Al Maryah Community Bank receives final approval from CBUAE; Unveils its products & services

By Amirtha P S, Desk Reporter
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Abu Dhabi-based specialized digital bank, Al Maryah Community Bank has received its final approval from the UAE Central Bank (CBUAE) and announced the availability of its banking products and services to the community. 

Al Maryah Community Bank targets to serve all the community banking needs in line with the vision of the UAE leaders in supporting individuals and small businesses within the UAE economy by employing forward-thinking concepts driven by innovation and technology.

H.E. Tariq Ahmed Al Masaood
H.E. Tariq Ahmed Al Masaood
Chairman – Al Maryah Community Bank

“We would like to sincerely thank the UAE Central Bank and express our gratitude for their faith and trust in our community efforts and granting the banking license to Al Maryah Community Bank, in line with the UAE leaders’ initiatives and vision for providing integrated digital services that reach customers wherever they are and at any time.”

Commenting on the approval from CBUAE, Mr. Mohammed Wassim, CEO of Al Maryah Community Bank said, “We are embarking on a very ambitious journey that will get the UAE community even closer through our AI-powered technology and fully integrated digital platform, which is at the heart of our dynamic and tech-savvy organizational culture. The unique feature we bring to the table is the concept of co-creation whereby we will assess customer anticipation through our AI, and we will work towards making it a reality.”

When an account is opened with Al Maryah Community Bank, the customer will have the opportunity to contribute to the development of the app, products, and services by providing suggestions and feedback on the UI platform. Then the bank will create such products and features in the app’s future releases.

Al Maryah Community Bank has also launched its digital banking app, designed for customers to start creating their current and savings accounts and become part of the digital banking revolution. Customers can now download the app (Mbank UAE) from the App Store and Google Play and enjoy a free for life gold account with no minimum balance.  

Mr. Humaid Al Attar, EVP Wholesale Banking said, “Our core strategy is to have a seamless app wherein individuals can open an account in less than 5 minutes. Companies can open accounts in easy and fully digital process without the need for owners to go anywhere. We will also reach out to the unattended and small businesses who find it difficult to access finance and bring along the communities into mainstream banking through the digital platform.”

Related: RAKBANK unites with Ajman Free Zone to support SMEs

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