In a landmark first for the United Arab Emirates financial services landscape, Reem Finance has successfully upgraded its regulatory status to become a fully-fledged community bank.
Now operating as Reem Bank, the institution holds the unique distinction of being the only finance company in the UAE to ever secure a community banking licence from the Central Bank of the UAE (CBUAE). The newly formed bank operates directly under the umbrella of Judan Financial Holding, which serves as the dedicated financial services platform for the International Holding Company (IHC).
Reimagining digital and embedded finance
The transformation into Reem Bank reflects a strategic ambition to capture the UAE’s vibrant financial market through a differentiated model built entirely on collaboration, simplicity, and co-creation. Moving away from traditional banking structures, the institution is positioning itself as a core infrastructural partner for the wider ecosystem, aiming to actively enable fintechs and digital wallets through regulated embedded finance and Banking-as-a-Service (BaaS) capabilities.
Beyond its business-to-business offerings, Reem Bank plans to deliver a streamlined, fully digital customer experience that provides seamless access to credit. A unique pillar of its strategy involves embedding co-creation directly into its operational model by partnering with local communities across the UAE to help shape the next generation of financial products. Hamdan Al Dahmani, chairman of Reem Bank, noted that the institution was not designed merely to compete, but rather to elevate the entire financial ecosystem around it in a manner fully aligned with the UAE’s broader vision for an inclusive, knowledge-based economy.
New leadership for a new era
To spearhead this ambitious long-term growth agenda, the Board has officially appointed Sara Al Binali as chief executive officer. Al Binali brings a decade of institutional continuity to the role, having served as a Board Member of Reem Finance since 2015. She also brings extensive leadership experience from First Abu Dhabi Bank, where she previously led financial structuring, corporate partnerships, SME ecosystems, and international expansion as the group head of corporate, commercial and international banking.
Commenting on her new mandate, Al Binali stated that Reem Bank enters this chapter with a rare and genuine licence to reimagine the industry. She emphasized that the bank’s fundamental commitment is straightforward: to build an institution that earns its place in people’s lives by remaining simple, deeply trusted, and relentlessly forward-looking as the financial landscape continues to rapidly evolve.
Supporting the new executive structure, Seraj Tariq Faidi, who served as the CEO of Reem Finance for over a decade, will transition into the role of Deputy CEO of Reem Bank, subject to regulatory formalisation. During his tenure, Faidi was instrumental in scaling the firm’s reach to nearly 300,000 customers and laying the sustainable, value-driven foundation that ultimately made the historic community banking transformation possible.
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