ADQ-backed digital bank gets UAE central bank approval for launch


FILE PHOTO: A general view of the Abu Dhabi skyline is seen, December 15, 2009. REUTERS/Ahmed Jadallah

DUBAI (Reuters) - The Central Bank of the United Arab Emirates has given in-principle approval to a new digital banking platform, backed by state holding company ADQ, to launch operations, ADQ said on Friday.

The move comes after a neobank backed by Dubai-based YAP, the first independent digital banking platform in the UAE, was launched last year.

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