Revolut Gets UAE Central Bank Licenses for Middle East Push

Revolut has secured full approval for stored value facilities and retail payment services licenses from the Central Bank of the United Arab Emirates, the company said June 17. The approvals, which follow an in-principle green light in September 2025, clear the way for the digital bank to launch consumer services in the UAE.

The licenses cover two categories. The SVF license lets Revolut hold customer funds and issue e-money. The Category II retail payment license authorizes domestic and cross-border money transfers, card issuance, and merchant acquiring. Together they give Revolut the regulatory basis to operate a full digital banking suite in the country.

H.E. Mohammad Abdulrahman Alhawi, Undersecretary at the UAE Ministry of Investment, said the approvals show the emirates' appeal as a financial innovation hub. He noted the UAE's regulatory framework continues to attract international players and reinforces its vision for a knowledge-based economy.

Ambareen Musa, GCC CEO at Revolut, called the licenses a transformative step. "We see tremendous opportunity to contribute to the country's digital economy by offering consumers greater choice and control over their finances," she said.