FABMISR launches IAM Tool in partnership with Hemaya IT as one of Egypt's first banks to advance digital governance and cybersecurity
The successful deployment of the IAM tool is the result of close collaboration between Hemaya, the bank's technology partner, and key internal leaders including Bassel Kelada, Chief Operating Officer of FABMISR, Mohamed Lasheen, Head of COO Business Management, and Ahmed El Sharka s y, Head of Identity, Access and Applications Parameters Management at FABMISR.
FABMISR is among the first banks in the Egyptian market to adopt this advanced tool at such an integrated level, underscoring its forward-looking approach to embracing cutting-edge digital governance and compliance solutions. The new system has enabled the automation of access rights management and improved access monitoring processes.
The implementation is being carried out in two phases. Phase one successfully integrated five core applications, while the upcoming second phase will cover five additional systems. This strategic rollout enhances the bank's ability to mitigate evolving cyber threats while securing its digital work environment and protecting customer data.
Commenting on the initiative, Mr. Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, said: 'The deployment of the IAM tool in collaboration with our strategic partner Hemaya IT marks a major milestone in FABMISR's journey toward secure digital transformation and full alignment with the Central Bank of Egypt's cybersecurity framework. The true value of this achievement lies in automating the access review process for more than 3,200 employees, which is an upgrade that significantly strengthens governance, streamlines compliance procedures, and reinforces our clients' trust in the digital environment through which we deliver our services. At FABMISR, we do not view technology as an end in itself, but as a means to realize our vision of banking excellence built on innovation, security, and operational distinction.'
For his part, Gen. Saeed Ibrahim, CEO of Hemaya Information Technology, stated: 'The implementation of this project with FABMISR marks a significant milestone in both cybersecurity and the digital transformation of Egypt's banking sector. This initiative enhances the security of financial transactions and builds greater confidence in digital banking, aligning with global standards and the Central Bank of Egypt's regulatory vision. With over 85% of Egypt's banks relying on our technical expertise and our partnerships with more than 60 global technology providers, Hemaya is proud to lead such complex, high-impact implementations. We remain committed to continuously strengthening security measures and empowering financial institutions to thrive in a rapidly evolving digital landscape.'
This achievement is part of a broader strategic roadmap to fully integrate the bank's identity and access management ecosystem over the next three years, solidifying FABMISR's position as a leading banking institution in cybersecurity and digital governance. The initiative also reaffirms the bank's ongoing commitment to delivering a digital banking experience that meets the highest global standards while catering to clients' evolving needs in a more secure and efficient environment.
About FABMISR:
FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR's local network operates through 73 branches, where it provides leading banking products and services that cater to all customer segments; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy.
FAB is one of the world's largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad.
FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P, and Fitch, respectively), making it the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
an hour ago
- Arabian Business
Dubai's Wasl offers first-time buyers rare chance with new South Garden homes
A new Dubai real estate development will offer first-time buyers priority access to homes in its latest project. In line with the Dubai First-Time Home Buyer (FTHB) program, a substantial share of the newly released residential units in South Garden Buildings D and E will be reserved for eligible first-time buyers. The move underscores Wasl's contribution to the initiative and supports the Dubai Real Estate Strategy 2033, which aims to boost homeownership rates across the emirate. First-time property buyers in Dubai The new release follows the rapid 48-hour sellout of South Garden's initial phase in 2024. Buildings D and E will add a curated selection of studios, one-, two-, and three-bedroom apartments at Wasl Gate, a freehold master development in Jebel Ali. Strategically located with direct Metro access and close to Festival Plaza Mall, the project combines connectivity and tranquillity. Amenities include a private gated zen garden, reflecting Wasl's commitment to delivering communities that offer long-term value for both residents and investors. As part of its partnership with the Dubai Land Department (DLD) and the Dubai Department of Economy and Tourism (DET), Wasl will provide registered first-time buyers with exclusive early access to units, along with tailored incentives such as discounted pricing. While some units will be allocated to the wider public, demand is expected to be strong given the project's track record of rapid sellouts. Mohamed Al Bahar, Director of Business Development at Wasl Group, said: 'The fact that so many are choosing to buy their first home through Wasl speaks volumes. It reflects not only the strength of our communities, but the trust we've earned to deliver quality, opportunity and value in a competitive market. 'With this launch, we're reaffirming our role as a developer of purpose, supporting Dubai's evolving housing needs while giving first-time buyers a real chance to step onto the property ladder.' The South Garden expansion highlights Wasl's ongoing role in shaping Dubai's property market and its commitment to fostering greater homeownership opportunities across the city.
