Tamara, a leading fintech platform, has secured full regulatory approval from the Central Bank of the UAE (CBUAE), marking a significant step in its growth strategy within the region. The approval grants the company a restricted finance licence, enabling it to offer a wider array of credit and payment services in line with local regulations.
Yamen Fakhreddine, CEO of Tamara UAE, expressed his enthusiasm about the approval: “This milestone fundamentally strengthens our entire operation in the UAE and serves as the catalyst for our ambitious future here.” He added, “The path is now clear to achieve our mission to help people own their dreams by building the most customer-centric financial super-app in the world.”
Expanding Financial Services in the UAE
With the new licence, Tamara aims to deepen its partnerships with merchants and broaden consumer access to flexible payment solutions. The company plans to continue developing new products that improve the customer experience while maintaining financial stability and transparency. As part of its vision for expansion, Tamara will play a key role in the UAE’s growing fintech sector, contributing to the broader financial ecosystem.
Founded in Saudi Arabia, Tamara has emerged as one of the region’s fastest-growing fintech companies, offering innovative buy-now-pay-later services and digital finance solutions. With its expanding presence in the UAE, the company is now well-positioned for further growth, backed by the oversight of the Central Bank of the UAE.
Aligning with UAE Vision 2031
Tamara’s regulatory approval aligns with the UAE’s broader Vision 2031, which seeks to transform the country into a global financial hub with an emphasis on innovation and digital payments. Gulf regulators have been actively encouraging the growth of digital payment solutions while enforcing tighter regulatory frameworks, and Tamara’s approval marks a significant milestone in this evolving landscape.
The approval offers Tamara the stability and trust required to scale responsibly in one of the Middle East’s most dynamic financial markets. As the company continues to expand, its commitment to compliance and regulatory adherence will remain crucial to its long-term success in the region.
Tamara’s progress reflects the UAE’s ongoing efforts to create a more digital and customer-focused financial ecosystem. This development not only supports the country’s Vision 2031 but also positions Tamara to become a significant player in the future of regional fintech innovation.
