ADIB launches world’s first Islamic Digital proposition targeting GenZ
ABU DHABI: Abu Dhabi Islamic Bank (ADIB) has officially unveiled ‘Amwali’, the world’s first Islamic digital proposition targeting youth between the age of 8 and 18.
Amwali is a groundbreaking proposition that brings together an entire suite of banking products and innovative technology to enable young customers to enjoy a whole new way of banking that is paperless, signature-less and branchless.
Co-created with the Founders Club, a cohort of Emirati youth and their parents, the all-in-one banking solution is designed to empower young customers with a dedicated digital banking experience, access to financial knowledge, and personalised offers that fit their lifestyle, all under parental control.
Philip King, global head of retail banking at ADIB, said: “[The] ADIB has been building up its youth banking segment over the last decade. We now have over 100,000 customers under the age of 24 banking with us and our goal is to expand youth access to [the] personalised and safe financial products and services, as well as to empower them to establish a disciplined culture with regard to managing their finances. We are proud that the Amwali proposition is answering this through a unique end to end banking proposition, unique financial content powered by advanced technology.”
Raweya Al Qader, head of youth banking at ADIB, said: “We are putting a lot of emphasis on [the] youth at ADIB, as they form such a strong part of the future of this country, as well as the future of ADIB. We are excited to present a programme to financially empower the generation that will shape the UAE’s next 50 years. Our research shows that many UAE millennials and Gen Z’s are looking for a dedicated digital channel that truly delivers their banking needs and financial goals.”
“They have grown accustomed to the fast-paced and digital interactions that offer convenience and mobility, especially as we progress towards a more technology-led and cashless society.”
“Likewise, the parents in the UAE are looking for ways to help their children manage their money, as they take charge of their financial future. And we listened to their feedback. With Amwali, we fill this gap by integrating financial literacy, budget control, and banking services in a simple, convenient, and digitalised banking experience. Through this innovative solution, we hope to empower the UAE’s next generation at an early age.”
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