Arabian Business
an hour ago
- Arabian Business
Salt Bae's Dubai restaurant closed for major renovation
Salt Bae's Dubai restaurant is set to close for two months as it undergoes a 'complete renovation'. Nusr-Et Steakhouse, the internationally renowned restaurant group founded by celebrated chef and entrepreneur Nusret Gökçe – better known as Salt Bae, has announced a comprehensive renovation of its Dubai location as part of its 'Next Chapter' strategic growth initiative. The restaurant has closed its doors and is scheduled to reopen on October 15. Salt Bae restaurant in Dubai closed This development follows the successful transformation of the Bodrum and D-Maris locations earlier this summer and reflects the group's continued commitment to investing in both new openings in Milan, Mexico City, Ibiza, Rome and the enhancement of its existing portfolio worldwide. A statement from the restaurant said: 'As the most successful Nusr-Et location anywhere in the world, Dubai holds a special place in our story. 'At Nusr-Et, we regard every occasion shared with you as exceptional. Guided by our pursuit of excellence, we continually refine and elevate every element of the dining journey. 'In alignment with this vision, Nusr-Et Dubai will be temporarily closed from August 15 to October 15 2025 to facilitate a complete renovation. 'The project aims to enrich our ambiance, design, and overall guest experience, ensuring that each visit delivers an even more inspiring and memorable moment. 'During this period, we will be delighted to welcome and serve you at our restaurant in Dubai International Financial Centre (DIFC), where you can continue to enjoy our signature flavours and hospitality until the reopening of Nusr-Et Dubai. 'We look forward to welcoming you back on October 15, 2025, when our doors will reopen with a renewed design, revitalised atmosphere, and the signature Nusr-Et flair for which we are known. 'We are deeply grateful for your understanding, loyalty, and continued patronage during this brief intermission'.
Arabian Business
an hour ago
- Arabian Business
Inside Ras Al Khaimah's real estate boom reshaping the UAE's property market
Ras Al Khaimah is witnessing an unprecedented boom in its real estate sector, rapidly emerging as one of the UAE's fastest-growing property markets under the leadership of Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. Driven by sound urban planning, sustainability, and a focus on quality of life, the emirate is reshaping its skyline with world-class projects while building a diversified, resilient economy. Over the past three years, Ras Al Khaimah has recorded significant increases in real estate sales and prices, supported by landmark developments in hospitality, commercial, and residential sectors. Ras Al Khaimah real estate boom Population growth, from 400,000 to a projected 650,000 by 2030, is expected to generate demand for around 45,000 new housing units. This momentum is reinforced by investor-friendly legislation and the entry of leading developers such as Emaar, Aldar, and Ellington Properties, alongside local champions including Marjan, Al Hamra, and RAK Properties. At the centre of the transformation is Al Marjan Island, led by Marjan CEO Abdulla Al Abdooli. The coastal destination already hosts luxury hotel brands such as Wynn, JW Marriott, Nobu, Missoni, and The Address. Marjan is also developing RAK Central, a mixed-use hub that will become one of the Northern Emirates' largest commercial districts, featuring Grade-A offices, residences, and leisure facilities built with green building standards under Ras Al Khaimah Vision 2030. Al Hamra Real Estate Development, led by CEO Benoy Kurien, continues to deliver integrated communities through its flagship Al Hamra Village, home to more than 10,000 residents across 4,000 units and a golf course. Its portfolio also includes Waldorf Astoria Residences, Falcon Island, Al Hamra Waterfront, and Manar Mall, the emirate's largest shopping destination. Meanwhile, RAK Properties is expanding the coastline with its landmark project Mina, anchored by resorts including Anantara Mina Ras Al Khaimah and InterContinental Ras Al Khaimah. Future developments include Nikki Beach, Staybridge Suites, and the planned Four Seasons Hotel. Abdulaziz Abdullah Al Zaabi, Chairman of RAK Properties, said: 'The vision of Ras Al Khaimah is now becoming a reality. We are creating a vibrant and sustainable environment that attracts global investment while preserving the unique culture and natural heritage of our Emirate.' Sameh Muhtadi, CEO of RAK Properties, confirmed that Ras Al Khaimah is receiving 'unprecedented global attention due to exceptional efforts over the past two years,' and expressed confidence in maintaining the momentum. The emirate's real estate expansion is underpinned by robust infrastructure, including eight hospitals such as the advanced RAK Hospital, and a modern private education system overseen by the Department of Knowledge. Consistently ranked among the world's safest places to live, Ras Al Khaimah has strong appeal for families and long-term residents. Tourism also continues to play a central role. In 2024, the emirate welcomed a record 1.28m visitors to its attractions, from Jais Flight—the world's longest zipline—to Bear Grylls Explorers Camp and 1484 by Puro, the UAE's highest restaurant. RAK Hospitality Holding, led by CEO Alison Grinnell, is further strengthening the sector through acquisitions and innovative experiences. Industry leaders agree that Ras Al Khaimah is now one of the region's fastest-growing markets, attracting global investors to its beachfront apartments, luxury villas, golf communities, and lifestyle destinations. Guided by its 2030 Vision, the emirate's inclusive and sustainable strategy continues to place people at the heart of progress. With more developers, investors, and residents choosing Ras Al Khaimah, the emirate is positioning itself as a benchmark for smart cities, vibrant communities, and opportunity-driven living.
