Crown Agents Bank has received in-principle approval for its Category 2 Licence of CAB global markets from ADGM’s FSRA, marking a significant milestone.

This development is part of Crown Agents Bank’s strategic plan to enhance services and experiences for the emerging markets it serves globally. The new licence will facilitate better access to government, central banking, and key stakeholders, thereby providing enhanced opportunities and partnerships across its global network.

The IPA signals a crucial advancement in the bank’s international roadmap and underscores its commitment to developing local relationships. Crown Agents Bank aims to remain compliant with industry regulations while addressing the needs and preferences of clients and users.

Details of Crown Agents Bank’s In-Principle Approval for Category 2 Licence

The company intends to strengthen its presence in Abu Dhabi and contribute to the UAE’s goal of becoming an internationally trusted financial hub. The institution also plans to offer secure, institutional-grade solutions and unlock growth opportunities for clients operating in emerging markets.

This approval complements Crown Agents Bank’s global regulatory footprint in the UK, the Netherlands, and the USA as part of its strategy to establish localized connections worldwide.

The recent announcement builds on the bank’s partnership with Aditya Birla Global Trading, which aimed to develop customized solutions supporting their growth objectives. Through this collaboration, Crown Agents Bank assisted ABGT in designing tailored business solutions for their commodity operations in Africa.

Crown Agents Bank further strengthened its trade finance capabilities by integrating Surecomp’s Trade Finance-as-a-Service (TFaaS) solution. This move enabled the bank to offer cross-border payments in over 100 currencies across more than 700 currency pairs, simplifying its entire trade finance process.