UAE - Mubasher: The Central Bank of the UAE (CBUAE) licensed Tabby to introduce a new suite of financial products, including spending accounts, cards, and money management tools, according to a press release.
The stored value facilities (SVF) license reflects Tabby's evolution into a full-service financial services app in the UAE, where it already serves millions of customers.
It allows the company to embed everyday financial services into a platform customers already trust and use regularly.
Hosam Arab, CEO and Co-Founder of Tabby, said: "Millions of people in the UAE already use Tabby for flexible payments. This license lets us serve them beyond credit and build an experience that delivers what money should actually feel like."
Currently, Tabby holds direct regulatory authorization in its two largest markets in Saudi Arabia and the UAE.
Last year, the company received its buy now, pay later (BNPL) license from the Saudi Central Bank (SAMA) and acquired digital wallet Tweeq.
Meanwhile, the UAE SVF license further strengthens Tabby’s regulatory foundation, enabling it to build and launch financial products across the GCC region on its own infrastructure.
