EITC obtains licenses from UAE Central Bank to offer FinTech services

Emirates Integrated Telecommunications Company (EITC) today announced that it has received licenses from the Central Bank of the UAE (CBUAE) to offer new digital financial services.

This milestone positions EITC at the forefront of the changing fintech landscape in the region and supports the UAE’s commitment to fostering innovation, competition and financial inclusion by promoting a cashless society.

The licenses granted by CBUAE allow EITC introduce innovative financial solutions that will contribute to the development of an advanced, modern and future-ready financial ecosystem across the UAE. The license will enable du to offer a range of digital financial services that align with the changing needs and preferences of customers in the digital age.

Fahad Al Hassawi, Executive Director of the EITCsaying,

“The granting of these licenses underlines the UAE’s commitment to creating an environment that fosters collaboration in fintech innovation. We believe that the EITC’s entry into the digital financial services space will further improve the UAE’s financial landscape through customer-focused solutions that will contribute to their growth and development.”

EITC aims to provide people and businesses with convenient, secure and efficient solutions that simplify their financial transactions and meet their various needs. EITC The foray into digital financial services aligns with the UAE’s ongoing initiatives to promote fintech and ensure the country remains at the forefront of global fintech innovation.

News source: Emirates News Agency