Abu Dhabi Islamic Bank Partners with Botim to Offer Sharia-compliant Financial Services
Abu Dhabi Islamic Bank (ADIB) has announced a partnership with Astra Tech, the parent company of Botim messaging app.
This made it the first bank to offer its financial services through the app to users in the UAE.
Under the agreement, ADIB will collaborate with Botim to develop user-friendly pathways for Botim users.
So they can access ADIB’s services and products directly within the app.
This marks a first-of-its-kind collaboration aimed at seamlessly integrating Sharia-compliant financial services into everyday digital interactions, enhancing accessibility for all.
Benefits of the Partnership:
- Botim users will have access to a wider range of financial services.
- ADIB will be able to reach a larger customer base.
- The partnership will contribute to the development of the UAE’s digital economy.
Amit Malhotra, Global Head of Retail Banking at ADIB, commented:
“This partnership exemplifies embedded finance, and we will work closely with Botim to develop the journeys.
Where ADIB’s products and services can be directly accessed within the Botim platform.
Providing millions of users in the UAE with a seamless and secure way to bank right where they are.”
Significant Step Towards Revolutionizing Access to Financial Services
Abdullah Abu Sheikh, Founder of Astra Tech and CEO of Botim:
“Our partnership with ADIB underscores Astra Tech’s commitment to innovation and financial inclusion.
Uniting our efforts in this domain marks a significant step towards revolutionizing access to financial services.
Integrating the bank’s solutions into our leading Botim platform will not only simplify banking.
But also pioneer a new model for financial service delivery in the digital age.
Reaffirming Astra Tech’s dedication to innovation and regional financial inclusion.”
The relations between the UAE and Oman are characterised by a rich tapestry of diplomatic engagements, frequent high-level visits, and a continually expanding scope of cooperation. Since the establishment of their formal ties, this partnership has experienced significant growth. pic.twitter.com/FC4YvurxEj
— UAE Voice (@uae_voiceeng) April 22, 2024
The partnership between Abu Dhabi Islamic Bank and Botim is a significant step forward in the development of Sharia-compliant digital financial services in the UAE.
It is expected to benefit both banks and customers, and contribute to the growth of the country’s digital economy.
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