EITC receives licenses from UAE Central Bank to offer fintech services

Emirates Integrated Telecommunications Company (EITC), today announced that it has received licenses from the Central Bank of the UAE to offer new digital financial services. This milestone positions EITC at the forefront of the evolving fintech landscape in the region and supports the UAE's commitment to fostering innovation, competition, and financial inclusion by promoting a cashless society.The licenses granted by the Central Bank of the UAE enable EITC to introduce innovative financial solutions that will contribute to the development of an advanced, modern, future-ready financial ecosystem across the UAE. The licensure will enable du to offer a range of digital financial services that align with the evolving needs and preferences of customers in the digital era.Fahad Al Hassawi, CEO of EITC, said: "The awarding of these licenses underscores the UAE's commitment to creating an environment that nurtures fintech innovation collaboration. We believe that EITC's entry into digital financial services space will further enhance the financial landscape of the UAE through customer-centric solutions that will contribute to its growth and development.”EITC aims to empower individuals and businesses with convenient, secure, and efficient solutions that simplify their financial transactions and meet their diverse needs. EITC’s foray into digital financial services aligns with the UAE's ongoing initiatives to promote financial technology and ensure the country remains at the forefront of global fintech innovation.

Du and Samsung announce three-year partnership to expand business and services

du, from Emirates Integrated Telecommunications Company (EITC), today signed a strategic a Memorandum of Understanding (MoU) with Samsung. This collaboration marks a significant milestone in the companies' relationship, allowing for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.Commenting on the partnership, Karim Benkirane, Chief Commercial Officer at du, said: "We are thrilled to solidify our partnership with Samsung, this collaboration will allow us to provide our customers with an even wider range of cutting-edge products and services. By combining the strengths of both companies, we are confident that we can meet and exceed the evolving needs of our customers."Under this new agreement, du and Samsung will work together to expand Samsung's digital service business and offerings, such as Samsung Care+, through retail, online, and mobile channels. This move aims to enhance the overall customer experience for both B2C and B2B customers.Fadi Abu Shamat, Head of the Mobile eXperience Division at Samsung Gulf Electronics, said: "This strategic collaboration with du is a testament to our commitment to delivering innovative mobile experience to our customers in the UAE. Through this partnership, we will be able to bring our cutting-edge products and solutions including Galaxy AI- a key enabler for new user experience paradigms, especially when it comes to the tools that empower creative expression, productivity, and barrier-free communications. This is the beginning of the future of mobile AI and we are proud to share this journey with our esteemed partner, du.The partnership between du and Samsung will focus on various business fundamentals and key development pillars. This includes expanding B2C practices to B2B, with an emphasis on the Enterprise Edition portfolio and rugged device offerings. Additionally, du will have exclusive access to Samsung's latest product launches, ensuring customers have access to the most advanced technology available. The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.Another strategic focus of this partnership is the creation of B2B-specific workshops and events to maximize reach. The collaboration aims to provide customers with value-added services (VAS) and monetization opportunities through direct investment and by leveraging the du ecosystem. Furthermore, the companies plan to develop B2B-specific rate plans for the enterprise edition and rugged device portfolio, as well as collaborate on CRM initiatives for local customers in the premium segment offerings.