Venture Capital Bank (VCBank), a fully-fledged Shariah investment bank, is making its move into the digital space with the launch of a new mobile app.
Known as VCB Online, the mobile platform allows clients to access real-time information on their investment portfolio including financial reports, investment statements and fair value, in either English or Arabic.
“The nature of investment requirements is time sensitive, which is why we have decided to focus on digital portals and provide our clients with a quick and effective platform to deliver important information in real-time, using the latest technologies. This is simply the first phase, as we aim to introduce additional features in the future to enhance the application and exceed our clients’ expectations,” VCBank CEO and head of investment and post acquisition, Robert C Wages, explained.
VCBank reported a net loss of almost US$1.8 million for the quarter ending the 31st December 2020, an improvement of over 95% year-on-year from the US$43.5 million loss incurred in the same period of 2019.