Revolut is accelerating its UAE build-out and is hopeful it may launch in 2026 as soon as it secures a full licence, the corporate’s regional CEO informed Arabian Enterprise.
The UK-based fintech obtained in-principle approval from the Central Financial institution of the UAE earlier this 12 months. Revolut is now centered on changing that approval right into a full licence earlier than going stay within the Emirates.
“We now have not launched within the UAE but,” GCC CEO Ambareen Musa stated in an interview. “We’re working intently with the Central Financial institution to acquire our full licence. As soon as that’s accepted, we will set a public launch timeline.”
The remaining steps embrace the appointment of an impartial board member, completion of governance and tax constructions, and closing technical and compliance checks. Musa stated the method is detailed, ongoing and can’t be fast-tracked. She added that the corporate is eager for a 2026 launch, relying on regulatory pacing.
Revolut has begun constructing its UAE presence out of Conference Tower in Dubai Worldwide Monetary Centre, the place its funds entity is being established. The corporate is hiring throughout compliance, technique, partnerships and engineering to assist the native build-out.
“When you find yourself constructing from zero, you want groups collectively in a single place,” Musa stated. “The early levels require collaboration, localisation and fixed iteration.”
The UAE might be Revolut’s first working market within the Center East. Musa stated the nation is the start line for the Gulf however not but designated as the corporate’s regional headquarters. Revolut will decide a GCC headquarters location as soon as it’s lively throughout a number of markets and working at scale.
“We’re at day zero and the UAE is our entry market, not a regional headquarters at this stage,” she stated. “You earn the appropriate to name someplace a headquarters solely whenever you function throughout the area.”
Revolut, based in 2015, has turn into one of many world’s largest digital monetary platforms. It affords multicurrency accounts, worldwide transfers, digital playing cards, investing and cash administration instruments. The UAE product might be tailored to native laws and shopper behaviour. Some options, together with crypto buying and selling, might be rolled out solely in markets the place permitted.
Musa stated Revolut intends to compete within the UAE’s increasing digital banking panorama by ease of use, world performance and superior anti-fraud instruments. The area has seen an increase in phishing and OTP scams concentrating on high-income shoppers.
“Fraud is getting extra subtle and this area is a goal,” she stated. “As a result of we’re absolutely digital and never tied to legacy methods, we will use know-how that enables us to detect dangers early.”
Revolut’s app consists of disposable digital playing cards for on-line procuring, prompts that alert customers earlier than suspicious transfers and checks that establish unsafe beneficiaries. Musa stated the corporate will even introduce monetary schooling initiatives as soon as it launches regionally.
The UAE’s expat demographics and excessive remittance flows are anticipated to be main adoption drivers. Revolut is concentrating on clients who need low-cost worldwide transfers, multi-currency spending and a unified money-management platform.
“This can be a long-term entry into the area,” Musa stated. “We’re constructing belief and infrastructure first. As soon as we’re stay, we are going to scale.”
