Global fintech company Revolut announced it has obtained a Stored Value Facilities (SVF) license, along with a Category Two retail payment services license, from the Central Bank of the United Arab Emirates. His Excellency Mohammed Abdulrahman Al Hawi, Undersecretary of the Ministry of Investment, stated that the UAE's position as a global hub for financial services innovation is built upon its strong regulatory framework and the nation's long-term vision to foster global partnerships within the financial sector. He noted that Revolut's acquisition of the license from the Central Bank further strengthens this integrated system and reflects the growing international presence supporting the knowledge-based economy that the UAE continues to build and solidify. For her part, Ambreen Musa, CEO of Revolut in the GCC, said that the UAE is one of the most developed and forward-looking financial markets globally, supported by a clear vision for innovation and enhancing financial inclusion. She added that upon launch, the company will be able to provide access to its financial platform for customers in the UAE, allowing them to hold and manage multiple currencies, make payments using physical and virtual cards, and transfer money locally and internationally through a single app.
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