Tamara Clinches UAE Licence to Spark Bold GCC Fintech Expansion

Saudi fintech Tamara secures a restricted finance licence from the Central Bank of the UAE, unlocking its GCC expansion and long-term fintech leadership.

Saudi fintech star Tamara has officially been granted a restricted finance licence by the Central Bank of the UAE (CBUAE), marking a significant milestone in its regional strategy. 

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This approval positions Tamara to launch and expand its payment, consumer-credit and BNPL (buy-now-pay-later) services under full local regulation, essentially signalling the company’s intent to “plant its flag” in the Emirates and operate as a long-term fintech player. 

Founded in Saudi Arabia and already partnering with major global brands like Apple, IKEA, SHEIN and Amazon across the Gulf, Tamara’s new licence grants it the legitimacy necessary to deepen its UAE footprint, accelerate its product diversification and better serve both merchants and customers in the region.

“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.” 

Why Tamara Matters to GCC and MENA Fintechs

• Regulatory credibility unlocked: For many fintechs eyeing GCC growth, the step from being “cross-border” to “locally-licensed” is huge. its licence signals to peers that the UAE market is not only reachable, but open to serious players with regional roots.
• Competitive edge affirmed: With backing from heavyweights including Goldman Sachs and Citi (via its $2.4 billion asset-backed financing deal), Tamara is entering UAE operations with deep firepower and strategic positioning. 
• Fintech ecosystem signal: As more regional fintechs scale out from Saudi Arabia to the UAE and beyond, this licence could mark a turning point–not just for the company, but for the entire GCC fintech space.

Market launchpad potential: With a regulated base in the UAE, the company is better placed to roll out new lending and payment products across the broader MENA region, and its move could pave the way for others to follow.