Du Telecom obtained license to offer digital financial services
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The Central Bank of the United Arab Emirates has authorized du, the telecommunications company, to provide new digital financial services.
This means that du, also known as Emirates Integrated Telecommunications Company (EITC), can introduce modern financial solutions that help advance the UAE’s financial system. With these licenses, du can offer various digital financial services that adapt to the changing needs of customers in today’s digital world.
This license will place EITC at the forefront of the changing fintech landscape in the region. It will also help the UAE in its efforts to foster innovation, competition and financial inclusion, promoting a society where cashless transactions are more common.
“We believe that the EITC’s entry into the digital financial services space will further improve the UAE’s financial landscape through customer-centric solutions that will contribute to its growth and development.”
saying Fahad Al Hassawi, CEO of EITC.
The EITC aims to offer people and companies easy, secure and effective solutions to simplify their financial transactions. Meanwhile, Etisalat, the UAE’s other telecom operator, already offers several fintech solutions to its customers.
News Source: Khaleej Times
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