Emirates Integrated Telecommunications Company (EITC) has received licences from the Central Bank of the UAE (CBUAE) to offer new digital financial services.
The licences enable EITC to offer a range of digital financial services that align with the evolving needs and preferences of customers in the digital era.
“The awarding of these licences underscores the UAE’s commitment to creating an environment that nurtures fintech innovation collaboration,” said Fahad Al Hassawi, CEO of EITC.
“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’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.
In 2023, du recorded a 36.8% increase in net profit, reaching Dh1.67 billion, compared to the Dh1.22 billion obtained the year prior. In light of the results, the company’s board of directors recommended the distribution of an annual dividend of 34 fils per share, a 41.7% increase compared to 2022.
Du ended the year with 604,000 subscribers, including 68,000 net additions.