Revolut Obtains Licenses in the UAE

Revolut has successfully secured licenses in the United Arab Emirates (UAE), marking a significant milestone in its expansion into the Middle East. The company announced that obtaining these licenses finalizes its regulatory process in the UAE and underscores its dedication to upholding the highest management and compliance standards. Revolut views the UAE as one of the world's most promising financial markets, particularly noting its commitment to innovation and financial inclusion. Ambareen Musa, Revolut's head for the Persian Gulf region, stated that receiving the licenses from the UAE Central Bank is a crucial moment for the company. Since receiving preliminary approval last year, Revolut has been strengthening its presence by expanding its local team and investing in the necessary infrastructure for sustained growth in the UAE. Revolut, which began in the UK in 2015 offering money transfer and currency exchange services, now serves over 75 million customers globally, processing more than a billion financial transactions monthly.