A New Era of Banking in Dubai

Traditional Banking in Dubai Becomes Irrelevant

The traditional model of banking services in Dubai is gradually fading into the past. This was stated by Abdul Waheed Rathore, Chief Compliance Officer at Dubai Islamic Bank, speaking at the "Banking, Innovation, and Technology" conference.

According to the expert, it is necessary to connect to government sources such as the Emirates ID Authority, UAE Pass, and similar platforms to manage client relationships, serve them, and attract customers.

By the first quarter of 2025, banks are expected to implement all application programming interfaces (APIs) to encourage open banking.