ABU DHABI, 5th May, 2026 (WAM) — Seraj Tariq Faidi, Deputy Chief Executive Officer of Reem Bank, announced that the bank is targeting entry into the industrial financing sector and aims to capture a promising share of this market, particularly for small enterprises in the UAE, over the next five years, as part of its expansion strategy following its transition from a finance company into a licensed local bank.
Faidi told the Emirates News Agency (WAM) on the sidelines of the fifth edition of the Make it in the Emirates 2026 platform that Reem Bank officially launched during the event, noting that the bank has a distinct trajectory, having originally been established as a finance company in the UAE in 2007, before obtaining Central Bank approval to convert its licence into a local bank in April.
He explained that this transformation opens broad prospects for expanding the bank’s business scope, as it had previously focused on real estate financing, while it now offers a wider range of products and services, with strong emphasis on industrial financing to support the national economy and enhance the growth of local companies.
He added that the bank intends to deliver a fully integrated banking experience based on complete digital transformation, whereby all processes are conducted end-to-end through a seamless digital journey, contributing to faster transaction completion. He noted that time has become one of the most prominent challenges facing individuals and businesses in the current business environment.
Faidi said that the bank will serve various customer segments, ranging from individuals and small and medium-sized enterprises to large corporates, within a phased expansion plan, noting that the current financing portfolio remains at an early stage, while plans for the next three to five years aim to achieve notable growth.
He affirmed that Reem Bank aspires to establish a leading position in the industrial financing sector, leveraging its advanced digital infrastructure, alongside partnerships being developed during the Make it in the Emirates platform, in support of its expansion objectives in the coming phase.
Source: Emirates News Agency