Supports groups that struggle to obtain financing, such as farmers, fishermen, and small businesses

“The Local Maria” ... the first digital bank in the UAE with job opportunities for citizens

Tariq Al-Masoud: “We are working to raise the financial capabilities of individuals and small and medium-sized companies, and support the sustainable growth of society in a flexible and easy way.”

“Al Mariah Local Bank” in Abu Dhabi announced that it has obtained the official approval of the banking supervisory authorities in the country, making it the first specialized bank in the UAE and the region to serve the local community of the UAE using a digital services platform that provides integrated banking products that operate within the best financial technology standards. .

The bank will support groups that suffer from difficult access to finance, such as farmers, fishermen, and small and medium-sized companies, as well as individuals, in line with its policy of focusing on low-risk financing.

The bank, which is owned by a group of founding individuals, provides financing at competitive interest rates that take into account not burdening customers with a heavy burden, as well as taking into account risks.

Opportunities for citizens

The founders' team proceeded to implement the founding steps, after obtaining the approval of the Central Bank, foremost of which is the formation of the functional structure that includes promising opportunities for citizens, while this is expected to be completed within a period not exceeding three months, in order for the bank to start practicing its business.

The local Al Mariah Bank will focus on community service, for both individuals and companies, to achieve the aspirations of the leadership of the UAE, and to employ concepts of forward-thinking and advanced development, based on innovation and technology.

These concepts will also be employed in a manner commensurate with the recent economic challenges, in line with the UAE community, and by using the latest financial services solutions to reach customers wherever they are through a unique digital banking experience.

Banking services

The local Al Mariah Bank will provide a range of banking services through the channels of the traditional banking system digitally through the bank’s application. Within minutes, the customer can securely open an account, and use smart banking services in a modern and safe way through a fast and flexible infrastructure that has been built with great care. And by using the advanced artificial intelligence mechanism, and electronic linking with the UAE smart government platform.

The series of financial products and services that the bank will provide will focus on covering a number of gaps that small and medium-sized companies need, to improve the efficiency of financial management and achieve their growth and prosperity, in addition to providing smart financial options and plans that contribute effectively to achieving the goal of saving and investment for citizens and residents of the country. In this way, it plays an important role in the economic and social unity of the UAE.

Commenting on the approval of the Central Bank of the Emirates, Chairman of the Board of Founders, Tariq Al Masoud, said that the establishment of "Al Mariah Local Bank" will effectively contribute to meeting the needs of customers by employing a team of specialized financial experts who will work to raise the financial capabilities of individuals and small and medium companies, and support growth. Sustainable society in a flexible and easy way through the smart application that will be launched soon.

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