EITC receives licenses from UAE Central Bank to offer fintech services

Press release

Published March 19th, 2024 - 08:12 GMT

EITC receives licenses from UAE Central Bank to offer fintech services

Fahad Al Hassawi - EITC CEO

Emirates Integrated Telecommunications Company (EITC), today announced that it has received licenses from the Central Bank of the UAE to offer new digital financial services. This milestone positions EITC 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 licenses granted by the Central Bank of the UAE enable EITC to introduce innovative financial solutions that will contribute to the development of an advanced, modern, future-ready financial ecosystem across the UAE. The licensure 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.
Fahad Al Hassawi, CEO of EITC, said: "The awarding of these licenses underscores the UAE's commitment to creating an environment that nurtures fintech innovation collaboration. We believe that EITC's entry into 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.”
EITC aims to empower individuals and businesses with convenient, secure, and efficient solutions that simplify their financial transactions and meet their diverse needs. EITC’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.

Background Information

Emirates Integrated Telecommunications Company (du)

Ever since we opened for business in 2006, we have worked hard to enhance and expand our bouquet of services in an industry that is at the heart of economic and social transformation. Bringing people and businesses together is what we do best, offering mobile and fixed telephony, broadband connectivity and IPTV services to people, homes and businesses all over the UAE. We also provide carrier services, a data hub, internet exchange facilities and satellite services for broadcasters.