logo
Al Masraf Adopts Lexzur's Smart Solutions as part of the UAE's AI Strategy

Al Masraf Adopts Lexzur's Smart Solutions as part of the UAE's AI Strategy

Al Bawabaa day ago
Arab Bank for Investment & Foreign Trade (Al Masraf) has signed a strategic partnership with Lexzur, a leading legal technology provider offering AI-powered solutions for end-to-end management of legal practices.This partnership reinforces Al Masraf's commitment to innovation and efficiency by automating legal processes through Lexzur's next-generation platform, an advanced evolution of the 'App4Legal' digital legal system. The AI-driven solution delivers an efficient, fully digital legal experience, providing precise, real-time guidance powered by artificial intelligence.Commenting on the collaboration, Fuad Mohamed, Chief Executive Officer of Al Masraf, said: "We live in an AI-driven era that is transforming the way businesses operate. Our collaboration with Lexzur is part of our strategy to enhance operational efficiency across all business sectors. We are committed to leveraging AI tools effectively, fostering a dynamic and sustainable work culture that supports our long-term vision. This initiative also reflects the UAE leadership's vision to pioneer AI innovation and cement the nation's position as a global hub for advanced technologies."Razi Heyasat, General Legal Counsel and Board Secretary at Al Masraf, added:"Al Masraf is among the first banking institutions in the UAE to integrate AI into its legal operations, demonstrating our dedication to digital transformation. By adopting Lexa, the AI-powered legal assistant from Lexzur, we aim to enhance workflow efficiency, compliance, and transparency within our legal practice."Feras El Hajjar, Chief Executive Officer of Lexzur, highlighted the importance of this partnership: "Al Masraf's adoption of Lexa marks a pivotal moment in how forward-thinking organizations use AI to boost efficiency, enable data-driven decision-making, and scale sustainably over the long term. Their vision goes beyond automation, AI is central to building a sustainable future. We are proud to support Al Masraf in unlocking these capabilities through Lexa and look forward to seeing their teams seamlessly integrate this cutting-edge technology to achieve tangible business outcomes."
This partnership is fully aligned with the UAE's Artificial Intelligence and Digital Economy Strategy, which aims to integrate AI across all sectors and strengthen the nation's position as a global leader in AI. Through public-private collaboration, Al Masraf continues to support the UAE's journey toward a more innovative and sustainable future.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ajman Bank partners with Expleo to establish a testing centre of excellence
Ajman Bank partners with Expleo to establish a testing centre of excellence

Al Bawaba

time3 hours ago

  • Al Bawaba

Ajman Bank partners with Expleo to establish a testing centre of excellence

Expleo, the global engineering, technology and consulting services provider, announces a strategic partnership with Ajman Bank, a leading Islamic financial institution in the UAE, to establish a testing centre of excellence (TCoE). The initiative is a strategic move to strengthen the bank's promising position in the region's evolving financial TCoE is positioned as a centralised hub supporting Ajman Bank in building robust, enterprise-wide financial applications and enhancing operational efficiency while maintaining agility, compliance with Shariah principles, and ensuring an unmatched customer tailored solution for Ajman BankExpleo will deliver a comprehensive, phased solution built on its proven digital assurance capabilities. The engagement will include:• Devising a structured roadmap covering setup, transition, stabilisation, and operation phases• Focused goals in test automation, process optimisation, environment management, and governance• Delivering digital, data, omni channel, mobile and automation capabilities to ensure quality and speed to marketMustafa Al Khalfawi, CEO, Ajman Bank, stated: 'Our goal is to build a best-in-class technology ecosystem that supports our vision of being a customer-centric, innovation-led bank. Our partnership with Exleo Solutions will not only elevate our software quality and delivery performance but also reinforce our ability to offer faster, safer, and smarter digital banking experiences.'Phani Tangirala, MD & CEO, Expleo Solutions Limited, commented, "We are proud to partner with Ajman Bank in building a future-ready digital ecosystem. Our solution is designed to empower Ajman Bank with the agility, governance, and innovation needed to thrive in a rapidly evolving digital Al Shamsi, COO, Ajman Bank, added: 'The establishment of the Testing Centre of Excellence is a strategic step in our operational evolution. It will play a pivotal role in embedding a culture of quality, accountability, and continuous improvement across our digital delivery ecosystem. By adopting best-in-class testing methodologies and frameworks through our partnership with Expleo, we are enhancing our ability to proactively manage risks, reduce time-to-market, and ensure that every product we launch meets the highest standards of performance, security, and customer satisfaction.'Mamoun Alhomssey, CTO, Ajman Bank, commented, "By embedding quality into every stage of development and delivery, we are solidifying our long-term commitment to technological excellence. Expleo's deep understanding of digital banking in the Middle East makes them an ideal partner in our transformation journey.'Looking ahead - AI assurance for improved intelligence and customer experience. Ajman Bank and Expleo are exploring future initiatives beyond the TCoE, including AI assurance frameworks, predictive analytics for proactive quality management, cloud-native environments to support scalable, on-demand testing and continuous training and upskilling programs to strengthen its expertise.

