Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked a partnership with Astra Tech, becoming the first lender to provide users across the country access to financial services on the Botim Ultra app.
ADIB and Botim will join forces to develop user-friendly pathways for Botim users to access ADIB services and products through their app, according to a press release.
The partnership marks a first-of-its-kind collaboration aimed at seamlessly integrating Sharia-compliant financial services into daily digital interactions, which enhances accessibility for all.
ADIB will integrate its range of Sharia-compliant banking products and services, into the Botim app, whose user base exceeded 8 million users in the UAE.
Amit Malhotra, Global Head of Retail Banking at ADIB, commented: "This partnership is a prime example of embedded finance. We will work closely with Botim to develop the journeys where ADIB’s products and services can be directly accessed within the Botim platform, providing millions of users in the UAE with a seamless and secure way to bank right where they are.”
“This solidifies ADIB’s position at the forefront of digital banking innovation and aligns with our commitment to both financial inclusion and sustainability, further strengthening our ESG goals,” Malhotra added.
Abdallah Abu Sheikh, Founder of Astra Tech and CEO of Botim, said: “By working with ADIB to incorporate ADIB’s banking solutions into our ultra platform, Botim, we’re not just simplifying banking – but creating a new paradigm in how financial services are delivered in the digital era.”
Last month, ADIB sealed a partnership agreement to provide facility to Tesla car buyers at affordable profit rates in line with its plans to foster electric vehicle (EV) financing.
