Abu Dhabi Global Market licenses first digital trade bank

Anglo-Gulf Trade Bank to deliver digital trade banking and transaction banking services

Innovation-friendly environment of ADGM offers ideal foundation for revolutionising digital finance.
Innovation-friendly environment of ADGM offers ideal foundation for revolutionising digital finance.

Anglo-Gulf Trade Bank (AGTB) has received a full digital banking license and Category 1 status from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).

The license allows AGTB to deliver digital trade banking and transaction banking services.

Additionally, AGTB is working with ADGM’s Registration Authority (ADGM RA) to enable seamless corporate account opening for ADGM entities by allowing the permissioned exchange of Know Your Customer (KYC) information from ADGMRA to AGTB. This will accelerate and streamline the account opening process for ADGM entities.

Daniel Gould, deputy CEO of Anglo-Gulf Trade Bank, said: “The UAE is globally renowned as a digitally-centric hub that thrives off nurturing innovation and new-age thinking for tomorrow’s social and economic betterment.

“As such, the innovation-friendly environment of Abu Dhabi Global Market has offered AGTB a robust foundation for revolutionising the digital finance matrix – first in the UAE, followed by a broader international footprint. This will empower us to bring simple, client-first financial inclusivity and enables us to bolster the UAE capital in becoming a truly world-leading, award-winning financial centre, offering transactional banking services to corporates across the globe,” Gould added.

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