NBB Welcomes Yusuf Ahmed Abdulla as Head of Prestige Banking
NBB Welcomes Yusuf Ahmed Abdulla as Head of Prestige Banking

Al Bawaba

time3 hours ago

  • Al Bawaba

NBB Welcomes Yusuf Ahmed Abdulla as Head of Prestige Banking

The National Bank of Bahrain (NBB) has announced the appointment of Yusuf Ahmed Abdulla as Head of Prestige Banking within its Retail Banking brings over two decades of experience in wealth management and private banking, having held senior positions at several leading international financial institutions, including Julius Baer, Citibank, Mashreq Bank, and HSBC. Most recently, he served as Director of Private Banking at Julius Baer in Bahrain, where he managed investment portfolios and provided holistic advisory services to ultra-high-net-worth clients. Yusuf holds a Bachelor's Degree in Business Information Technology from Coventry University, United Kingdom, and has completed advanced professional training with institutions such as The Wharton School and the Chartered Insurance Institute in London. This strategic appointment will advance NBB's Prestige Banking segment and further enhance the delivery of specialised services to its affluent customer base. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.

ADIB and Abu Dhabi Housing Authority signs an agreement to Expand Affordable Housing Finance for UAE Nationals
ADIB and Abu Dhabi Housing Authority signs an agreement to Expand Affordable Housing Finance for UAE Nationals

Al Bawaba

time3 hours ago

  • Al Bawaba

ADIB and Abu Dhabi Housing Authority signs an agreement to Expand Affordable Housing Finance for UAE Nationals

Abu Dhabi Islamic Bank PJSC (ADIB), a leading Islamic financial institution in the UAE, has signed an agreement with the Abu Dhabi Housing Authority (ADHA) to provide top-up home financing solutions to UAE nationals. The partnership reflects a joint commitment to expanding affordable top up housing finance and supporting the development of sustainable communities in line with the Abu Dhabi government's broader social agreement allows eligible Emirati beneficiaries to apply for a top-up finance on their housing loan issued by the Abu Dhabi Housing Authority, a program supported by the Abu Dhabi Government. Through this agreement, the Abu Dhabi government aims to extend the support by offering top up financing solutions subsidized by 50% of the profit of the finance, enabling beneficiaries to secure homes that better meet their evolving family needs and lifestyle agreement was signed during a ceremony attended by H.E. Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, and Mohamed Abdelbary, Group Chief Executive Officer at this agreement, citizens who have received loans for purchasing or building a home from the Abu Dhabi Housing Authority, and whose monthly income exceeds AED 30,000, will be eligible to obtain additional financing of up to AED 500,000. The repayment period can extend up to 25 years, in accordance with the regulations of the Central Bank of the United Arab Emirates and in compliance with Islamic Sharia principles. The Government of Abu Dhabi will cover 50% of the profit and Murabaha charges associated with this on this partnership, H.E. Hamad Hareb Al Muhairi, Director General of the Abu Dhabi Housing Authority, said: 'This agreement with Abu Dhabi Islamic Bank reflects the Abu Dhabi Housing Authority's commitment to providing accessible financing solutions that support citizens' aspirations of owning suitable homes. It also contributes to enhancing family stability and quality of life for Emirati families. At the Authority, we are working to expand collaboration with private sector institutions to enable citizens to access flexible financing options that align with their needs and help realize their aspirations.'Mohamed Abdelbary, Group Chief Executive Officer at ADIB, added: 'This partnership underscores ADIB's commitment to empower UAE nationals on their journey to home ownership. By offering Sharia-compliant top-up housing finance in collaboration with the Abu Dhabi Housing Authority, we are not only meeting the growing demand for flexible financing options but also helping to build future-ready communities. With the support of the Government of Abu Dhabi, this agreement will offer citizens the opportunity to own homes that align with their aspirations and provide a living environment that better suits their needs.' The agreement responds to the increasing demand for tailored housing finance solutions among Emiratis and supports the Abu Dhabi Government's vision of fostering social stability through sustainable housing development. Through ADIB's ethical and Sharia-compliant financial products, beneficiaries will benefit from a simplified application process, competitive rates and a seamless customer experience.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store