Tamara Secures UAE Finance Licence, Eyes GCC Fintech Expansion

Editorial Team

Last updated 22-10-2025

3 min

Tamara clinches a restricted finance licence, solidifying its presence in the UAE.

This approval enables Tamara to expand its payment and consumer-credit services in the Emirates.

PIF's majority stake signalled confidence in Tamara's climb to a major fintech player.

Tamara's licence could spur broader fintech collaboration across the GCC region.

Goldman Sachs and Citi back Tamara, providing an edge in the competitive fintech landscape.

Saudi fintech star Tamara has just clinched a restricted finance licence from the Central Bank of the UAE (CBUAE) – a tidy milestone that’ll let it properly plant its flag in the Emirates. With this approval, the company can now roll out more payment and consumer-credit services under the local regulator’s watchful eye. It’s the kind of move that quietly says, “We’re here to stay.”

For a few years now, Tamara’s been working its way into daily spending habits across the Gulf, teaming up with big names like Apple, IKEA, SHEIN and Amazon. The fresh licence gives it the green light to operate within UAE regulations – a step that’s more than just paperwork; it’s about legitimacy and long-term expansion.

Yamen Fakhreddine, who leads Tamara’s UAE arm, described the approval as a turning point for the company’s ambitions in the Emirates, adding that the route is now clear to pursue its goal of building a “customer‑centric financial super app.” Well… I mean, that’s quite the mission, but with their recent $2.4 billion asset‑backed financing facility, they’ve certainly got the firepower.

If you’ve been following Arageek’s coverage of the MENA startup scene, you’ll know this isn’t Tamara’s first headline‑making moment. In late 2023, Saudi Arabia’s Public Investment Fund (PIF) took a majority stake, marking a huge vote of confidence from the Kingdom’s sovereign wealth fund. Back then, many observers reckoned it would push Tamara into the big league – and, spot on, that’s exactly how it’s playing out.

I still remember speaking to a few fintech founders in Riyadh last month – they were chuffed to bits about how the Saudi regulatory environment has matured. And yet, as one of them said with a shrug, scaling into the UAE can be “a bit of a faff.” So seeing Tamara cut through that red tape is encouraging for smaller players eyeing the same path.

That said, competition’s heating up fast. Other regional fintechs – like Tabby and Postpay – are already experimenting with new credit products and cross‑border payment tools. On the flip side, having heavyweight backers like Goldman Sachs and Citi (who helped broker that landmark financing deal) gives Tamara a serious edge.

I reckon this licence could turn out to be a watershed moment not just for Tamara, but for GCC fintech collaboration more broadly. If they play their cards right, the UAE could become their launchpad for new lending products reaching right across MENA.

And as one Arageek colleague joked the other day, this may be one of those headline approvals that sounds technical but ultimately changes how we all pay for our next phone or sofa. Definately one to watch.

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