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Interview by Mohamed Badawy
Amit Malhotra, Global Head of Retail Banking at Abu Dhabi Islamic Bank (ADIB)—one of the world’s largest Islamic banks—revealed that the bank has launched more than 30 new digital services this year amid surging demand for digital banking. He expects this momentum to continue through the fourth quarter of 2025, with a focus on innovative solutions that meet customers’ evolving needs and support the bank’s long-term sustainable growth.
In an exclusive interview with FinTech Gate, Malhotra explained that the new digital services range from mobile account management and payments to advanced analytics and customer support, ensuring a seamless, secure, and personalized banking experience. He highlighted the recent launch of the instant transfer service “Remit!”, developed in collaboration with Visa, which enhances ADIB’s product suite and meets rising demand for fast, secure, and cost-effective money transfer solutions.
“Remit! was designed primarily for the UAE market, but Visa’s extensive infrastructure gives us the ability to expand into other markets with similar needs in the future,” Malhotra said. “Our near-term focus is to deepen our presence in core markets where we already have a strong footprint, such as the UAE and Egypt, by strengthening customer relationships, expanding cross-selling opportunities, upgrading digital platforms, and enhancing advisory services.”
Malhotra also expressed confidence in ADIB’s financial outlook, forecasting sustained strong performance throughout 2025, supported by robust demand for financing—particularly in the retail sector, where the bank currently leads the market in personal and home financing.
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Interview Highlights
* You recently launched the instant transfer service “Remit!” with Visa. How does this service expand your business?
– “Remit!” marks a major milestone for ADIB, expanding our product offerings to meet the growing demand for secure, fast, and low-cost money transfers. This initiative underscores our commitment to innovation, customer service, and financial inclusion.
The UAE, with its large and growing expatriate population, provides a strong base for such services, as remittances remain a vital financial lifeline for many residents. By leveraging Visa’s global network, the new service enables cross-border transfers with speed, reliability, and transparency, further cementing ADIB’s position as a leading provider of digital banking solutions in one of the world’s largest remittance markets.
With the country’s diverse expatriate base, the need for fast, affordable, and reliable transfers is critical. The launch of “Remit!” via Visa Direct responds directly to these market dynamics. Known for its ability to process instant payments, Visa Direct allows ADIB customers to send money internationally in hours rather than days, transforming the user experience by removing traditional barriers and delays associated with cross-border transfers.
*How have customers responded so far?
– “The initial response has been extremely positive. Customers value the seamless integration with Visa’s global network, which enables transfers within hours instead of days. They also appreciate the app’s user-friendly interface, responsive customer support, and the high security standards provided by Visa—especially first-time remitters, who gain added confidence from these features.”
*Is the service currently limited to the UAE?
– “For now, ‘Remit!’ is designed for the UAE market, but Visa’s vast infrastructure allows us to scale to other markets with similar demand in the future.”
*How much has ADIB invested in new products this year?
– “ADIB has continued to invest steadily in new products as part of our broader commitment to innovation and growth, reinforcing our leadership in Islamic banking. While we are not disclosing specific figures, our strategy centers on capturing emerging opportunities and diversifying our product portfolio. One key initiative is our innovative Fractional Sukuk product, which lowers the minimum investment threshold and makes Islamic finance more accessible and flexible for a broader range of customers.”
*Do you plan to introduce new products in Q4 2025?
– “Yes, we anticipate continued investment momentum in the fourth quarter, focusing on solutions that address evolving customer needs and strengthen our competitive position for long-term growth. Among the key initiatives is the Exceed Rewards Program, which offers expanded opportunities for customers to earn and redeem points across a wide range of partners and platforms—enhancing engagement, loyalty, and tangible value.
We’ve also invested in upgrading ATMs and cash deposit machines to enhance self-service banking with improved security, expanded functionality, and higher efficiency. Given the rising demand for digital banking, ADIB has already launched more than 30 new digital services this year, covering everything from mobile account management and payments to advanced analytics and customer support, ensuring a seamless, secure, and personalized banking experience. We expect this momentum to continue into the fourth quarter.”
*What other new products are in development?
– “Innovation remains a core pillar of ADIB’s strategy. This year alone, we’ve introduced several market-first products, including the region’s first Smart Sukuk Platform. While it’s too early to share details, we are currently developing new offerings designed to set fresh benchmarks in Islamic banking and digital services. As the year progresses, we will announce new launches that reinforce our commitment to value-added, Sharia-compliant solutions.”
*How many sukuk are currently listed on your new platform, and what is the investment threshold?
– “Our Smart Sukuk Platform currently hosts around 70 listed sukuk, offering a high-quality selection of Sharia-compliant fixed-income instruments. This platform opens opportunities that were previously limited to institutional investors by lowering the minimum investment requirement from USD 200,000 to just USD 1,000, significantly broadening investor access. Each sukuk varies by issuer, maturity, yield, and asset structure, enabling investors to build diversified portfolios aligned with their financial goals.”
*What is your financial outlook for 2025?
– “Building on the strong momentum of the first half of the year, we expect robust growth to continue throughout 2025. This outlook is supported by strong demand for financing, particularly in the retail segment, where ADIB currently leads the market in personal and home finance.
Our strategy also focuses on diversifying income sources, with special emphasis on growing non-financing revenues and fee-based services to enhance long-term stability and sustainability. With our solid market position and flexible business model, we are confident in our ability to deliver strong returns and sustainable value for all stakeholders.”
*Are there any expansion plans for 2025?
– “ADIB operates one of the UAE’s largest branch networks, with 70 branches and 520 ATMs. Internationally, the bank maintains a presence in six strategic markets, including Egypt, Saudi Arabia, the United Kingdom, Qatar, Sudan, and Iraq.
In the near term, our priority is to strengthen our footprint in key markets where we already enjoy a strong presence, particularly the UAE and Egypt. This includes deepening relationships with existing customers through cross-selling opportunities, upgrading digital platforms, and enhancing advisory services. By offering tailored solutions and comprehensive product bundles, we aim to deliver greater value and build long-term relationships, ensuring sustainable growth while leveraging our strong reputation and established expertise in these markets.”
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