutions that simplify their financial transactions and meet their diverse needs.
The telecom firm’s foray into digital financial services aligns with the UAE’s ongoing initiatives to promote financial technology and ensure the country remains at the forefront of global fintech innovation.
