Tabby gets SVF licence by CBUAE to hold customer funds

By Aarav Garg

Tabby, a Riyadh-based FinTech company, has been granted a Stored Value Facilities (SVF) licence by the Central Bank of the UAE, allowing it to hold customer funds and introduce new financial products, including spending accounts, cards and money management tools.

The licence marks a step in Tabby’s expansion into a full-service financial application in the UAE, where it already serves millions of users. It enables the company to integrate services such as spending, sending and managing money within a single platform.

Hosam Arab, CEO and Co-Founder of Tabby, said, “Millions of people in the UAE already use Tabby for flexible payments. This licence lets us serve them beyond credit and build an experience that delivers what money should actually feel like.”

The development also strengthens Tabby’s regulatory position across the Gulf region. In Saudi Arabia, the company previously received a Buy Now Pay Later licence from the Saudi Central Bank and acquired Tweeq, a SAMA-licensed digital wallet.

With regulatory approvals now in its two largest markets, Tabby said the UAE licence will support the rollout of additional financial products. It also allows the company to build and operate services on its own infrastructure as it expands its offering across the GCC.