Revolut Plans UAE Debut After Securing Central Bank Approval

Revolut Ltd. is planning to launch its services in the United Arab Emirates after the fintech behemoth secured initial approval for licenses from the country’s central bank.

The Central Bank of the UAE approved Revolut’s application for a so-called Stored Value Facilities and Retail Payment Services licenses, according to a statement. The fintech now plans to ramp up its hiring efforts in the country over the coming months.