Tamara, a leading fintech platform in Saudi Arabia and the GCC, has officially received a restricted finance license from the Central Bank of the UAE (CBUAE). This significant milestone cements the company’s position as a trusted financial partner and enables it to deepen its commitment to the UAE market.
Strengthening UAE Operations and Vision 2031
Achieving full regulatory status is a crucial step for Tamara, allowing the company to directly contribute to the goals of the UAE Vision 2031. The approval reinforces Tamara’s commitment to helping build a more advanced and reliable financial ecosystem in the Emirates and significantly strengthens its operational foundation in the country.
Paving the Way for a Financial Super-App
The new license serves as a catalyst for the company’s future growth plans, which include product diversification into new credit and payment offerings. The path is now clear for Tamara to accelerate its primary mission of creating a comprehensive, customer-centric financial super-app.
“This milestone fundamentally strengthens our entire operation in the UAE and serves as the catalyst for our ambitious future here,” said Yamen Fakhreddine, CEO of Tamara UAE. “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.”
About Tamara
Tamara is the leading fintech platform in Saudi Arabia and the wider GCC region. The company serves more than 20 million customers and partners with leading global and regional brands such as Apple, SHEIN, Jarir, noon, IKEA, and Amazon, as well as thousands of small and medium businesses. Tamara is backed by prominent investors including Sanabil Investments, a wholly-owned company by the Public Investment Fund (PIF), and SNB Capital.
Source: Zawya
