- First-of-its-kind transition positions Reem Bank at the forefront of digital, community-led banking in the UAE
- Sara Al Binali has been appointed CEO to lead the bank’s long-term growth agenda
In a landmark first for the UAE financial services landscape, Reem Finance has completed its transformation into Reem Bank (RB), becoming the only finance company in the UAE ever to successfully upgrade to a community banking licence, granted by the Central Bank of the UAE (CBUAE). Reem Bank is part of Judan Financial Holding, IHC’s dedicated financial services platform.
Reem Bank’s transformation reflects its ambition to enter the UAE’s vibrant financial market with a differentiated and specialized model built on collaboration, simplicity and co-creation. The transformed bank will enable fintechs and digital wallets through regulated embedded finance and Banking-as-a-Service (BaaS) infrastructure, while delivering a streamlined customer experience and seamless access to credit through a fully digital journey. It will also embed co-creation into its model, partnering with the community across the UAE to help shape the next generation of financial products.
Hamdan Al Dahmani, Chairman of Reem Community Bank, said: “The UAE has always led by building what others have yet to imagine. Reem Bank is an expression of that conviction. We have built a platform where fintechs find a genuine partner, where individuals and businesses can access the full capabilities of a bank in minutes, and where the next generation of this nation has a hand in shaping its own financial future. This is not a bank that has arrived to compete. It is a bank that has been designed to elevate the entire ecosystem around it, and to do so in a manner fully aligned with the UAE’s vision for a knowledge-based, inclusive and forward economy.”
The Board has appointed Sara Al Binali as Chief Executive Officer. A Board Member of Reem Finance since 2015, she brings a decade of institutional knowledge and continuity, alongside a clear mandate to scale the platform into its next stage of growth. She also brings extensive leadership experience across corporate and international banking from First Abu Dhabi Bank, where she held multiple senior leadership roles, including Group Head of Corporate, Commercial and International Banking. In this capacity, she led financial structuring, corporate partnerships, SME ecosystems and international expansion. At Reem Bank, she will lead the bank’s growth agenda and oversee its continued development.
Sara Al Binali as Chief Executive Officer, added: “Reem Bank enters this chapter with something rare: a genuine licence to reimagine. Our commitment is straightforward: To build a bank that earns its place in people’s lives by being simple, deeply trusted, and relentlessly forward-looking.”
Seraj Tariq Faidi, former CEO of Reem Finance for over a decade, will take on the responsibility of Deputy CEO of Reem Bank, subject to regulatory formalisation. Seraj led the transformation of Reem Finance into a fully licensed Community Bank, scaling its reach to nearly 300,000 customers through a culture of trust, a value-driven ecosystem and a powerful network of strategic partnerships laying the solid, sustainable foundation on which the Bank will flourish.
