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FinancialNews
13-02-22
Abu Dhabi holding firm ADQ to inaugurate new digital baking system
(MENAFN) Abu Dhabi holding firm ADQ got in-principle approval from the Central Bank of the country to inaugurate Wio, a fresh digital banking platform.
According to ADQ announcement on Friday, the overall invested capital in Wio that is based in Abu Dhabi is Dh2.3 billion (USD626 million) in addition to “in-kind contribution”
Based on the statement, the digital banking platform’s chief stockholders are ADQ as well as investments holding firm Alpha Dhabi, which has a controlling share of 65 per cent. Etisalat has 25 per cent, whereas First Abu Dhabi Bank, the country’s biggest lender by assets, has what is left which is 10 per cent.
MENAFN13022022000045013568ID1103686564
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