A new community bank has received approval from the Central Bank of the UAE (CBUAE) to set up its headquarters in Umm Al Quwain. Omla Community Bank will start its operations in UAQ, with plans to expand to the other emirates over time.
Mint Gateway and Alternative Venture Capital announced on 13 May that they had received in-principle approval from the CBUAE.
Speaking on behalf of the founding shareholders, Abdulrazzaq Al Abdulla, founder of Omla and Chairman of GBS Holding Group and Mint Gateway, said the approval is a strategic milestone towards launching an advanced digital banking model that aims to reshape financial services in the UAE.
He also thanked the Government of Umm Al Quwain and the CBUAE for their trust and support.
Modern banking, powered by AI
According to Al Abdulla, Omla Community Bank aims to build a modern banking system powered by artificial intelligence, intelligent automation and advanced digital infrastructure.
The goal is to make financial services more accessible for individuals, families, entrepreneurs, workers and micro, small and medium-sized businesses.
He added that the bank has been designed as an AI-driven institution from the start, with AI built into every part of its operations, including:
Customer experience
Risk management
Compliance
Governance
Cybersecurity
Core banking systems
The aim is to support efficiency, transparency, responsible use of AI and sustainable long-term growth.
Meeting everyday needs
Al Abdulla said the bank's vision goes beyond traditional banking. It aims to create an integrated financial platform that meets the everyday needs of individuals and businesses, including:
Housing
Education
Healthcare
Transport
Public services
Food
Commerce
He also said the bank will have a more flexible work culture, including a "No Tie Policy".
A wide range of services
Omla Community Bank is expected to offer a wide range of services, including digital accounts, payments, transfers, remittances, savings solutions, responsible financing, vehicle financing, lifestyle and rental-linked financial services, merchant payment solutions, SME services and AI-powered financial insights.
The bank is also expected to support the UAE's priorities around financial inclusion, SME growth, the digital economy, responsible AI, financial innovation and sustainable community development.
The companies behind the project confirmed that all products, services, technologies and features are still subject to final review and approval by the CBUAE before the bank officially launches.
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