Reem Finance becomes Reem Bank in UAE

Reem Finance has finished its conversion into Reem Bank (RB), after receiving a community banking licence from the Central Bank of the UAE (CBUAE), according to a press release posted on Zawya.

Reem Bank is licensed and regulated by the CBUAE and sits within Judan Financials’ portfolio, IHC’s financial services platform.

Reem Bank is a digital bank based in the UAE and set up to serve retail customers, households, small and medium-sized enterprises, fintech companies, digital wallets and communities with limited access to banking services.

It will operate as an open financial platform, using Banking-as-a-Service infrastructure, API-based fintech links and digital onboarding to connect customers, companies and wider networks.

Sara Al Binali has been appointed as the chief executive for the digital bank.

She has served as a board member at Reem Finance since 2015 and previously held senior positions in corporate and international banking at First Abu Dhabi Bank, including group head of corporate, commercial and international banking.

Binali said: “Reem Bank enters this chapter with something rare: a genuine licence to reimagine. Our commitment is straightforward: To build a bank that earns its place in people's lives by being simple, deeply trusted, and relentlessly forward-looking.”

She will oversee the bank’s next phase of development.

Seraj Tariq Faidi, who led Reem Finance as chief executive for more than ten years, is set to become deputy CEO of Reem Bank, subject to regulatory formalisation.

He oversaw the company’s shift into a licensed community bank and expanded its customer base to almost 300,000.

Judan Financial, established in 2026 and based in Abu Dhabi, is a global financial services investment company and a subsidiary of IHC.

The company oversees more than 20 financial services businesses in over 13 countries. Together, they serve more than 11 million clients and manage assets worth more than Dh870bn ($235bn).

"Reem Finance becomes Reem Bank in UAE" was originally created and published by Retail Banker International, a GlobalData owned brand.

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