TLDR:
- EITC has received licenses from the UAE Central Bank to offer new digital financial services.
- This positions EITC in the forefront of the evolving fintech landscape in the region.
Emirates Integrated Telecommunications Company (EITC) has received licenses from the Central Bank of the UAE to offer new digital financial services. This milestone highlights the UAE’s commitment to fostering innovation, competition, and financial inclusion in order to promote a cashless society. The licenses granted enable EITC to introduce innovative financial solutions, contributing to the development of an advanced financial ecosystem in the UAE. With this licensure, du, a subsidiary of EITC, can offer a range of digital financial services to meet the evolving needs of customers in the digital era.
CEO Fahad Al Hassawi stated that the awarding of these licenses showcases the UAE’s commitment to fostering fintech innovation collaboration. EITC aims to empower individuals and businesses with secure, efficient, and convenient solutions that simplify financial transactions and meet diverse needs. This move aligns with the UAE’s initiatives to promote financial technology and stay at the forefront of global fintech innovation.
