Beyond traditional banking, OMLA is the everyday go-to bank for businesses and individuals
Mint Gateway and Alternative Venture Capital, an affiliated company of Abu Dhabi Capital Group, have received in-principle approval from the Central Bank of the UAE to establish OMLA Community Bank, which will be headquartered in Umm Al Quwain with planned operations across the UAE.
“This marks a significant step toward establishing a next-generation specialized bank designed to combine artificial intelligence, intelligent automation, and modern digital infrastructure to deliver accessible, affordable, and inclusive financial services for individuals, families, entrepreneurs, workers, and MSMEs,” stated Abdulrazzaq Al Abdullah, Founder, OMLA and Chairman, GBS Holding and Mint Gateway.
Beyond traditional banking, OMLA is the everyday go-to bank for businesses and individuals, meeting essential needs including housing, education, healthcare, transportation, utilities, food, and commerce through instant and near-instant financial services powered by an AI-native banking platform, a press statement indicated.
Foundational operating infrastructure
The bank is being designed from inception as AI-native, with artificial intelligence embedded into its foundational operating architecture, governance framework, customer experience, risk management, compliance systems, and cybersecurity infrastructure.
OMLA is expected to provide instant and near real-time financial services spanning digital accounts, payments, transfers, remittances, savings, responsible lending, car financing, rental and lifestyle financial services, merchant acceptance solutions, SME services, and AI-powered financial insights.
All products, services, features, and technologies referenced remain subject to final regulatory satisfaction and formal approval by the Central Bank of the UAE prior to launch and operational deployment, a press communication concluded.
