Reem Finance transitions to Reem Bank after UAE licence approval

By Parth Prabhudesai

Reem Finance has transitioned into a bank after receiving regulatory approval, rebranding as Reem Bank following the grant of a community banking licence from the Central Bank of the UAE.

The company said it is the first finance firm in the UAE to upgrade to this category of licence. Reem Bank operates under Judan Financial Holding, part of International Holding Company.

The newly established bank will focus on a digital-first model, supported by partnerships across the financial ecosystem. Its approach includes enabling fintech companies and digital wallets through embedded finance and Banking-as-a-Service (BaaS) capabilities. The bank has also introduced a fully digital credit process and a framework that incorporates community feedback into product development.

The transition is accompanied by leadership changes. Sara Al Binali has been appointed Chief Executive Officer. She previously held senior roles at First Abu Dhabi Bank, where she led corporate, commercial, and international banking operations. Seraj Tariq Faidi, former CEO of Reem Finance, is expected to become Deputy CEO of Reem Bank, subject to regulatory approvals.

“Our commitment is straightforward: to build a bank that earns its place in people’s lives by being simple, deeply trusted, and forward-looking,” Al Binali said.

The move follows a period of growth for the company, which has built a customer base of nearly 300,000 through partnerships and ecosystem-driven services.

The transition reflects a broader trend in the UAE financial sector, where finance companies are evolving into fully licensed banks with a strong focus on digital infrastructure, partnerships, and customer-centric services.