ADIB launches Amwali world’s first Islamic digital bank

Abu Dhabi Islamic Bank ( ADIB ) one of the leading financial institution officially launched “Amwali” world’s first Islamic digital bank for youth.

Amwali, the digital bank will bring together an entire suite of banking products and innovative technology to enable young customers to enjoy a whole new way of banking that is paperless, signature-less and branchless.

It was found and co-created by Founders Club a cohort of Emirati youth and their parents, this banking solution is designed to empower young customers with a dedicated digital banking experience, personalised offers, and access to financial knowledge that fit their lifestyle, all under the parental control.

The Retail Banking Global Head at ADIB, Philip King, said:

“ADIB has been building up its youth banking segment over the last decade. We now have over 100,000 customers under the age of 24 banking with us and our goal is to expand youth access to personalised and safe financial products and services as well as to empower them to establish a disciplined culture with regards to managing their finances.

“We are proud that Amwali proposition is answering this through unique end to end banking proposition, unique financial content powered by advanced technology.”

The bank aims to roll out more features to the app including provisions allowing the child to earn extra allowances by completing tasks set by parents.

To make learning fun and easy, ADIB also plans to add bite-sized videos and gamify the financial learning process that will allow the child to earn points as they complete courses. There will be an additional provision for parents to reward their child for each course they complete.

ADIB’s efforts to be at the forefront of banking innovation have been widely recognised. previous year, the bank was recognised as “World’s Best Islamic Digital Bank” by Global Finance and Best bank in the UAE By Forbes.