The Banking Executive Magazine - May 2022 Issue

WIO UAE - NEW DIGITAL BANK WIO GETS CENTRAL BANK LICENCE, APPOINTS SENIOR LEADERSHIP The appointments come after the li- cence approval by the Central Bank of the UAE. Wio is jointly owned by Abu Dhabi Holding Company (ADQ), Alpha Dhabi, Etisalat, and First Abu Dhabi Bank (FAB) with an initial capital of Dh2.3 billion. As Chairman for Wio, Al Nuaimi will be keenly involved in shaping the platform. "I am very happy to join the very strong and capable team that is working behind the scenes to bring this innovative digital banking jour- ney to customers in the UAE,” Al Nu- aimi said. "The aim is to make banking conven- ient, transparent, and intuitive, and create a better future for our cus- tomers by transforming the way they bank in the region,” Jayesh Patel said. With a vision to simplify banking services for consumers in the coun- try, Wio aims to build its financial and non-financial capabilities by teaming up with other FinTech start- ups and leaders in the field to offer customers a fully digital banking ex- perience delivered seamlessly. the BANKING EXECUTIVE 44 ISSUE 161 MAY 2022