The UK-born FinTech company has received initial approvals from the UAE’s Central Bank
Revolut is a digital bank popular for international money transfers and budgeting, with some 60 million customers across its established markets in the UK, Europe, US and India. And it looks like it’s set to launch in the UAE.
On September 9, the UK-born FinTech company announced that it had received in-principle approvals from the Central Bank of the UAE for its stored value facilities and retail payment services, paving the way for its regional launch.
While Revolut, first founded in 2015, began life as a money exchange platform, it’s since expanded to offer a wide variety of banking and financial services, from banking and savings accounts to international transfers, crypto and stock investments. With its launch in the UAE, it’s set to provide a ‘comprehensive product experience to retail customers,’ as per a statement.
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Described as a ‘pivotal step for Revolut in the region’ by Ambareen Musa, GCC CEO of Revolut, she explained that, “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.”
Although a launch date isn’t concrete, this marks a milestone step in Revolut’s entry to the UAE market.
The brand is now embarking on a hiring drive for a variety of roles across the coming months, with LinkedIn posts currently advertising jobs across recruitment, operations, marketing and business development.
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