Revolut has submitted applications to the Central Bank of the United Arab Emirates to obtain a license as an electronic-money institution and to offer remittance services. The company aims to eventually secure a full banking license in the UAE, similar to the one it recently obtained in the UK.
Revolut’s Expansion into the UAE
Seeking Electronic-Money and Remittance Licenses
Revolut has applied to the Central Bank of the UAE for two key licenses: an electronic-money institution license and the ability to provide remittance services. These licenses would allow the company to operate in the UAE and offer its financial services to customers in the region.
Securing a Full Banking License
Revolut’s ultimate goal is to obtain a full banking license in the UAE, similar to the one it recently acquired in the UK. This would enable the company to provide a comprehensive range of banking services to its customers in the Emirates.
