British neobank Revolut, which counts more than 60 million customers worldwide, said Tuesday in a statement it has received in-principle approval from the Central Bank of the UAE (CBUAE) for «Stored Value Facilities» and «Retail Payment Services (Category II)» licenses.

The move clears the way for Revolut to launch in the Emirates with a suite of financial products for retail clients. The company described the UAE as a key growth market thanks to its dynamic economy, high digital adoption rates, and status as a global financial hub.

Regional Push

«Receiving these in-principle approvals from the Central Bank of the UAE is a pivotal step for Revolut in the region,» said Ambareen Musa, CEO GCC at Revolut. «Our goal is to empower individuals here with cutting-edge financial tools that offer transparency, flexibility, and control, addressing key pain points in the current financial landscape. .»

Musa, a fintech veteran who founded Souqalmal.com (now yabimoney.com), a leading comparison site for financial services in the Middle East, emphasized Revolut’s focus on financial literacy and consumer empowerment as core to its UAE strategy.

Hiring Drive

Revolut plans to ramp up hiring in the UAE over the coming months. The firm’s «remote-first» approach is designed to attract talent across the wider region while promoting flexibility and inclusion.

The UAE expansion adds to Revolut’s growing international footprint outside of Europe and the UK, with operations already in Australia, Brazil, Mexico, Japan, New Zealand, Singapore, the US, and India. The company aims to be among the top three financial apps in every market it enters.