Revolut wins UAE Central Bank approvals for market entry
The digital bank secured licenses for stored-value facilities and retail payment services, clearing the way for a UAE launch after further technology, operations and localization work.
Fact Check
Revolut's official press release dated 17 June 2026 directly confirms it obtained Stored Value Facilities and Retail Payment Services (Category II) licences from the Central Bank of the UAE, completing its regulatory licensing and clearing the way for a launch after further technology, operations and localization work. This is independently corroborated by Bloomberg's same-day report, and consistent with the September 2025 in-principle approval announcement. The claim matches the primary source precisely.
Summary
Revolut has obtained approvals from the Central Bank of the UAE to enter the United Arab Emirates, marking a step in the digital bank’s regional growth plans. The approvals cover stored-value facilities and retail payment services, giving Revolut the regulatory footing to prepare a local launch. The company said it will build out technology, operations and local capabilities before formally launching in the market. Bloomberg reported on June 17 that Revolut is also considering broader expansion across MENA, including Turkey and Morocco.
Terms & Concepts
- stored-value facilities: Regulated products that let customers hold prepaid monetary value for payments or transfers.
- retail payment services: Consumer-facing payment services used by individuals to make transfers and other everyday transactions.
- MENA: A regional shorthand for the Middle East and North Africa.