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Emirates Integrated Telecommunications Company (EITC) has announced the acquisition of licenses from the Central Bank of the UAE, marking a significant step forward in the realm of digital financial services. This development positions EITC as a key player in the dynamic fintech landscape of the region, in line with the UAE’s strategic goals of fostering innovation, competition, and financial inclusion towards a cashless society.
With the licenses granted by the Central Bank of the UAE, EITC is poised to introduce pioneering financial solutions that will drive the advancement of a sophisticated, forward-looking financial ecosystem across the UAE. These licenses empower du, a subsidiary of EITC, to deliver a diverse array of digital financial services tailored to meet the evolving needs and preferences of customers in the digital age.
Expressing his views on this achievement, Fahad Al Hassawi, CEO of EITC, remarked, “The issuance of these licenses underscores the UAE’s dedication to cultivating an environment conducive to fintech innovation and collaboration. EITC is committed to leveraging these licenses to introduce customer-centric solutions that will enrich the financial landscape of the UAE and contribute to its progress and prosperity.”
EITC’s overarching objective is to provide individuals and businesses with seamless, secure, and efficient financial solutions that streamline transactions and cater to a spectrum of needs. The foray into digital financial services by EITC aligns seamlessly with the UAE’s ongoing initiatives aimed at promoting financial technology and ensuring the country’s leadership in global fintech innovation.
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