Post by : Bianca
Haleem
The Central Bank of the UAE has granted in-principle approval to establish the “Omla Community Bank” in Umm Al Quwain, a venture by “MINT Gateway” and “Alternative Venture Capital” under Abu Dhabi Capital Group.
Positioned to operate throughout all seven emirates, this digital bank sets its sights on offering a range of innovative services.
Abdulrazzaq Al Abdulla, the founder of Omla and Chairman of GBS Holding Group, hailed this approval as pivotal in fostering a new banking paradigm aimed at enhancing financial services in the UAE. He expressed gratitude to both the UAE Central Bank and the Umm Al Quwain Government for their backing.
Al Abdulla shared that the bank's mission is to create an advanced banking ecosystem leveraging AI, smart automation, and cutting-edge digital tools. Services will cater to individuals, families, entrepreneurs, and SMEs, focusing on accessibility and efficiency.
AI will be integral to operations such as customer service, risk management, compliance, and cybersecurity, which are anticipated to drive efficiency and promote sustainable growth.
Beyond conventional banking, Omla aims to offer a holistic digital financial platform addressing everyday needs like housing, healthcare, and commerce through AI-enhanced solutions.
Omla will cultivate a dynamic workplace culture with its “No Tie Policy,” emphasizing flexibility and innovation to stay connected with customers.
With a shared vision, “Mint Gateway” and “Alternative Venture Capital” are committed to merging financial expertise and strategic investments to create a forward-looking banking framework that aligns with the UAE’s digital evolution.
The initiative aims to enhance financial inclusion, support SME growth, and promote responsible AI utilization in line with the UAE’s developmental objectives.
Upon launch, Omla Community Bank plans to deliver digital accounts, payment services, remittances, and various financial products tailored to meet diverse needs, pending final regulatory approvals.
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