Tabby Secures UAE SVF Licence, Aiming for Full-Fledged Fintech Transformation

Mohammed Fathy

Last updated 16-04-2026

3 min

Tabby secured a UAE SVF licence, allowing it to hold customer funds.

It can now launch spending accounts, cards and money tools.

The move shifts Tabby beyond BNPL towards a full-service financial app.

It strengthens regulatory footing across Saudi Arabia, UAE and Kuwait.

Rising GCC competition means execution must be seamless to keep users loyal.

Tabby has taken another big step in its regional expansion, after securing a Stored Value Facilities (SVF) licence from the Central Bank of the UAE. In simple terms, this means the fintech can now hold customer funds directly and roll out a broader range of products, including spending accounts, cards and money management tools.

For a company that many consumers in the UAE already associate with Buy Now, Pay Later, this is more than just a regulatory tick in the box. It signals a shift. Tabby is moving beyond credit and edging closer to becoming a full-service financial app, embedding everyday services such as spending, sending and tracking money into a platform millions already use.

I’ve noticed over the years, especially speaking with early-stage founders across the region, that regulatory approval is often the hardest nut to crack. It can be a bit of a faff, slow and detail-heavy. So when a homegrown fintech secures something like an SVF licence from the UAE’s central bank, it’s not just paperwork, it’s a statement. And for MENA startups watching closely on Arageek, these are the milestones that feel spot on.

Tabby now holds direct regulatory authorisation in its two largest markets. In Saudi Arabia, it previously obtained its Buy Now Pay Later licence from the Saudi Central Bank (SAMA) and went on to acquire Tweeq, a SAMA-licensed digital wallet. With the new UAE licence in hand, the company strengthens its regulatory base across the Gulf, giving it the ability to build and launch products on its own infrastructure rather than leaning on third parties.

Hosam Arab, CEO and co-founder of Tabby, said the company already serves millions of users in the UAE for flexible payments. He explained that the new licence allows Tabby to go further, beyond credit, and shape a money experience that better matches what customers expect from modern financial services.

Founded as a financial technology company focused on giving people more flexibility in everyday spending, Tabby now works with more than 65,000 global and regional brands. Names such as SHEIN, Amazon, Adidas, IKEA, Jarir, Samsung and noon are among the merchants using its platform. Headquartered in Riyadh, the company operates across Saudi Arabia, the UAE and Kuwait.

That said, competition in the digital wallet and consumer finance space is heating up across the GCC. Traditional banks are pushing harder into mobile-first experiences, while other fintechs are racing to lock in licences of their own. I reckon the real test for Tabby will not just be launching these new services, but making them seamless enough that users don’t think twice, because in fintech, friction is where customers quietly drift away.

Still, moving from a single-product BNPL player to a broader financial ecosystem is a bold, perhaps even brave move. If executed well, it could definitely reshape how Tabby is perceived in the region, not just as a credit tool, but as an everyday money companion. And in a market like the UAE, where consumers are tech-savvy and regulation is tight, that kind of transformation is no small feat… it’s a serious play for long-term relevance.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!