MyMonty is preparing to apply for a digital banking license in the UAE as part of its long-term strategy to strengthen its fintech presence across the MENA region.
The company plans to apply for both a digital wallet license and a digital banking license, enabling it to expand its portfolio of secure, innovative, and accessible financial services for individuals and businesses.
The expansion comes as the UAE continues to establish itself as one of the world’s leading fintech hubs, supported by advanced digital infrastructure, progressive regulation, and an innovation driven business environment. These factors make the UAE a strategic gateway for fintech companies looking to scale across the Middle East and beyond.
The move also reflects a wider shift in the region’s financial sector, where digital banking is becoming a core part of economic modernization. Consumers are increasingly looking for faster, easier, and more transparent financial services, while businesses need flexible digital tools that can support payments, account management, and cross-border growth. For fintech companies, the UAE offers both market opportunity and regulatory clarity, making it a strong base for regional expansion.
By preparing to enter the UAE’s digital banking space, MyMonty is positioning itself in a market where trust, compliance, and user experience will define long-term success. The planned licenses would allow the company to build services that respond to changing customer behavior while supporting the UAE’s broader ambition to become a global center for financial technology.
Commenting on the company’s strategic direction, MyMonty Chairman, Mr. Mountasser Hachem, said:
“The UAE has become a global benchmark for what can be achieved when innovation, regulation, and investment move in the same direction. As we prepare for this next chapter, we see tremendous opportunities to contribute to the region’s digital financial ecosystem while continuing to deliver innovative financial services that empower both individuals and businesses.”
With the UAE as the first step in its regional expansion strategy, MyMonty aims to continue investing in markets that foster innovation, financial inclusion, and sustainable long-term growth.
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