AI-powered Omla Community Bank wins UAE preliminary approval

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AI-powered Omla Community Bank wins UAE preliminary approval

Editorial Team

May 13, 2026

Omla Community Bank, AI-Powered Digital UAE 2026 DubaiDiplomacy com — Illustrative Photo: DubaiDiplomacy.com/AI

Central Bank of UAE grants preliminary license for digital-only lender

DUBAI,— Two investment firms have received initial clearance from the UAE’s central bank to open a new digital bank focused on everyday customers, state-run news agency reported on Wednesday.

The Central Bank of the UAE granted in-principle approval to “Mint Gateway” and “Alternative Venture Capital,” a subsidiary of Abu Dhabi Capital Group.

The new lender, called “Omla Community Bank,” will be headquartered in Umm Al Quwain and operate across all seven emirates, stakeholders said on May 13.

Abdulrazzaq Al Abdulla spoke on behalf of the founding shareholders. He is founder of Omla and chairman of GBS Holding Group and Mint Gateway.

Al Abdulla told those present that the approval marks a strategic milestone toward launching an advanced digital banking model aimed at reshaping financial services in the country.

He expressed appreciation to the government of Umm Al Quwain and the central bank for their trust and support.

Al Abdulla said Omla Community Bank seeks to build a modern banking system powered by artificial intelligence and smart automation.

The goal is more accessible, efficient, and inclusive financial services for individuals, families, entrepreneurs, workers, and small and medium-sized businesses.

He added that the bank was designed from the start as an AI-driven institution.

Artificial intelligence runs across its operations, including customer experience, risk management, compliance, governance, cybersecurity, and core banking systems. That supports efficiency, transparency, and long-term growth.

The bank’s vision goes beyond traditional services, according to Al Abdulla. It aims to create one financial platform that handles daily needs like housing, education, healthcare, transport, public services, food, and shopping through instant and near-instant AI tools.

Al Abdulla also said the bank will adopt a “No Tie Policy” workplace culture. That means flexible rules and close work with customers to spark new ideas.

The two shareholders combine strategic capital and local expertise to build a future-ready community bank. Omla expects to support UAE priorities such as financial inclusion, small business growth, and responsible AI use.

The bank plans to offer digital accounts, payments, transfers, savings, vehicle financing, rental-linked services, merchant payment tools, and AI-powered financial tips.

Officials confirmed that all products and features remain subject to final review and approval by the Central Bank of the UAE before the bank can officially launch.

(With files from WAM)