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UAE telecom operator Du gets licence to offer digital financial services

The country's other telco Etisalat by e& is already providing multiple fintech solutions to its customers

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by

A Staff Reporter

Published: Sat 23 Mar 2024, 4:13 PM

Last updated: Sat 23 Mar 2024, 11:43 PM

Telecom operator Du has received licences from the Central Bank of the UAE to offer new digital financial services.

The licences allow Du — or Emirates Integrated Telecommunications Company (EITC) — to introduce innovative financial solutions that will contribute to the development of an advanced, modern, future-ready financial ecosystem across the UAE.

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The operator will be able to offer a range of digital financial services that align with the evolving needs and preferences of customers in the digital era.

This licence will position EITC at the forefront of the evolving fintech landscape in the region and support the UAE's commitment to fostering innovation, competition, and financial inclusion by promoting a cashless society.

“We believe that the EITC'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, CEO of EITC.

EITC aims to provide individuals and businesses with convenient, secure, and efficient solutions that simplify their financial transactions.

The UAE’s other telecom operator Etisalat by e& is already providing multiple fintech solutions to its customers.

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A Staff Reporter

Published: Sat 23 Mar 2024, 4:13 PM

Last updated: Sat 23 Mar 2024, 11:43 PM

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