Business · World

Remitly receives stored value licence from UAE Central Bank

1 sourceFirst reported 5 days agoUpdated 5 days ago

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Remitly has received a Stored Value Facilities and Exchange Business Category IV licence from the Central Bank of the UAE.
This licence marks the culmination of several months of preparatory work by Remitly in the region.
The approval will enable Remitly to introduce new products for customers in the UAE.
This development highlights Remitly's ongoing expansion efforts within the Middle East market.
The grant of the licence aligns with the Central Bank of the UAE’s regulatory framework for financial services.

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AI summary: catch up in 20 seconds

Remitly has received a Stored Value Facilities and Exchange Business Category IV licence from the Central Bank of the UAE.
This licence marks the culmination of several months of preparatory work by Remitly in the region.
The approval will enable Remitly to introduce new products for customers in the UAE.
This development highlights Remitly's ongoing expansion efforts within the Middle East market.
The grant of the licence aligns with the Central Bank of the UAE’s regulatory framework for financial services.

Generated by AI from the 1 sources below · always verify with the originals